Kosé gains Thai wellness brand Pañpuri for support in global expansion
Japanese beauty conglomerate Kosé will acquire Thailand-based wellness brand Pañpuri to expand its global presence.
The cosmetics and beauty company caters to a global market with a strong presence in Japan. It has set the goal of “adding regionally rooted brands” to optimize its presence in each region so it no longer has the sole responsibility of operations.
Pañpuri creates luxury, multisensory products inspired by Eastern beauty traditions and Thai heritage. Its lineup includes bath, body, hair and skin care products alongside fragrances. The brand’s solutions can be found in Japan, China and Europe. In August, it expanded to Hong Kong.
Kosé’s portfolio includes luxury skin care Decorté and Tarte. Parent company, Puri, will be a subsidiary to strengthen Kosé’s performance in the ASEAN and Indian markets.
Vorravit Siripark, chief executive of Puri, says: “This partnership with Kosé Corporation marks a transformative milestone for Pañpuri. With Kosé’s global innovation, expertise and resources, we are excited to elevate our vision of Thai holistic wellness and beauty, rooted in the wisdom of our traditions and a commitment to clean, sustainable practices.”
Global lookahead
The acquisition is part of Kosé’s medium- to long-term vision: “Vision for Lifelong Beauty Partner - Milestone 2030.” It believes Puri will expand its brand portfolio to “meet diverse needs and aim for global business growth” and help it push into the wellness space.
“Together, we will bring Pañpuri’s unique approach to wellness - blending Thai craftsmanship, mindfulness, and sensorial excellence - to a broader global audience. This collaboration allows us to preserve our heritage while embracing a future of growth, innovation, and shared passion for creating meaningful beauty experiences,” says Siripark.
Kazutoshi Kobayashi, president and CEO of Kosé, adds: “We believe that Pañpuri’s traditional approach from ancient times in Thailand and sophisticated product design, which creates cosmetics that feel good to use and enrich the mind on top of being effective, highly align with our constant approach since our establishment to continually pursue sensory quality while inheriting tradition and innovation.”
The financial terms of the deal were not disclosed.
Puri is expected to become a consolidated subsidiary of Kosé effective December 30 this year. Kosé says the acquisition’s impact on its consolidated financial results for the fiscal year ending December 2024 is expected to be minimal.
Financial results
Kosé’s Q3 earnings revealed net sales of ¥238.7 billion (US$1.56 billion), a 9% increase year-over-year. The corporation attributes this to its performances in Japan and the Tarte brand despite facing challenges in the Chinese market.
Challenges in the Greater China region, including restructuring expenses, resulted in a 28.4% drop in profit attributable to the company's owners.
However, Kosé’s operating profit rose by 17.4% to ¥18.8 billion (US$123.2 million), but the operating margin dipped due to increased costs.
