Shiseido targets 15% China growth

24 January 2011

TOKYO: Shiseido is continuing its international expansion and wants to see growth in China of 15% per year.

Bloomberg reports Japan's largest cosmetics firm is trying to increase the proportion of overall sales it derives from oversease from 42% to 50%.

Shiseido launched in several new fast-growth countries, including South Africa and Mongolia, in the last year, and now plans to enter Belarus, Armenia, Albania, Kosovo and Macedonia over the months to come.

Buying into overseas firms could also form part of the general expansion strategy.

"We are interested in acquisitions if there is an opportunity," Hisayuki Suekawa, the firm's incoming president, said.

"Interest among women in skincare, makeup and haircare is increasing, boosting cosmetics use."

Mr Sukawa's appointment was announced earlier this month. He takes up the role on April 1st.

"We are still at an early stage of expanding globally so our challenge continues to be how we can further tap into the high-growth markets, especially in Asia," Suekawa said at the news conference announcing the appointment.

Data sourced from Bloomberg/Cosmetics Design Europe/Wall Street Journal; additional content by Warc staff