Plus   Neg

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Polaris Industries Inc. recalled about 15,800 units of Off-Road and Utility Vehicles in North America for possible crash hazard, according to a statement issued by the U.S. Consumer Product Safety Commission. There were also an additional 711 units sold in Canada. AstraZeneca's efforts to supply Covid-19 vaccine doses from its Italian unit to Australia has been blocked by the European Union and the Italian Government, citing Australia being non-vulnerable region and delays in domestic supply, among others. Italy's proposal to deny AstraZeneca's request for authorization to export COVID-19 vaccines was subsequently approved by the European Commission. Chipotle Mexican Grill, Inc. is teaming with e.l.f. Cosmetics to launch a limited edition beauty collection on March 10, aiming to support plant-based lifestyles and responsibly-sourced products. The e.l.f. x Chipotle makeup collection will comprise cruelty-free and vegan products inspired by Chipotle's responsibly-raised food.
Follow RTT