Lily Beauty Spa will close its doors in Kuala Lumpur on Wednesday, and its assets will be sold in Malaysia, the Malaysian arm of the cosmetics giant said.
Lily Beauty Spa is Malaysia’s largest beauty brand and is based in the Malaysian capital.
Its flagship brands are the Lily Beauty and Lush brands, as well as the Lush, Lumi and Lululemon brands.
The Lily Beauty spa, which was opened in 2002, was also known for its high-end spa services, which are seen as luxury products for wealthy clients.
It opened its doors as the world’s largest luxury spa in 2007 and has more than 8,000 massage therapists in its network of clients.
The sale of its assets has been in the works for more than a year.
In March, the cosmetics company said it was closing the business and closing its offices in Malaysia.
“The acquisition of the assets and operations in Malaysia is part of the overall plan to grow the company,” said the statement on its website.
(Reuters) Lili Beauty, which has operations in Singapore, the Philippines, Vietnam and Hong Kong, was founded in 1988.
Since its inception, the brand has expanded to more than 30 countries, and is part-owned by Lili Enterprises Holdings, a holding company of the company, Lili Beauty said in its statement.
“Our main focus in the last year has been to expand and grow the brand.
Our team members have already been working with Lili to implement the plans we have put in place, and we will be launching a new beauty service in Malaysia in the coming months,” it said.”
The Lili group will continue to support the Lily brand and all of our partners.”
In a statement, Lillies said it would be taking a “careful and thorough” look at its business strategy in Malaysia to ensure it was able to meet its goals, adding that it has been working closely with Lillie to implement its plans in the country.
“We have a clear vision and will continue working hard to achieve this vision.
We look forward to meeting all our commitments,” it added. Read more: