Perfumarie Forms a Joint Venture with INFRA-Apparel Groupe to Bring its Luxury Beauty Portfolio into Asia
NEW YORK and SHANGHAI – INFRA-APPAREL GROUPE LIMITED ("INFRA"), a consumer-centric boutique brand house at the cynosure of aspirational luxury innovation, and PERFUMARIE INC. ("Perfumarie"), a brand incubator for sensory companies from around the world, today announced that they had created a new Joint Venture ("JV" or "Perfumarie Asia") to expand Perfumarie's reach into Asia.
The JV will exclusively operate Perfumarie in Greater China (including Mainland China, Hong Kong SAR, and Macau SAR) and Taiwan. Perfumarie will leverage INFRA's expertise in scaling-up luxury brands in the region to extend its reach into the Asian market. Through this partnership, Perfumarie evolves its strength in curating, incubating, and developing products on a global scale.
Inspired by its home studio and private club in SoHo, NYC, Perfumarie Asia will showcase its brand portfolio via dynamic, immersive experiences in shoppable, retail labs. The multi-sensorial gathering spaces designed by AvroKO, a world-renowned interior design firm, will serve as a gathering space for collectors, artisans, and innovators in fragrance, flavor, technology, and art.
Richard "Ricci" Kisembo, Chief Executive & CMO of INFRA, commented: "Perfumarie creates a foundation for INFRA's niche Scent & Complexion business as well as INFRA's next-generation Selective Retailing concept, and we are excited with this partnership. Mindy has developed Perfumarie into an innovative purveyor and incubator of scent and complexion. INFRA believes that Perfumarie’s overarching model is the future of individually experiencing visceral scent driven products. We look forward to leveraging Perfumarie's design and sourcing expertise to curate provocative scent experiences. The niche scent and complexion segment continue to grow exponentially in Asia, especially with the Chinese consumer's advent into personalized experiences, and we intend to be a forefront actor, catering to this need to differentiate."
"Euromonitor estimates that China's fragrance market will be worth $1.7bn by 2023. With connection, community, and commerce as our pillars, Perfumarie is thrilled to partner with INFRA on this journey to empower entrepreneurship. In addition to my role for Perfumarie USA, I will continue to curate, develop unique products, build bridges, and especially support clean, sustainable, functional, technical, women and minority-owned brands for Perfumarie Asia. As an advisor, designer, and champion for talented brands, Perfumarie Asia offers an alternative distribution model that includes funding and product development support. Holistically, we shall create new, extraordinary opportunities for our makers by lowering the entry barrier for companies on a global scale. Our joint venture team will help Asian consumers discover more niche brands over big-name luxury brands in new, exciting, and efficient ways," shared Mindy Yang, Founder & CEO of Perfumarie.
The Boards of Directors of INFRA and Perfumarie have approved the terms of the JV transaction. The JV will be based in Singapore, with subsidiaries in Shanghai, and conditional on regulatory approval from three Chinese governmental authorities, NDRC, MOFCOM, and SAFE. The JV anticipates its regulatory approvals to complete before July 31, 2021.
The first Perfumarie digital retail store will launch in the Summer of 2021, followed closely with two flagship locations in Shanghai and Beijing in mid Fall of 2021.
INFRA is a consumer-centric brand house at the cynosure of aspirational luxury innovation and holds vested interests in a portfolio of global fashion and lifestyle brands. INFRA brings a wealth of experience in digital marketing, e-commerce operations, and building successful joint ventures in Greater China. INFRA, together with its affiliates, are Joint Venture partners to Ted Baker in Greater China, operating 20+ Flagship retail stores and e-Commerce.