TOKYO — Shiseido will establish a Shiseido Group sales company in Switzerland this month by acquiring 100 percent of the shares of the current distributor, which is handling import and sales of Shiseido Group products in the country. The new company, Shiseido SA, will be located in Geneva. Shares in the company will be acquired by Shiseido International Europe SA of Paris. Shiseido first began selling its own brand of cosmetics in Switzerland in 1990 and introduced non-Shiseido fragrance and skin care products in 2000.
This story first appeared in the January 4, 2010 issue of WWD. Subscribe Today.
Also this month, Shiseido will begin operations of wholly owned subsidiary Shiseido Cosmetics Vietnam Co. Ltd.
The Japanese beauty giant also entered Africa in May for the first time and began selling Shiseido products in duty free shops in Cairo Airport in Egypt.
In August, it began selling in Morocco and Laos. In October, Shiseido signed a contract to establish Shiseido Hellas SA in Greece as a joint venture between Shiseido International Europe and a leading Greek cosmetics import and sales company. In December, it entered Azerbaijan in Central Asia.