New era dawns for Thai brand Pañpuri

 

Thai luxury fragrance brand Pañpuri has been acquired by the renowned Japanese cosmetics conglomerate Kosé Group and is now positioned to expand its global reach in the luxury market.

 

While financial details of the acquisition announced on December 10 remain undisclosed, reports from Business of Fashion anticipate the brand will generate approximately US$32 million (around 10 billion baht) in revenue in 2024.

 

According to a joint statement, The acquisition aligns with KOSÉs medium- to long-term vision, “Vision for Lifelong Beauty Partner - Milestone 2030,” which emphasizes global growth through strategic partnerships with brands that resonate deeply with their communities and values.

 

This partnership will support PAÑPURI to propel in the international market as an authentic luxury wellness brand from Asia.

 

 

“We are delighted to welcome PAÑPURI to the Group through our acquisition of a stake in PURI, a well-established holistic wellness and lifestyle brand in Thailand,” remarked Kazutoshi Kobayashi, President and CEO of KOSÉ Corporation. “Beyond its efficacy as a cosmetic product, PAÑPURI's traditional approach and dedication to fragrance—handed down through generations in Thailand—along with its sophisticated product design that enhances user comfort and mental well-being, align closely with our company's heritage of tradition and innovation, while continually pursuing sensory quality.”
 

 

 

 

Known for its premium bath and body, haircare, skincare and fragrance products inspired by Thai wellness traditions, Pañpuri operates 26 standalone stores in Thailand and is featured in upscale malls and spas, including Central World and Emquartie

 

 

The brand has also made its mark internationally, with a presence in 15 countries across Europe and Asia, including Japan's Isetan Shinjuku and Hankyu Umeda department stores, as well as K11 Musea in Hong Kong.

 

Kosé's acquisition is set to enhance Pañpuri's position as an “authentic luxury wellness brand from Asia” in international markets.

 

“Becoming part of the KOSÉ family represents a remarkable milestone for PAÑPURI,” stated Vorravit Siripark, Founder and CEO of PAÑPURI. “This partnership enables us to elevate our mission of sharing holistic wellness with a global audience. Together with KOSÉ, we can extend our unique approach to well-being while remaining true to the core values that define us.”

 

 

Lakeshore Capital, PAÑPURI’s majority stakeholder, also conveyed its confidence in the partnership: “We are proud to have played a role in PAÑPURI’s incredible journey and are excited to witness its flourishing in the next chapter with KOSÉ,” commented Panaikorn Chartikavanij, Managing Partner at Lakeshore Capital. “This partnership will honour PAÑPURI’s legacy while unlocking its potential to inspire well-being on a global scale.”
 

 

Kosé boasts a portfolio that includes distinguished brands like Decorté, established in 1970, and Tarte, a US cosmetics label acquired in 2014.

 

 

This acquisition reinforces KOSÉ’s ongoing commitment to cultivating a portfolio of purpose-driven brands that enrich lives, respect heritage, and redefine the future of beauty and wellness.

 

PwC Thailand served as the exclusive lead financial advisor to PAÑPURI.

 

Founded in 2003, Pañpuri has positioned itself as a luxury brand from the outset, aiming to become the premier Thai brand in the fragrance market.

 

 

 

 

In an interview with Krunthep Turakij, Voravit said the inspiration for the brand stemmed from his childhood memories of his grandmother creating jasmine-scented water, which ignited his passion for fragrance.

 

“Those memories inspired our first scent, a tribute to my grandmother. This sparked our interest in wellness, allowing us to reinterpret our cultural heritage and share ‘Thainess’ with a global audience,” he explained.

 

Vorravit likened brand development to a marathon, highlighting the importance of perseverance despite facing numerous rejections.

 

“Brands in Italy and France have thrived for decades, even centuries, because of the dedication of those who came before. I believe that what we’ve accomplished in our first 20 years will pave the way for future success.”

 

Pañpuri has consistently innovated, becoming a pioneer in using purely natural ingredients at a time when no other Thai brands were doing so.

 

“When we launched organic soap in 2006, we had to source rare ingredients from around the world, as they weren’t available in Thailand. This was a significant challenge, but we insisted on maintaining high quality,” he noted.

 

Today, Pañpuri stands as a competitive force against foreign brands.

 

“While foreign brands have more experience, Thai consumers are increasingly supportive of local products. There’s a noticeable shift as they appreciate the uniqueness of what we offer. Tourists, in particular, seek out the best Thai products, and we fulfil that demand. We now compete confidently with international brands, excelling in product quality, branding, and retail presence,” he added.