Robinsons Retail acquires 20% stake in beauty site operator

FILE: (Photo by RioHondo at English Wikipedia, CC BY-SA 3.0.)

MANILA — Gokongwei-led retailer Robinsons Retail Holdings Inc. (RRHI) is ramping up its online presence with a 20-percent stake acquisition in Taste Central Curators Inc.

RRHI told the local bourse it bought one million shares of Taste Central, the operator of BeautyMNL, an industry leader in the local beauty e-commerce space.

The company said the acquisition was intended “to further expand and strengthen RRHI’s presence in the beauty format and e-commerce space.”

RHI operates its supermarkets, department stores, consumer electronics and appliances stores, big box hardware stores, and community malls under the “Robinsons” brand name.  (PNA)