Philippines: Robinsons Retail invests in e-commerce site BeautyMNL

Source: BeautyMNL

Multi-format retailer Robinsons Retail Holdings Inc has acquired 20 per cent stake in Taste Central Curators Inc, the operator of Filipino e-commerce site BeautyMNL.

The Gokongwei-led firm made the investment to further expand and strengthen its presence in the beauty format and e-commerce space.

BeautyMNL sells a wide variety of beauty products online ranging from makeup, skincare, haircare among others.

Robinsons Retail acquired 1 million shares, an equivalent of 20 per cent stake in the online store operator.

Financial details of the deal were not disclosed since the transaction amount was less than 10 per cent of Robinsons stockholder’s equity as at September 2017.

The company from whom the shares were acquired is not related to the retail giant.

Robinsons Retail operates in six business segments, such as supermarkets, department stores, do-it-yourself (DIY) stores, convenience stores, drugstores, and specialty stores.

Some of the brand names under Robinsons Retail include Handyman Do it Best, True Value, Topshop, Topman, Toys R Us, Ministop, Daiso Japan, Costa Coffee, South Star Drug, and The Generics Pharmacy.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.