LUXASIA bags double hat-trick with third win at Deloitte's Best Managed Companies Singapore and three wins at Retail Asia Awards 2023

SINGAPORE,July 17,2023 -- LUXASIA has been named one of Singapore's Best Managed Companies by Deloitte for the third time running on 28 Jun 2023. In parallel,it also took home three wins at the Retail Asia Awards 2023 on 15 Jun 2023,namely Luxury Beauty Retailer of the Year for Singapore,for Philippines,and Brand Store of the Year for Indonesia. These awards are an encouraging affirmation of the company's achievements and progress,arriving timely right in the middle of its rigorous three-year strategic growth plan culminating in end 2024.

The LUXASIA & Deloitte Teams at the Deloitte Best Managed Companies Singapore awards dinner and celebrations.

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Emerging from Deloitte's strict assessment,the judging panel commended LUXASIA for its clear and strategic market penetration plan for future growth,focus on technology to improve operational efficiency and customer experience,as well as its commitment to enhancing talent acquisition,human capital management,and brand visibility. Since their last win,the Group has expanded its brand portfolio through major partnerships with the likes of Dolce & Gabbana,Huda Beauty,Laura Mercier,Olaplex,and more. Furthermore,LUXASIA continues outdoing itself by formulating a proprietary retail excellence framework called RX,aimed at bringing consistent and best-in-class retail operations and customer service quality,enabled by technology,quality control,and audit processes.

These efforts also paved the way for its triple-win at Retail Asia Awards 2023. In the past year,LUXASIA has successfully launched boutiques for the likes of Diptyque,Creed,and Maison Francis Kurkdjian,and many stores and counters for other brands,bolstering the Group's position as the largest beauty player by market share in Singapore. In the Philippines,LUXASIA has launch of its own multi-brand retail concept called SkinSmart to expand market dominance beyond fragrance into make-up,haircare,and skincare categories. Finally,in Indonesia,the Group spearheads a milestone expansion into a category adjacent to its luxury beauty core – luxury lifestyle. In partnership with a leading global consumer-tech company,LUXASIA launched 16 direct-to-consumer points-of-sales including a state-of-the-art boutique and the brand's official website. Furthermore,the team had developed a technology solution to accurately measures retail traffic and consumers' responses to campaigns,enabling iterative sharpening of mechanics.

In response,Group CEO Dr Wolfgang Baier enthuses,"We are very honored by these hat-trick wins. It is a solid affirmation of our strategy,transformation,and growth. A big THANK YOU to our amazing team of 2700 talents across Asia Pacific for your excellence and all our esteemed brand partners for your trust. Let us continue soaring together!"

Media Contact

Brynner Janato

+65 6488 8880

brynnerjananto@luxasia.com

Leaders of LUXASIA,including Chairman Patrick Chong and Group CEO Dr. Wolfgang Baier,receiving the Singapore’s Best Managed Companies Award at the awards ceremony organized by Deloitte

Deloitte BMCSG picture with WB & Deloitte CEO - Dr Wolfgang Baier receiving the Deloitte Best Managed Companies Singapore Award from Shariq Barmaky,CEO,Deloitte Singapore

The LUXASIA team,including Satyaki Banerjee,the Group’s Chief Operating Officer,at the Retail Asia Awards Gala Dinner