Pola Orbis announces new subsidiary to manage group TR business
Today Pola Orbis Holdings Inc. has announced that as of January 4, 2021, it will establish a new company, POLA ORBIS Travel Retail Limited in Hong Kong, as a consolidated subsidiary to manage the group travel retail business.
While the company admits that the travel retail market is currently experiencing difficult conditions, the China duty-free market continues to grow strongly.
Travel retail is expected to grow again outside of China once COVID-19 subsides, but is also an important channel for the company’s overseas growth strategies, as it is expected to grow again.
The POLA ORBIS Group brands such as POLA, Jurlique, and THREE have joined forces to speed up business expansion by integrating resources and strengths in the travel retail business, which until this point have been developed individually by the individual companies.
In Hong Kong POLA ORBIS will establish a sales company specializing in travel retail to handle all group brands, with an aim to integrate the entire travel retail business within this new company in future.
The new company will be established as of January 4 2021, and will commence in April, 2021.