JAPAN: The L’Oréal Group signed an agreement whereby Nihon L’Oréal KK, the group’s Japanese subsidiary, will acquire majority shareholding in Shu Uemura Cosmetics Inc., executives said.
Three years after acquiring 35% of Shu Uemura’s Japanese operations, Nihon L’Oréal KK will, this year, increase its share to 52.9% to gain control of the company, according to company executives.
The international rights to the brand outside Japan were already acquired by the L’Oréal Group in November 2000.
In 2003, the turnover of Shu Uemura in Japan should amount to about $86 million, executives said.
Nihon L’Oréal Acquires Shareholding In Shu Uemura Cosmetics
Published November 15, 2005
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