Dubai (ANTARA News/PRNewswire-AsiaNet) - Istithmar World Capital ("IWC") and ESPA International ("ESPA") have joined forces in which IWC has acquired a 40% equity stake in ESPA.
ESPA International is a UK based global luxury spa company offering total spa solutions including: a world-renowned spa design and management division, an extensive natural product range, innovative and effective treatments and unsurpassed post graduate therapist training programmes. Since its inception in 1993, ESPA has become a leading provider of luxury spa and wellness products and services.
Chief Executive and Founder of ESPA International Susan Harmsworth said today: "I am delighted to be working in partnership with IWC, and we look forward to building on our reputation as the leading luxury spa and wellness brand in the world. As the profile of the spa consumer becomes more sophisticated and internationally travelled, it is essential that we invest in our brands' underlying infrastructure in order for us to bring greater value and further extend our services to the clients. As a brand, our commitment remains to luxury, niche and excellence in spa and wellness. We chose IWC to be our partners as they share our vision and they will help us in its execution."
Conde Nast Traveller awarded ESPA at One & Only One Reethi Rah, Maldives as the best spa for 2008. With growing evidence of consumers demanding spa packages, a spa is now seen as a 'must have' in any 5 star or above hotel, resort or leisure operation. ESPA currently operates in over 45 countries with offices in UK, USA and Hong Kong with Dubai due to open in 2008. Adel Al Shirawi, Vice Chairman of Istithmar World continued: "Our focus is on iconic brands and the luxury market is paramount to us. Our desire is to continue to build our portfolio of luxury brands, and the ever growing Spa and Wellness sector is a natural direction. In our extensive research of the global Spa market, ESPA International stands above the rest in terms of excellence in standards and reputation."
NOTES TO EDITORS
IWC
Istithmar World Capital is a private equity and alternative investment house headquartered in Dubai, United Arab Emirates, with an office in Shanghai, China. Established in 2003, we are a Dubai World company.
In the four years since its inception, Istithmar World Capital has invested in over 35 companies with total capital deployed in excess of US$ 3 billion and an aggregate enterprise value of US$ 7 billion.
Istithmar World Capital has successfully established itself as a major investment company with a broad portfolio of successful firms in markets ranging from North America and Europe to the Middle East and the Far East, as well as across a variety of sectors ranging from consumer to industrial and financial services.
Istithmar World Capital has been recognized for its success with various prestigious awards from leading industry publications such as Banker Middle East and Euromoney.
Istithmar World Capital's success is expected to continue due to its ability to uniquely leverage its ownership by capitalizing on three of its parent's strengths:
-- Patient Capital: Istithmar World Capital has access to longer-dated, patient sources of capital.
-- Flexibility of Investments: Istithmar World Capital has the ability to invest at any level of an asset's capital structure.
-- Extensive Industry Expertise and Geographic Network: Istithmar World Capital has the ability to capitalize on Dubai World's extensive industry knowledge and international network to gain exclusive insight into certain industries and regions,
source deals, procure acquisition debt, and partner with leading institutions, specially in the Middle East and North Africa (MENA), and Asia.
ESPA International
ESPA is an International Company at the most prestigious level of the Spa industry. Years of experience covering strategy, operational, conceptual and development elements of spas combined with an in depth knowledge of differing cultures, products and treatments, result in a Company which is well rounded and genuinely committed to inspired natural products, treatments and spa development. Natural interaction within the company ensures that all elements work synergistically, stimulating creative and innovative ideas that keep ESPA at the "cutting edge" of the Spa Industry and ensures the products and services remain unique.
ESPA consists of several interlinked areas:
-- Spa Design and Operations
-- Spa Management Solutions
-- Products and Treatments
-- Training
-- Recruitment
The result is fully operational spa support.
Currently operating in over 45 countries with offices in UK, USA and Hong Kong with Dubai due to open in 2008.
For further information please contact:
ESPA International
Tom Konig Oppenheimer at The Communications Store +44 (0) 207 939 1010
IWC - Contact Details:
For further information, please contact:
Hwee-Suan Ong
BPG Public Relations
Tel: +97150-875 4977
Fax: +9714-295 1027
E-mail: Hweesuan@batespangulf.com
SOURCE Istithmar World Capital
CONTACT: Tom Konig Oppenheimer of The Communications Store,
+44(0)207-939-1010, for ESPA International; or
Hwee-Suan Ong of BPG Public Relations,
+97150-875 4977, fax +9714-295 1027,
Hweesuan@batespangulf.com, for IWC
Photo: http://www.newscom.com/cgi-bin/prnh/20070805/268060
ESPA International is a UK based global luxury spa company offering total spa solutions including: a world-renowned spa design and management division, an extensive natural product range, innovative and effective treatments and unsurpassed post graduate therapist training programmes. Since its inception in 1993, ESPA has become a leading provider of luxury spa and wellness products and services.
