Philippines' Robinsons Retail Holdings Inc. has ventured into the cosmetics business with the acquisition of the company that operates the units that sell Shiseido and Benefit products in the country. 

InterAksyon, citing a disclosure to the Philippine Stock Exchange, said Robinsons Specialty Stores Inc. bought the assets of Beauty Skinnovations Retail Inc. (BSRI). BSRI operates eight Shiseido and two Benefit stores in shopping centers in Metro Manila, Cebu and Davao. Financial terms of the deal, however, remains unknown. Robinsons Specialty Stores is a wholly-owned subsidiary of Robinsons Retail, the report said.

Shiseido Co. Ltd. is a Japanese hair care and cosmetics producer. With 25,000 stores worldwide, it is the largest cosmetics firm in Japan and the fourth largest cosmetics company in the world, InterAksyon said. 

Meanwhile, Benefits Cosmetics LLC is a US-based manufacturer of cosmetics. It is a global beauty brand now selling at over 2,000 counters in more than 30 countries, the report said. 

Robinsons Retail is the retail arm of one of the Philippines' richest households, the Gokongwei family, the online news portal said.