THE WHAT? The Asian distributor of FANCL is rumored to be putting the skin care brand up for sale, according to a report published by Reuters.
THE DETAILS Reuters reports that ex-Japan distributor CMC Holdings has drafted in Morgan Stanley to sound out buyers for FANCL Asia, and is hoping to raise some US$1 billion for its 200 stores across Greater China and Southeast Asia.
The auction will reportedly take place over two rounds, with first-round bids expected by September’s close. All parties declined to comment when approached by Reuters.
THE WHY? While the brand has been hit by store closures as a result of the GVC, Asia’s skin care market is still expected to achieve 5 percent annual growth and China’s beauty market has bounced back fast, making the brand an attractive prospect for buyers.