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Shiseido Bets on Southeast Asia, China, for Global Sales Boost

Shiseido store in Shanghai, China. Shutterstock.
Shiseido store in Shanghai, China. Shutterstock.

As well as long-time stronghold mainland China, the Japanese beauty giant is counting on Southeast Asian markets to help it reach its 1 trillion yen ($8.9 billion) global sales target by 2023, Nikkei Asia writes.

While Thailand, Vietnam, Singapore, Malaysia and the Philippines have become priorities in the Asia Pacific region for Shiseido, Indonesia and India are also in its sights, group president Masahiko Uotani said at an event on Nov. 9. He noted that demand for skincare, particularly sun care offerings, is on the rise in the region.

This comes as Shiseido meets obstacles in South Korea, where Japanese companies are the subjects of ongoing boycotts, the result of long-running geopolitical tensions. But Uotani said Shiseido “will never withdraw” from the major market.

Learn more:

Luxury’s Southeast Asia E-Commerce Opportunity

Growing demand for luxury goods is coinciding with an e-commerce boom in key markets like Singapore, Indonesia and Thailand, but brands are behind the curve.

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