Breaking News

Kanebo and Kao are a No-Go

November 15, 2005

JAPAN: Now that the proposed sale of its cosmetics division to Kao is kaput, Kanebo has received at least $4.7 million in assistance from the Industrial Revitalization Corp. of Japan (IRCJ) to restructure operations and bolster its sundries, health care and food businesses. Reports suggest Kanebo will put its cosmetics operations back on the selling block by early May. The IRCJ will then provide capital to this firm and solicit capital from investment funds. Kanebo has also secured a $455 million loan from Sumitomo Mitsui Bank.
In other news, Kanebo launched its Sofina brand in stores in Shanghai, China. Kanebo hopes to expand to 10 neighboring department stores by year end, and 50 by 2007.
blog comments powered by Disqus
  • Free and Clear

    Free and Clear

    Melissa Meisel, Associate Editor||October 17, 2016
    OY-L aims for zero-chemical skin care.

  • Coming Clean on a Host of Issues

    October 17, 2016
    Cleaning Products Conference is set for Nov. 9-11, 2016 in Washington DC.

  • Let the Magic Begin!

    Let the Magic Begin!

    Tom Branna, Editorial Director||October 10, 2016
    IFSCC Congress gets underway at Walt Disney World this month.

  • Proof Positive

    Proof Positive

    Christine Esposito, Associate Editor||October 3, 2016
    Testing service providers enable companies to back up their claims and stay in compliance with regulations.

  • Change Is in the Air

    Change Is in the Air

    Doreen Wang, BrandZ ||October 3, 2016
    Technology is changing the personal care market

  • Skin Care of One’s Own

    Skin Care of One’s Own

    Christine Esposito, Associate Editor||October 3, 2016
    Nu Skin’s ageLOC Me—which melds the worlds of smart-phone technology, efficacious ingredients and personalization