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"Rapidly Changing" Greek Economy Impacting Shiseido

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Amid the Greek debt crisis, Shiseido has made changes to its local business in the country. The company announced that it has partnered with Folli-Follie (Athens, Greece) for the importation and sale of Shiseido products in Greece.

Folli-Follie operates a jewelry business, department stores, fragrance agencies and other businesses in the country.

As part of the deal, Shiseido sold Folli-Follie all shares of Shiseido Hellas, which has been renamed Selective Cosmetics Hellas.

Shiseido subsequently finalized a distributor contract for the importation and sale of Shiseido products by Selective Cosmetics Hellas.