KOSE Acquires Shares of Puri Co., Ltd. in Thailand and Makes It Subsidiary

- Increasing Presence in Global South Markets and Accelerating Global Strategy -

TOKYO, Dec. 16, 2024 /PRNewswire/ -- KOSE Corporation, headquartered in Chuo Ward, Tokyo and Puri Co., Ltd., headquartered in Bangkok, Thailand, which operates the holistic wellness (*1) brand PANPURI mainly in Thailand, have agreed to a share transfer agreement for Puri's shares.
(*1) A concept that aims to maintain one's comprehensive physical, mental, and social health

KOSE's Logo: https://cdn.kyodonewsprwire.jp/prwfile/release/M108468/202412091364/_prw_PI1lg_R6FUNZjV.png

PANPURI's Logo: https://cdn.kyodonewsprwire.jp/prwfile/release/M108468/202412091364/_prw_PI2lg_QfkqZ5BU.jpg

Currently, under the medium-term strategy of its medium- to long-term vision, "Vision for Lifelong Beauty Partner -- Milestone 2030," KOSE aims to "add regionally rooted brands" to achieve the business growth on a global scale by optimizing its operations in each region based on the approach of "no longer doing everything on its own." By collaborating with external partners and utilizing external assets instead of sticking to its own resources, KOSE will expand its brand portfolio to meet diverse needs and accelerate the global business growth.

Established in 2003, PANPURI is a niche fragrance and holistic wellness brand that creates luxurious, multisensory experiences rooted in Eastern traditions and Thai heritage. With a dedication to clean beauty through its Zerolist (TM) standard (*2), excluding over 2,300 questionable ingredients, PANPURI is renowned for its exquisite Eastern-inspired scents, artisanal craftsmanship, and use of precious natural ingredients. Blending tradition with innovation, the brand inspires harmony and well-being through thoughtfully crafted products and rituals offering a curated range of exquisite fragrances, body care, skincare, home ambiance creations and luxurious spa experiences to nurture the senses, promote well-being, and inspire balance. Guided by its Zerolist (TM) commitment to clean formulations and a focus on sustainability, PANPURI blends artisanal craftsmanship with modern innovation to deliver products and experiences that elevate everyday rituals into moments of harmony and mindfulness. Focusing on the sophisticated product lineup, creation of stores where customers can experience the brand's world view, and customer experience such as spa services at hotels, PANPURI operates the brand's stores at luxury shopping malls, hotels, resorts, and travel retailers in Thailand, etc. It has grown rapidly in recent years through major reforms of the PANPURI brand by implementing measures such as product improvements, store development, and formulation of expansion strategies, and has established a firm position in Thailand.
(*2) The standard for exploring sustainable natural alternatives as much as possible and pursuing the creation of safe and clean products with vegan formulations and cruelty-free methods

Fragrance image: https://cdn.kyodonewsprwire.jp/prwfile/release/M108468/202412091364/_prw_PI3fl_ZMgV6CY8.jpg

By acquiring the shares of Puri, KOSE will contribute to the further growth of Puri and expand KOSE's business portfolio to increase contact points with new customers and provide further value. Through these efforts, KOSE will also strengthen its presence in the Global South markets to increase its corporate value.

Comment by Kazutoshi Kobayashi, President & CEO of KOSE Corporation
Photo: https://cdn.kyodonewsprwire.jp/prwfile/release/M108468/202412091364/_prw_PI4lg_4qILcQ6r.jpeg

"We are very happy to welcome PANPURI to the KOSE Group's brands with the acquisition of shares of Puri, which has established a firm position in Thailand as a company operating a holistic wellness lifestyle brand. We believe that PANPURI'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. With this acquisition of shares, we will accelerate the global strategy set forth in our medium- to long-term vision, and aim to establish a presence in the Global South markets and further enhance our value."

Comment by Vorravit Siripark, CEO of Puri
Photo: https://cdn.kyodonewsprwire.jp/prwfile/release/M108468/202412091364/_prw_PI5fl_9bHSg14S.jpg

"This partnership with KOSE Corporation marks a transformative milestone for PANPURI. With KOSE'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. Together, we will bring PANPURI'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."

Puri Co., Ltd.
Name: PURI CO., LTD. (brand name: PANPURI)
Location: Vanissa Building, Tower B, 20th Floor, 29 Ploenchit Road, Lumpini, Pathumwan, Bangkok 10330
Title and name of representative: Founder & CEO Vorravit Siripark
Main businesses: Sales and distribution of beauty and fragrance products and spa and wellness services
Capital: THB 13 million (as of December 31, 2023)
(Approximately JPY 58.5 million, calculated at THB 1 = JPY 4.5)
Establishment: 2003
Number of major sales agents: 26 in Thailand, etc.
Brand concept: Holistic wellness
Sales: THB 580 million (for the fiscal year ended December 2023; Approximately JPY 2,610 million, calculated at THB 1 = JPY 4.5)
Number of shares owned after change: 1,062,702 shares (voting rights ownership ratio: 79.89%)
Date of conclusion of the share transfer agreement: December 10, 2024
Stock transfer execution date: December 30, 2024 (scheduled)

PANPURI
Photo: https://cdn.kyodonewsprwire.jp/prwfile/release/M108468/202412091364/_prw_PI6fl_YpxmR2fd.png

Founded in 2003, PANPURI is a holistic wellness brand deeply rooted in Thai traditions. Renowned for its clean, sustainable, and sensorial products, PANPURI reimagines self-care through a holistic philosophy that nurtures balance, harmony, and mindfulness, bringing timeless wellness practices into modern living.

PANPURI official online store: https://www.panpuri.com/

source: KOSE Corporation