Puig has taken a majority stake in Loto del Sur, Colombia’s leading natural cosmetics brand.
Financial terms of the deal were not disclosed.
The family-owned Spanish beauty and fashion house had purchased a minority stake in the company in March 2019. said in a statement Wednesday that Loto del Sur, which has a range of natural products made from Latin American flora, has large growth potential.Loto del Sur’s founder Johana Sanint will continue steering the Bogota-based brand. Puig said no changes are expected to be made to the company’s business model, which is built on its own retail network.
Puig said it remains committed to boosting Loto del Sur’s leadership in Latin America and bolstering its international growth. The brand will be launched in Spain, with the opening of a store in Madrid, and in North America, with a door in Miami. Loto del Sur’s reach in Latin America will broaden, beginning with countries such as Mexico and Chile.
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