The duo will start working together from 1st February 2017, with Luxasia using its broad knowledge and experience in the fragrance and marketing sectors to drive Barcelona-based Puig’s presence in the continent.
Luxasia has added to its extensive portfolio through adopting an omnichannel distribution approach and ‘consumer-centric go-to-market’ strategy, prioritising both the entire shopping experience and evolving needs of customers’: two hallmarks of Asia’s growing marketing trend.
Telling the story
Luxasia has leveraged its ability to enter and develop a leading presence in the Asian market by supporting 120 international brands in various beauty sectors including cosmetics, skin care, fragrance and professional beauty salons to achieve brand identity, generate sales and make an impact.
Through gaining a strong reputation in the beauty arena throughout the continent including Singapore and Malaysia, Luxasia has added Shiseido, Aveda, Dior, La Prairie, and Prada to the list of brands it has helped position as leaders of industry.
With growth and revenues of €1645 mn in 2015, Spanish-based Puig focuses on fragrances and fashion brand-building capabilities through strong marketing messages. To date, it has propelled the storytelling abilities of prominent brands including Jean Paul Gaultier, Paco Rabanne and Nina Ricci.
Asia: A diverse space for fragrance
Last year, Euromonitor International indicated how Asia is a diverse and varied landscape. As China and Malaysia report healthy compound annual growth rates (CAGR) of 7% and 2% respectively over the forecast period, Singapore, on the other hand, is expected to record a loss of -2%, due to heavy discounts in beauty salons and given by internet sellers.
However, the market research company reported that as the fragrance sector is set to see an influx of bespoke and luxury retailers, this reduction in price is expected to stabilise.
History of Success
“The joint venture between Puig and Luxasia is an important step towards accelerating the development of our brands in Asia. We are delighted to bring our relationship to the next level and look forward to a successful partnership,” highlighted Mark Puig, Chairman and CEO of Puig.
“We are confident we can take advantage of our deep knowledge of the market, influence, customer analytics and talent so that the presence of the Puig brands grow in a sustainable way in this part of the world,” said Patrick Chong, Chairman of Luxasia.