Asian distribution company LUXASIA has been recognized as one of Singapore’s Best Managed Companies by Deloitte for the fourth year in a row. Having won the award four times, LUXASIA was also conferred Gold status by Deloitte.
The Best Managed Companies Awards program recognizes private companies globally and evaluates businesses based on strategy, culture and commitment, capabilities and innovation, as well as governance and financials. Companies are subject to an independent evaluation process and benchmarked against a global standard framework applied across thousands of concerns in 46 countries.
LUXASIA first won the award in 2021, following the company’s five-year transformation strategy.
LUXASIA says that despite recent industry headwinds, it has boosted its presence in a number of markets in Asia. Over the past year, the company, which works with more than 120 luxury beauty and lifestyle brands, has launched a string of boutiques in Asia for brands such as Acqua di Parma, Diptyque and La Prairie. In partnership with SK-II, LUXASIA also launched the brand’s first concept store globally at Mid Valley Megamall in Kuala Lumpur, Malaysia.
In addition, LUXASIA has expanded its luxury niche beauty retail concept, escentials, having opened four new boutiques in the past year in prime retail destinations, such as The Exchange TRX Mall in Kuala Lumpur, Malaysia, Crescent Mall in Ho Chi Minh City, Vietnam, EmSphere in Bangkok, Thailand, and ION Orchard in Singapore.