JAPAN: Shiseido will rely on global business, with an emphasis on China, as its next growth engine, according to Morio Ikeda, president and chief executive officer. According to Mr. Ikeda, the company plans to generate 40% of its global sales from overseas markets in the future, compared with the current 25% ratio. “We don’t have a specific time schedule to achieve this goal, but the year 2004 is the year of the challenge to become more global,” Mr. Ikeda stated.
The company projected 30% growth in China, to $917.4 million. Shiseido launched its Aupres makeup line in China in January. Advertising on TV in the Shanghai and Beijing markets features actress Zhao Wei as the spokesmodel.
Shiseido executives said the company hopes to generate $272.7 million a year in Chinese Aupres sales.