PARIS — Shiseido Co. Ltd. has named Kentaro Fujiwara its president of China, which is considered the company’s overseas market with the most potential.
In the role, which was effective Jan. 1, the executive oversees all of the Japanese beauty giant’s activities in China, including Shiseido China Co. Ltd., Shiseido Liyuan Cosmetics Co. Ltd. and Shiseido Hong Kong Ltd. Fujiwara is also charged with strengthening the cooperation between Shiseido’s innovation center in charge of research and development and the company’s factory for the Chinese market.
“In 2017, led by Mr. Fujiwara, Shiseido China will continue to be the forerunner in the Chinese cosmetics market,” the company said.
Fujiwara was appointed president of Shiseido China Co. Ltd. in November 2015. In the role, the company credited him with actively promoting business restructuring and enabling Shiseido to regain competitive advantages in the nation’s fast-developing cosmetics market.
By the third quarter of the company’s fiscal year 2016, Shiseido’s total revenues in the country had reached 88.5 billion yen, or $864.8 million at average exchange for the three-month period ended Sept. 30, 2016. That represents a 16.7 percent gain in local currency versus the same prior-year period.
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Fujiwara, who joined Shiseido in 1991, has also held positions in the company’s offices in Paris and Dusseldorf, Germany. He served, as well, as president of Shiseido Korea and general manager of the company’s corporate strategy department.
As part of Shiseido’s mid-to-long-term plan called Vision 2020, which was created by company president and chief executive officer Masahiko Uotani, China is the overseas market considered to have the most potential. The company plans to reach sales of 200 billion yen, or $1.75 billion at current exchange, there in three years time.
“Although there has been a certain slowing down in the Chinese consumer goods segment, the large scale of the Chinese market still harbors huge potential,” said Fujiwara in the statement.