Puig buys stake in Colombian premium beauty player
Puig executives say they will support the growth of Loto del Sur, as the retail brand pursues a strategy of international expansion, beyond it domestic Colombian market.
Puig is eager to develop and deepen its investment in the Colombian business, stating that it is has the option to further increase its stake in the company in the coming years.
Puig and Lot del Sur eye longer-term relationship
With the ambition of developing a longer-term working relationship, the two companies have clear common ground and synergies to share in the premium fragrance space.
Loto del Sur’s portfolio currently extends beyond fragrance to also include an extensive range of carefully crafted home fragrances, bath and body as well as facial care products.
The company was founded twenty years ago by the entrepreneur Johana Sanint, and has built a reputation as a distinctively Latin American brand, sourcing materials and formulations from throughout region wherever possible.
Puig’s focus is international expansion
Puig is a family-run business that has been in operation for over 100 years and owns brands such as Nina Ricci, Carolina Herrera and Paco Rabanne. It is also a major stakeholder in Jean Paul Gaultier perfumes, including Comme des Garcons.
“Our company’s expertise in fine perfumery and long experience in global markets will help Loto del Sur realise its ambitions for growth,” Puig executives said in a press statement.
Puig has been undergoing a significant international expansion in recent years, and most recently bought a controlling stake in Indian beauty and personal care company Kama Ayurveda.
The international focus for the business has helped to boost the company’s revenues significantly, with 2017 revenues growing by 8.1%, coming in at a little below Euros 2 billion.
