LUXASIA, Asia Pacific beauty distribution platform, named one of Singapore's Best Managed Companies by Deloitte

SINGAPORE,July 12,2021 -- It could not be timelier for LUXASIA to win the prestigious Singapore's Best Managed Companies award from Deloitte this year. On its significance,Dr Wolfgang Baier,Group CEO of LUXASIA,says,"This award is a compelling endorsement of our transformation efforts,investments,and results achieved over the last 5 years. This success is due to our open 'One Team' culture shared by more than 2000 talents across 15 markets. We were able to merge professional management expertise and deep digital capabilities,with LUXASIA's core entrepreneurial spirit and luxury excellence spanning over 4000 points-of-sale. This prestigious recognition by Deloitte,especially after its rigorous assessment,is testament to our relentless drive in building the leading beauty omni-distribution platform in Asia Pacific."

Chairman Mr Patrick Chong & Group CEO Dr Wolfgang Baier of LUXASIA receiving the Singapore’s Best Managed Companies award,conferred by Deloitte

The inaugural Singapore edition of the awards is derived from Deloitte's global Best Managed Companies awards program,whose rigorous assessment framework is founded on more than 25 years of global practice in 37 countries,evaluating business factors such as strategy,quality of management,capabilities & innovation,culture & commitment,as well as governance & financials. LUXASIA is very proud to receive this prestigious award.

For luxury and niche beauty brands,Asia Pacific is the place to be and to enter now. Its luxury beauty market is slated to have the highest growth rate globally driven by a growing middle-class,increasingly discerning consumers,high mobile penetration,and accelerated social and online commerce growth. LUXASIA's unique and extensive omnichannel network facilitates very quick market entries,hyper growth journeys,and impactful consumer engagements.

On the bright future ahead,Mr Patrick Chong,Chairman of LUXASIA,affirms,"We are now ready to push ahead with our plans to grow our geographical footprint,developing and investing in new frontiers. The transformed LUXASIA is even better poised to help luxury beauty brands unlock the full potential of Asia Pacific and make them successful." LUXASIA's core competencies as a omnichannel distribution platform span luxury retail,e-commerce,social commerce,distribution,and data-driven consumer marketing. With these,LUXASIA now delivers greater value to all brand partners.

Concluding on a note of gratitude,both Mr Chong and Dr Baier say,"We would like to thank our more than 120 luxury beauty brand partners,as well as our myriad of retail and trade partners across the region,for their deep trust and strong support all these years."

Contact:

Brynner Jananto

brynnerjananto@luxasia.com

T:+65-6488-8928/M:+65-9856-7597