The Spanish perfume and cosmetics giant invested 12.5 million euros in the Indian company while it has acquired a minority stake in the Colombian company.
Puig, to cocquer more markets. The Spanish perfume giant, owner of brands such as Carolina Herrera, Jean Paul Gaultier, Nina Ricci or Paco Rabanne, strengthens its international presence with a minority investment in two companies, a Colombian and an Indian.
Specifically, the group has acquired a minority stake in the Indian company Kama Ayurveda, specialized in beauty and personal care products, with the possibility of increasing its holding in the next years. With that investment, which amounted to 12.5 million euros, Puig aims to foster the national and international expansion of the Indian company.
Kama Ayurveda, founded in 2002, has a strong presence in its local market. The company operates 52 own stores in India, in addition to shops-in-shops and its online platform. “This long-term alliance gives us the ability to further develop our focus on the retail business worldwide and also to be present in a market with tremendous potential,” explained Marc Puig, Chairman and CEO of the group, in a statement.
Puig aims to foster the national and international presence of both companies
Simultaneously, the giant also plans to expand in Latin America after acquiring a minority investment in Loto del Sur, a Colombian company specialized in the segment of premium cosmetics that was founded twenty years ago. “Our company’s expertise in fine perfumery and long experience in global markets will help Loto del Sur realise its ambitions for growth,” explained Puig.
The Colombian company was founded in 1999 by the entrepreneur Johana Sanint and is specialized in beauty and personal care besides cosmetics, perfumes and household products.
The Spanish group closed 2017 with a revenue of 1.93 billion euros, 8.1% more than in the previous year, although below the established objective for that year, which was to reach 2 billion. The group shot up its net profit by 47% in the same period, to 228 million euros.