KUALA LUMPUR: Ho Wah Genting Bhd’s (HWGB) subsidiary HWGB Capital Sdn Bhd (HCSB), has signed a conditional share sale agreement with Leong Oi Heng to acquire 55 per cent stake in Advanced Apotheke Sdn Bhd (AASB) for RM2.4 million.
HCSB, in a statement, said this partnership with AASB aligns perfectly with HCSB’s mission of innovation and meeting market demands.
“The wellness industry is ripe with potential, and with AASB’s established brand presence in organic products, we see a bright future ahead,” an HCSB spokesperson said.
The acquisition comes strategically as the organic skincare market is experiencing robust growth, propelled by the rising demand for natural alternatives to conventional beauty products.
Health-conscious consumers’ heightened awareness of the beauty industry’s environmental impact and governments’ implementation of stricter regulations on synthetic and harmful ingredients are driving this surge in demand.
Established in 2010, AASB is well known for its wide array of high-quality fragrances and organic skincare products.
With the organic skincare sector on a robust growth trajectory, ASB stands at the forefront with its unique East-meets-West approach, blending traditional Chinese medicine (TCM) therapies with contemporary Western treatments.
This holistic wellness philosophy aims to enhance mental health and body immunity, nurturing beauty and promoting healthy-looking skin.
This initiative by AASB has emerged as a major selling point, differentiating its product line into not just skin-deep but integrative health solutions.
The organic skincare market has been experiencing robust growth, driven by health-conscious consumers, environmental awareness, and stricter regulations.
With a compound annual growth rate (CAGR) of 8.5 per cent from 2022 to 2027, the global organic skincare market is expected to reach US$25 billion by 2027.
AASB’s Organic Lab carries a range of recognised brands, including Neal’s Yard Remedies, Jurlique, L’erbolario, Bloomy Lotus, and SSENSE, all representing effective, clean, and sustainable beauty.
AASB spokesperson said this partnership represents a significant milestone for the company, providing the resources and support necessary to accelerate growth and expand reach.
“With the backing of HWGB, we can focus on expanding our outlets and product offerings and concentrate on digital marketing, which is a main source of our customers.
“We are confident that this collaboration will enable us to tap into new markets and further solidify our position as a leader in the organic skincare industry.
“We are looking forward to building this into an entity that can ride on the booming organic skincare market and create a lasting impact on the wellness sector,” AASB spokesperson said in a statement.
AASB’s outlets are at Pavilion Hilltop Mont’Kiara, Exchange 106 within the Tun Razak Exchange, and the recently launched outlet at The Gardens Mall, one of Kuala Lumpur’s premium shopping destinations.
