01.21.10
At the end of the day, a polished base is the cornerstone of a pretty face. Leslie Blodgett - the founder of Bare Escentuals, soon to be acquired by Shiseido - is capitalizing on this concept with a global mission to target international markets such as Asia, according to recent reports.
The chief executive officer of the mineral makeup giant recently hosted information sessions for Japanese beauty editors. Bare Escentuals is preparing to open its first Japanese retail point in Tokyo’s Isetan department store in March 2010.
As previously reported in Happi, Shiseido offered $1.7 billion to acquire Bare Escentuals. At a recent press conference in Tokyo, Shiseido’s president and CEO Shinzo Maeda noted that when Bare Escentuals’ 2008 sales were added to Shiseido’s ledger, the Japanese company’s sales climbed to nearly $8.2 billion at current exchange rates. Moreover, with the acquisition, the Japanese company’s portion of its sales generated in North America would rise to 14% from 8%, and its reliance on its core home market of Japan would decrease.
“This [acquisition] will actually help us to grow globally,” Maeda said.
During the press conference, Maeda reiterated Shiseido’s long-term target to surpass 1 trillion yen, or nearly $11 billion, in sales, more than half of it generated internationally, by 2017. He said the company would consider other potential acquisitions if it finds an appropriate target, but it doesn’t have anything specific planned at this time.
The chief executive officer of the mineral makeup giant recently hosted information sessions for Japanese beauty editors. Bare Escentuals is preparing to open its first Japanese retail point in Tokyo’s Isetan department store in March 2010.
As previously reported in Happi, Shiseido offered $1.7 billion to acquire Bare Escentuals. At a recent press conference in Tokyo, Shiseido’s president and CEO Shinzo Maeda noted that when Bare Escentuals’ 2008 sales were added to Shiseido’s ledger, the Japanese company’s sales climbed to nearly $8.2 billion at current exchange rates. Moreover, with the acquisition, the Japanese company’s portion of its sales generated in North America would rise to 14% from 8%, and its reliance on its core home market of Japan would decrease.
“This [acquisition] will actually help us to grow globally,” Maeda said.
During the press conference, Maeda reiterated Shiseido’s long-term target to surpass 1 trillion yen, or nearly $11 billion, in sales, more than half of it generated internationally, by 2017. He said the company would consider other potential acquisitions if it finds an appropriate target, but it doesn’t have anything specific planned at this time.