Shiseido In Talks With CVC On Transfer And Joint Management Of Personal Care Business
Shiseido Co. Ltd. (SSDOY.PK), a Japanese personal care company, Friday said it is currently in discussions with CVC Asia Pacific Limited regarding a transfer of its Personal Care business around the first half of this year.
The talks are regarding the business mainly operated globally in Asia, and operated by FT Shiseido Co., Ltd. in Japan
In a statement, Shiseido said the companies are in talks regarding subsequent joint management of the business aimed at its further growth and development as a shareholder of the company which will operate the transferred business; however, no formal decisions have been made as of yet.
The company was responding to a Bloomberg report stating that Shiseido would transfer its Personal Care business.
Shiseido noted that its Personal Care business has long operated with many brands in low-priced hair care, skincare, and body care, mainly for the mass market such as drug stores and mass retailers.
“However, in order to maximize the potential of the business and further grow the brands in this competitive market, we need to make concentrated investments in product development and advertising, and in order to build the new business model that makes this possible, we are investigating various cases…,” the company added.
Shiseido said it has been promoting its “Prestige First Strategy” and will continue to strengthen efforts in this core business with the aim of becoming a “premium skin beauty company” utilizing digital technology and centered on the Prestige/Premium beauty area. The company aims to be the world’s No. 1 company in this area by 2030.
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