Chief Executive and Founder of ESPA International Susan Harmsworth said today: "I am delighted to be working in partnership with IWC, and we look forward to building on our reputation as the leading luxury spa and wellness brand in the world. As the profile of the spa consumer becomes more sophisticated and internationally travelled, it is essential that we invest in our brands' underlying infrastructure in order for us to bring greater value and further extend our services to the clients. As a brand, our commitment remains to luxury, niche and excellence in spa and wellness. We chose IWC to be our partners as they share our vision and they will help us in its execution."
Conde Nast Traveller awarded ESPA at One & Only One Reethi Rah, Maldives as the best spa for 2008. With growing evidence of consumers demanding spa packages, a spa is now seen as a 'must have' in any 5 star or above hotel, resort or leisure operation. ESPA currently operates in over 45 countries with offices in UK, USA and Hong Kong with Dubai due to open in 2008. Adel Al Shirawi, Vice Chairman of Istithmar World continued: "Our focus is on iconic brands and the luxury market is paramount to us. Our desire is to continue to build our portfolio of luxury brands, and the ever growing Spa and Wellness sector is a natural direction. In our extensive research of the global Spa market, ESPA International stands above the rest in terms of excellence in standards and reputation."
NOTES TO EDITORS
IWC
Istithmar World Capital is a private equity and alternative investment house headquartered in Dubai, United Arab Emirates, with an office in Shanghai, China. Established in 2003, we are a Dubai World company.
In the four years since its inception, Istithmar World Capital has invested in over 35 companies with total capital deployed in excess of US$ 3 billion and an aggregate enterprise value of US$ 7 billion.
Istithmar World Capital has successfully established itself as a major investment company with a broad portfolio of successful firms in markets ranging from North America and Europe to the Middle East and the Far East, as well as across a variety of sectors ranging from consumer to industrial and financial services.
Istithmar World Capital has been recognized for its success with various prestigious awards from leading industry publications such as Banker Middle East and Euromoney.
Istithmar World Capital's success is expected to continue due to its ability to uniquely leverage its ownership by capitalizing on three of its parent's strengths:
-- Patient Capital: Istithmar World Capital has access to longer-dated, patient sources of capital.
-- Flexibility of Investments: Istithmar World Capital has the ability to invest at any level of an asset's capital structure.
-- Extensive Industry Expertise and Geographic Network: Istithmar World Capital has the ability to capitalize on Dubai World's extensive industry knowledge and international network to gain exclusive insight into certain industries and regions,
source deals, procure acquisition debt, and partner with leading institutions, specially in the Middle East and North Africa (MENA), and Asia.
ESPA International
ESPA is an International Company at the most prestigious level of the Spa industry. Years of experience covering strategy, operational, conceptual and development elements of spas combined with an in depth knowledge of differing cultures, products and treatments, result in a Company which is well rounded and genuinely committed to inspired natural products, treatments and spa development. Natural interaction within the company ensures that all elements work synergistically, stimulating creative and innovative ideas that keep ESPA at the "cutting edge" of the Spa Industry and ensures the products and services remain unique.
ESPA consists of several interlinked areas:
-- Spa Design and Operations
-- Spa Management Solutions
-- Products and Treatments
-- Training
-- Recruitment
The result is fully operational spa support.
Currently operating in over 45 countries with offices in UK, USA and Hong Kong with Dubai due to open in 2008.
For further information please contact:
ESPA International
Tom Konig Oppenheimer at The Communications Store +44 (0) 207 939 1010
IWC - Contact Details:
For further information, please contact:
Hwee-Suan Ong
BPG Public Relations
Tel: +97150-875 4977
Fax: +9714-295 1027
E-mail: Hweesuan@batespangulf.com
SOURCE Istithmar World Capital
CONTACT: Tom Konig Oppenheimer of The Communications Store,
+44(0)207-939-1010, for ESPA International; or
Hwee-Suan Ong of BPG Public Relations,
+97150-875 4977, fax +9714-295 1027,
Hweesuan@batespangulf.com, for IWC
Photo: http://www.newscom.com/cgi-bin/prnh/20070805/268060
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