MANILA -- Robinsons Retail Holdings said Thursday its supermarket unit divested from cosmetics and nail care products maker Chic Centre Corp to focus on its core business.
Chic Centre, whose brands include Bobbie, Chic, Colortrends and Rain, "is no longer aligned" with Robinsons Supermarket, the retail arm of the Gokongwei Group told the stock exchange.
Robinsons Retail said the sale of its stake in Chic Centre will not not adversely affect operations. It gave no further details.
The holding firm acquired a 100-percent interest in Chic Centre in October 2016, seeking to leverage its three-fourths share of the nail care industry, according to Robinsons Retail's website.
The year before Robinsons acquired it, Chic expanded to fresh slush and juices in convenience stores, supermarkets and business process outsourcing (BPO) centers.