SINGAPORE, Aug. 14, 2024 /PRNewswire/ -- For the fourth year
in a row, LUXASIA has been recognized as one of Singapore's Best Managed Companies by
Deloitte. In light of these four consecutive wins, LUXASIA was also
conferred the coveted Gold status. This is testament to the
company's industry-leading performance, excellent business
practices, and sustained growth over time.
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LUXASIA first won the award back in 2021, at the end of its
successful rigorous five-year transformation which made it the
peerless omnichannel distribution platform for luxury beauty and
lifestyle in the Asia Pacific. Not
resting on its laurels, LUXASIA continued driving strong business
growth and portfolio diversification, while investing heavily into
its talents, culture, capabilities, and operations. The company's
clear yet agile strategic imperatives and focus on solid execution,
backed by its compelling results, ensured these four consecutive
annual wins and the attainment of Gold status from Deloitte.
The Best Managed Companies Awards program inspires, celebrates,
and builds communities of private companies globally. It evaluates
businesses based on domains of strategy, culture and commitment,
capabilities and innovation, as well as governance and financials.
Companies are subject to a rigorous and independent evaluation
process, benchmarked against a global standard framework applied
across thousands of aspiring companies in 46 countries.
LUXASIA is powered by a 2700-strong team, with a solid track
record of driving brand growth and success for more than 120
world-renowned luxury beauty and lifestyle brands. Notwithstanding
recent industry headwinds, LUXASIA has strategically navigated the
waves of change and judiciously enhanced its presence across many
markets in the region. With long-term growth in mind, LUXASIA
invested heavily in both retail and regional expansion, while
forging strategic partnerships with multiple brands and channel
partners alike.
Over the past 12 months, the Group has launched multiple
boutiques for the likes of Acqua di
Parma, Diptyque, and La Prairie. In partnership with SK-II,
LUXASIA launched the brand's first-ever Concept Store in the world
at Mid Valley Megamall in Kuala Lumpur,
Malaysia. Furthermore, escentials, LUXASIA's luxury niche
beauty omni-retail concept has also expanded its regional presence
significantly. In just one year, escentials has opened four new
boutiques in prime retail destinations such as The Exchange TRX
Mall in Kuala Lumpur, Crescent
Mall in Ho Chi Minh City, EmSphere
in Bangkok, and ION Orchard in
Singapore. For all its efforts,
LUXASIA also scored a hattrick win as Luxury Retailer of the Year
for Malaysia, Vietnam and Thailand at the Retail Asia Awards 2024 last
month, for its stellar growth and top-notch retail initiatives in
these markets. Most recently, the company even formed a strategic
partnership with Agence de Parfum in Australia and New
Zealand to become the preeminent beauty omni-distributor
Down Under.
"Winning the fourth time and with it, this coveted Gold status,
is a prestigious and precious recognition for us at LUXASIA. Since
our first win, challenges facing businesses globally continue to
evolve and intensify – growth and success do not come easy. Through
it all, we are deeply grateful for the contributions and dedication
of our passionate One Team, as well as the trust and support from
all our partners. We celebrate this win together," says Dr.
Wolfgang Baier, Group CEO of
LUXASIA.
"It is still an exciting time for the luxury beauty and
lifestyle in Asia Pacific, with
much growth to be unlocked in the region. Thank you to Deloitte for
your continued affirmation of the way we plan, operate, and grow.
This win is a great encouragement for our team to continually drive
brand success, develop talents, and delight consumers," says Mr.
Patrick Chong, Founder &
Chairman of LUXASIA.
CONTACT:
Brynner Jananto
brynnerjananto@luxasia.com
T: +65 6488 8928
M: +65 9856 7597
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SOURCE LUXASIA