PARIS – Japan’s Kosé is pushing into regionally rooted brands and the wellness space with the acquisition of Pañpuri, based in Bangkok.
Financial terms of the deal, which turns Pañpuri parent company Puri Co. Ltd. into a Kosé subsidiary, is part of the Japanese beauty giant’s medium strategy to “add regionally rooted brands” so as to achieve business growth globally.
The transaction involves 1,062,702 shares and should close Dec. 30. The rest of the shares are expected to be acquired in the upcoming three to five years.
Kosé said the impact on its consolidated financial results for full-year 2024 should be minimal.
“By collaborating with external partners and utilizing external assets instead of sticking to its own resources, Kosé will expand its brand portfolio to meet diverse needs and accelerate the global business growth,” the company said in a statement Tuesday.
Pañpuri, a clean prestige niche fragrance and holistic beauty brand mixing eastern traditions and Thai heritage, was launched in 2003. Its range includes perfumes, body care, skin care, home fragrance and spa experiences.
The brand is sold in luxury malls, hotels, resorts and travel retailers in Thailand. Pañpuri products are also found in Japan, China and Europe online and through sales agents. In August, the brand’s business expanded into Hong Kong.
In 2023, parent company Puri registered sales of 580 million Thai baht, or $17.2 million.
“With this acquisition of shares, we will accelerate the global strategy set forth in our medium- to long-term vision, and aim to establish a presence in the global south markets and further enhance our value,” said Kazutoshi Kobayashi, president and chief executive officer of Kosé Corp., in the statement.
Vorravit Siripark, CEO of Puri, said that with Kosé “we will bring Pañpuri’s unique approach to wellness – blending Thai craftsmanship, mindfulness and sensorial excellence – to a broader audience. This collaboration allows us to preserve our heritage while embracing a future of growth, innovation and shared passion for creating meaningful beauty experiences.”
