The Japan-based Kose Corporation has acquired Panpuri, the Thai holistic beauty and wellness brand, from Lakeshore Capital and other shareholders.
Kose said in a statement the acquisition supports its medium- to long-term vision, which emphasises global expansion through strategic partnerships with brands that resonate deeply with its communities and values.
The move underscores Kose's commitment to building a portfolio of purpose-driven brands that enrich lives, respect heritage, and redefine the future of beauty and wellness, said the firm.
"Panpuri's traditional approach and commitment to fragrance, along with its sophisticated product design, which is comfortable to use and enriches the mind, aligns with our company," said Kazutoshi Kobayashi, president and chief executive of Kose.
This partnership is expected to elevate Panpuri's presence in the international market as an authentic luxury wellness brand from Asia, according to Kose.
Founded in 2003, Panpuri was a pioneer in holistic wellness, renowned for its clean, sustainable and sensorial products.
Vorravit Siripark, founder and chief executive of Panpuri, said this partnership would enable the company to expand its mission of sharing holistic wellness with the world.
The company aims to introduce its approach to well-being to new markets, while staying true to its core values, he said.
Details regarding the percentage of ownership Kose now holds in Panpuri following this acquisition have yet to be disclosed.
According to Forbes Thailand's report in July 2024, Mr Vorravit expressed optimism about the company's performance this year. He projected sales would surpass 1 billion baht, 80% year-on-year growth, with net profit exceeding 200 million baht.
The company reported total sales of 576 million baht in 2023 and 493 million baht in the first half of 2024.
Before the deal, Panpuri had a portfolio featuring five main categories of products and services: fine fragrances, bath and body, skincare, home fragrance, and wellness and spa services.
The company operates 26 stores across Thailand and opened its first store in Hong Kong in August 2024. Panpuri manages four luxury spas in Thailand and Malaysia in high-end malls and five-star hotels, according to the company.
