Beauty Brands Shiseido and L’Oreal’s Lancome Boost Business in China
Being the second largest cosmetics consumer market of the world, China is surely an attractive place for the producers in cosmetic industry. It is expected that the online cosmetics sale, which was recorded 25.3 percent in 2018, might reach 31.4 percent by 2022. Focused to grab opportunities, the top cosmetics brands, Shiseido and L’Oreal’s Lancome are looking forward to increase sales by reaching the middle class in Southeast Asia and Japan.
Hoping to achieve sales target of at least 1.29 trillion yen ($11.8 billion) in 2020, Shiseido has opened a new factory in Tochigi prefecture, north of Tokyo. The news comes as a response to rising demand for the “Made in Japan” products from the Asian countries and tourists.
Speaking at a news conference, CEO Masahiko Uotani highlighted that the firm is looking forth to opportunities because of lack of production capacities. The new plant, he added, will have production capacity of nearly 120 million items and will deliver products that are safe, reliable and of high quality.
For expansion motives, Shiseido has allocated nearly 170 billion yen and is planning to open two plants in Osaka and Fukuoka in 2020 and 2022 respectively. Sources claim, the Tochigi factory will produce skin care products in the mid-to-high price range including the brands IPSA and Elixir.
Masahiko Uotani said, “We will be able to roll out domestic brands which have not been launched yet in some countries.” He claims that there is a lot of potential in Southeast Asia, majorly in emerging markets of Thailand, Malaysia and Indonesia as people have started spending more with rising incomes.
As holiday season is nearing, Shiseido has unveiled its special festive season kits. The Japanese multinational has partnered with millennial artist Hideki Inaba for Shiseido Beauty Blossoms, which features the Ultimune Power Infusing Concentrate and the ModernMatte Power Lipstick Holiday Mini Lip Bouquet.
As stated by the Travel Retail President and CEO of the firm, Philippe Lesne, “Our line-up this year taps into the growing trend for a pop of colour, particularly in our core Asian market, and we are confident that these collections will inspire travellers who are seeking out gifts and limited-edition make-up sets this festive season.”
Already exporting luxury brands like Shu Uemura and Lancome to greater China region and Southeast Asia, Lancome’s Chief executive, Francoise Lehmann announced plans to open a flagship store in China at the Paris showcase this week.
Lancome is launching a 300 square meter flagship store on Paris’ Champs Elysee avenue. The concept that includes video gimmicks on interactive walls, mirrors similar moves by other fashion or sporting brands. Sources have reported Lancome plans to open another flagship store in Beijing in 2020.
Lehmann claims that young Chinese women are drawn very early on to skincare products and so China makes the perfect market to be reached out to by cosmetic brands like Shiseido, L’Oreal’s Lancome and Christian Louboutin Beauty.
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