Robinsons Retail acquires Shiseido, Benefit stores in Philippines

ABS-CBN News

Posted at Dec 16 2013 10:51 AM | Updated as of Dec 16 2013 06:53 PM

MANILA, Philippines - Gokongwei-led Robinsons Retail Holdings will now add cosmetics stores to its portfolio, as it acquired the right to operate and distribute Shiseido and Benefit stores in the Philippines.

In a disclosure to the stock exchange, Robinsons Retail said its subsidiary Robinsons Specialty Stores has acquired the assets of Beauty Skinnovations Retail, which operates 8 Shiseido stores and 2 Benefit stores in Metro Manila, Cebu and Davao.

"The acquisition includes the right to sell Shiseido and Benefit cosmetics products under a distribution agreement with Luxasia Inc, a leading distributor of world-renowned fragrance and cosmetics brands in the Philippines, and L Beauty Asia Inc, distributor of prestigious LVMH beauty brands in the Philippines," the company said.

Shiseido is the largest cosmetics firm in Japan, offering a wide array of skincare, makeup and fragrance products in 25,000 store outlets around the world.

US-based Benefit Cosmetics is a global beauty brand that offers makeup products in quirky packaging.

Robinsons Retail said the 10 cosmetics stores will add to its over 1,000 store network around the country.

Robinsons Retail is the country's second largest multi-format retail company with Robinsons Department Store, Robinsons Supermarket, Ministop, South Star Drug, Handyman Do it Best, True Value, Howards Storage World, Robinsons Appliances, Toys 'R' Us and Saizen. It also operates stores of international brands such as Topshop, Topman, Dorothy Perkins, Warehouse and G2000.