According to foreign reports, Shiseido Co, Japan’s largest cosmetics manufacturer, plans to increase its sales in China by at least 15% per year.
Shiseido’s new CEO, Hisayuki Suekawa, said in an interview yesterday in Tokyo that increasing women’s attention to skin care, hair care, and make-up will boost demand for beauty products. Hisayuki Suekawa, 51, will serve as CEO of the company from April this year.
Due to the slow wage growth in Japan and the aging population, Japan’s domestic demand is declining. Shiseido plans to increase its share of overseas sales from the projected 42% in the current fiscal year to 50% by 2017. Last year, Shiseido launched the DQ skin care brand and hospitalized hair care products in China.
The company’s spokesperson Megumi Kinukawa said that Shiseido’s total revenue of 644 billion yen (US$7.66 billion) was for the fiscal year ending in March 2010, with the Chinese market contributing about 10%.
Last year, Shiseido invested $1.8 billion in the acquisition of Bare Escentuals, a San Francisco-based company. This fiscal year, the company has entered nine major markets, including South Africa and Mongolia.
Shiseido’s new CEO, Hisayuki Suekawa, said in an interview yesterday in Tokyo that increasing women’s attention to skin care, hair care, and make-up will boost demand for beauty products. Hisayuki Suekawa, 51, will serve as CEO of the company from April this year.
Due to the slow wage growth in Japan and the aging population, Japan’s domestic demand is declining. Shiseido plans to increase its share of overseas sales from the projected 42% in the current fiscal year to 50% by 2017. Last year, Shiseido launched the DQ skin care brand and hospitalized hair care products in China.
The company’s spokesperson Megumi Kinukawa said that Shiseido’s total revenue of 644 billion yen (US$7.66 billion) was for the fiscal year ending in March 2010, with the Chinese market contributing about 10%.
Last year, Shiseido invested $1.8 billion in the acquisition of Bare Escentuals, a San Francisco-based company. This fiscal year, the company has entered nine major markets, including South Africa and Mongolia.
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