l Shiseido Co. Ltd., Tokyo, Japan, aims to build up 5,000 sales outlets in China and boost sales in the fast-growing market fivefold to 100 billion yen ($894.1 million) by 2008. The company expects China to account for around 10% of its sales by 2008. Faced with slack demand and cut-price competition in Japan, where it still gets 75% of its sales, Shiseido executives said the company is looking to raise its presence in China, which is expected to become the world’s biggest market for cosmetics within two decades. Shiseido already leads the Chinese market for prestige cosmetics, thanks to the success of Aupres, a luxury brand created exclusively for China and made in Beijing.
“Shiseido is placing the rapidly growing Chinese market right at the center of its growth strategy,”