TOKYO — Shiseido Co. Ltd. announced a strong increase in profits, thanks to its business in China, during the nine months ended Dec. 31.
The Japanese beauty giant reported its net earnings in the period rose 29.3 percent to 26.2 billion yen, or $223.7 million at average exchange rates. Operating profits came in at 50.3 billion yen, or $429.6 million, a 23.3 percent gain, thanks to marginal increases from overseas sales expansion, an improved cost-to-sales ratio stemming from a change in product mix and a decline in domestic market expenses.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"