Bath fittings and sanitary ware major Jaquar Group has acquired a majority stake in the South Korea-based Joeyforlife by investing $1.2 million, as part of efforts to expand its global footprint.
Jaquar, which has acquired 51 per cent stake in luxury shower maker Joeyforlife, said the move would help it to expand its business in South Korea and South East Asian countries. “It would reinforce our technical strength and secondly Joeyforlife, which is working in far east region aggressively…we would get an access to this quite potential market of the South East Asian region,” Jaquar Group Director and Promoter Rajesh Mehra told. On being asked about the synergy, he said: “Joeyforlife is into high-end products as shower and faucet and Jaquar has a complete portfolio of bathing solutions. Now pooling them together, we can enhance our portfolio.”