Skin care investment: FJB inks deal to distribute luxury brand MZ Skin as it continues to expand beauty portfolio
Founded in 1959, FJB is a Singapore-listed company that represents over 20 brands such as GUESS, Marc Jacobs and Rebecca Minkoff.
On May 31, FJB announced that it secured exclusive rights to distribute brand MZ Skin products in Singapore, Malaysia, and Indonesia.
The distribution agreement, which will be for an initial two years, will see MZ sold on FJB’s online platforms and in selected retail outlets. One of the first physical outlets is set to debut in Seibu at The Exchange TRX, Kuala Lumpur.
In 2020, the company secured distribution of Dr. Barbara Sturm Molecular Cosmetics to tap into the growing demand for skin care amid COVID-19.
Like Dr Barbara Sturm MZ Skin, MZ Skin is a luxury skin care brand backed by London-based Dr Maryam Zamani, an oculoplastic surgeon and aesthetic doctor. The brand, launched in 2016, is best known for clinically endorsed skin care products such as its LED home-use masks.
Similarly, it has also garnered a global following which includes well-known personalities such as Serena Williams, Sonam Kapoor, Gwyneth Paltrow, and Princess Charlene of Monaco.
Speaking to CosmeticsDesign-Asia, FJB chief operating officer Douglas Benjamin said the firm has been “very happy” with the performance of Dr. Barbara Sturm in the past two years, which has been steadily garnered new clients and followers.
Particularly as the SEA markets begin their post-pandemic recovery, the firm said it would continue to invest in the health and wellness category. This led to the deal to distribute MZ Skin in the three SEA countries.
Benjamin said the firm aims to tap into the advancement of the Association of Southeast Asian Nations (ASEAN) region to spur the growth of MZ Skin.
“The ASEAN consumer markets have been one of the fastest-growing in recent years, and its economies have a combined GDP of more than US$3tn dollars and a total population of over 650 million.
“The region’s rising affluence has fuelled growth in the consumer markets of economies such as Singapore, Indonesia, Malaysia, Vietnam and the Philippines, and is one of the factors driving premium brands like MZ Skin to expand here.”
He highlighted that the region had a good mix of consumers that MZ Skin was well-positioned to tap into.
“The region has a combination of younger demographics who are very health-and-wellness-conscious and older ‘super consumers’ who want to look and feel better and have the spending power to match their desires. MZ Skin's science-based approach to product formulation, combining beauty and function, is well-positioned to tap these opportunities.”
With the encouraging launch of Dr. Barbara Sturm and high hopes for MZ Skin, Benjamin said the company will further develop this portfolio with more brands.
“We are always on the lookout for brands that will appeal to our customer base and connect with our overall business strategy. We started our health and wellness division in August 2020 and are glad to see healthy growth in our portfolios.”