The Hong Kong-based Paua Group - formed in 2004 by Lucy Whittaker and Frederique Deleage - has been placed into voluntary liquidation as a consequence of being adversely impacted by the recent global downturn.

New investors acquired certain parts of the distribution and spa operating business of Paua Group and the business has been relaunched as South China Cosmetics (SCC).

Together with subsidiary company Spa Professionals Asia, SCC will distribute the Elemis and Murad skincare brands in Hong Kong and Macau, as well as operating three spas in Hong Kong.

There are also plans for South China Cosmetics to expand its business into mainland China over the next couple of years. Details: southchinacosmetics.com.hk