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Philippines' Robinsons Retail buys 20% stake in Taste Central Curators

Filipino retail giant Robinsons Retail Holdings Inc. bought a 20% stake in Taste Central Curators Inc. for an undisclosed sum to expand and strengthen its position in the beauty products market, especially e-commerce, the company said Dec. 13 in a regulatory filing.

Taste Central Curators runs the BeautyMNL brand, which sells beauty products on its online portal and mobile app.

The stake represents 1 million shares of Taste Central, and the transaction amount translates to less than 10% of Robinsons Retail's stockholders' equity as of September-end, according to the filing.