Distribution deal for masstige and prestige fragrance
Italian-based Perfume Holding, the new group combining Selective Beauty and Morris, has today announced the signing of a joint venture agreement for the Asian market with Singapore-based Luxasia. According to the agreement, Perfume Holding Asia will be set up by the end of this year, based in Singapore and coordinating all marketing and sales activities of Perfume Holding in Asia. Products manufactured and supplied by Perfume Holding will be sold through both Luxasia affiliates and other distributors which are already partners of Perfume Holding in the region.
”Luxasia is the ideal partner to develop the sales and image of our prestige and masstige fragrance brands in Asia, a market which will continue to experience steady growth in the future,” commented Enrico Ceccato, president of Perfume Holding.
Patrick Chong, president of Luxasia added: “We are enthusiastic about this JV, since it is our first step to build a leadership position in the masstige market, in which Perfume Holding has a strong know-how and brand portfolio.”
Perfume Holding is the new commercial name of the group that combines Paris-based Selective Beauty and Parma-based Morris. Current licence brands through Selective Beauty include John Galliano, Trussardi, Max Mara, Iceberg and Benetton, while there is also a distribution joint venture in Italy with Interparfums.
Morris is an Italian developer, manufacturer and marketer of fragrance and cosmetics products with licenced brands including Ferrari, La Perla, Sergio Tacchini, Ducati, Fiorucci and Bois. The company also acquired soap, body care and fragrance brand Atkinsons from Procter & Gamble in 2008. Morris is based in Parma, Italy, where it manages its own manufacturing unit.
Morris and Selective Beauty are controlled by the same financial holdings in which Investindustrial holds a majority (€2.1bn) and Orlando Italy a minority (€200m) share. Ceccato is executive partner of Orlando Italy and became ceo of Morris and Selective Beauty in September 2009.
Established in 1986, the Luxasia group is a leading fragrance and beauty distributor in Asia with a portfolio comprising over 80 brands including brands from Beiersdorf, Clarins, Estée Lauder, LVMH, P&G, Puig and Shiseido. It currently has over 1,500 full-time employees in ten offices in Singapore, Malaysia, Indonesia, Philippines, Thailand, Vietnam, India, China, Hong Kong and Taiwan.