Retail in Asia

In Markets

Brazil’s Natura creates subsidiary in Singapore

Brazil's Natura

Brazil’s Natura Cosmeticos SA is creating a subsidiary to manage its Singapore operations, the company said, as the global cosmetics firm seeks to boost its sales in East Asia.

SEE ALSO : Shiseido Singapore launches My Japanese Beauty Pop-Up Store

In a securities filing, Natura said its board had approved the creation of the subsidiary, which will be 100% held by the parent firm.

The company did not elaborate on the structure of the new subsidiary nor offer a strategic rationale.

Natura executives have said the firm is looking to boost its business in Asia and has plans to double its presence in key markets such as Japan and South Korea.

SEE ALSO : Shopee opens regional headquarters in Singapore

The firm has a physical presence in Singapore through its Aesop and The Body Shop brands, though the size of its operations in Singapore was not immediately clear.

(Source: Fashion Network)