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Shiseido Expands Sales to Panama, Moldova
Posted: December 13, 2010
Starting in January 2011, Shiseido will commence sales of its global brand prestige skin care and makeup lines in Panama, deploying a prestige marketing strategy centered on Europe and the Americas. Additionally, Shiseido also has begun marketing products in November 2010 in Moldova.
With this endeavor, Shiseido overseas cosmetics sales will encompass 83 countries and regions, including Japan, throughout the world. This will also represent the first market entry of a Japanese premium cosmetics manufacturer in both countries.
Shiseido is currently promoting various initiatives in seeking to become a global player representing Asia with its origins in Japan. Among its overseas business, Shiseido is focusing on expansion of operations in new markets and strengthening of operating bases in existing markets as key thrusts. In fiscal 2010, Shiseido is actively promoting inroads in three Balkan peninsula countries, beginning with Albania and followed by Kosovo and Macedonia, as well as other countries such as Mongolia, Georgia, South Africa and Colombia.
Panama will be the fourth country for Shiseido to promote development of its cosmetics products in the Latin American market subsequent to Brazil, Mexico and Colombia. In Panama, there is an increasing expectation for rising demand for prestige cosmetics products due to stable economic growth since 2004, excluding the impact of the global economic crisis in 2009. Product imports and sales will be handled by the WISA Group, a Colombian distributor. In the first year, sales will be launched in five selected stores with a proven performance in counseling sales for prestige cosmetic products. These comprise local cosmetics specialty stores managed by the WISA Group and independent cosmetics specialty stores.
As to Moldova, as one of the newly independent states, it is transitioning to a market economy. Interest in and demand for prestige cosmetics products is increasing there; therefore, luxury cosmetics companies from Europe and the United States have begun to make inroads into these markets. Product imports and sales are being handled from mid-November by Shiseido’s subsidiary, Shiseido Europe S.A.S., whereby sales of Shiseido products have begun in three cosmetics specialty stores which handle prestige cosmetics products.