Cosfibel Group has announced that is to strengthen its position in the luxury consumer goods market by acquiring Gift ID and Asian Luxury. Both companies will fall under the group’s Cosfibel Premium business, which focuses on luxury set up boxes and promotional items and is managed by Ilan Schinazi.
Paris based Gift ID, a key player in gift design for more than 20 major brands in the luxury and cosmetics markets will retain its autonomy and existing management team. Meanwhile, Cosfibel says that it will be able to provide both financial stability and a better commercial network for Hong Kong based company Asian Luxury, which specialises in luxury gifts such as leather goods and which in turn will provide Cosfibel Premium with a unique perspective on prestige products.