MANILA, Philippines — Japanese personal care and cosmetics firm Shiseido is targeting a double-digit sales growth in the Philippines as its newly launched local unit expands the product line and distribution channels to take advantage of the country’s blooming beauty industry.
Shiseido Philippines Corp. managing Koji Nakata, in a briefing for the launch of the local unit in partnership with LuxAsia Partners Pte. Ltd., said the goal is to achieve double-digit growth in sales in the country.
“Prestige market is quite small...We have high expectation for make-up,” he said when asked for drivers of growth for the company.
While Shiseido has been competing in the prestige market for cosmetics and personal care products through brands NARS and Laura Mercier, as well as fragrances Dolce & Gabbana, Issey Miyake, and Narciso Rodriguez in the country, he said the company is set to launch products for the mass market to tap opportunities in that segment.
In particular, Shiseido will make available the Senka facial cleansers in the country by next month (October).
Nakata said there has been demand for the Senka facial cleansers from Filipinos with consumers making purchases online through individual sellers who travel abroad to be able to bring the product in the country.
“We need to compete in mass market. We can launch by end of next month for our portfolio to be completed,” he said.
Apart from additional product offerings, Shiseido’s local unit also plans to expand its distribution channels.
To date, Shiseido has 27 stores in the country.
Shiseido Asia Pacific president and chief executive officer Jean-Philippe Charrier said in the same event the launch of the local unit in the Philippines is timely amid rising beauty industry.
“This is a very good environment to implement our brand. Consumers are pretty much Westernized compared to rest of Southeast Asia due to historical reasons. They also like Japan,” he said.
As Shiseido is putting great focus on Southeast Asia as a growth market, he said the Philippines would be able to contribute to the company’s goal.
“The Philippines is an important and strategic market for Shiseido in Southeast Asia, and it is an exciting time to be a part of the country’s booming beauty industry. I hope that Shiseido’s entry to the Philippines will enable more Filipinos to have access to a wider range of beauty brands and products – with the uncompromising quality, innovation and spirit of omotenashi, or Japanese hospitality – that only Shiseido can provide,” he said.