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Spanish perfume group Puig takes control of the Colombian Loto del Sur

Spanish perfume group Puig takes control of the Colombian Loto del Sur

The fashion and fragrance group Spanish Puig has come to control Loto del Sur, brand colombian of high-end natural cosmetic products.

Puig, who had a minority stake in the company since 2019, plans to strengthen the brand’s presence in Latin America and boost its international expansion.

In this sense, it will reach the Spanish market with the opening of a first store in Madrid and also in the United States with a point of sale in Miami (Florida). Likewise, it will expand its presence in Latin America, starting with Mexico and Chile.

The founder of Loto del Sur, Johana Sanint, will continue to lead the brand and no changes are expected in the company’s business model, based on distribution in its own stores, Puig reported on Wednesday.

Founded in 1999, Loto del Sur makes its products based on natural ingredients from native flora and has a network of 21 own stores in Colombia.

Loto del Sur now joins the Puig range, which includes brands such as Paco Rabanne, Carolina Herrera, Jean Paul Gaultier, Dries Van Noten, Nina Ricci, Charlotte Tilbury and Byredo.

“The brand will contribute to achieving the Spanish company’s objectives, recently announced, of doubling 2020 turnover in 2023 and tripling it in 2025,” Puig said in a statement.

The Spanish multinational, which in 2021 registered sales of 2,585 million euros, sells its products in more than 150 countries and has its own offices in 29 of them.

Source: Gestion

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