Some interesting news from Tokyo regarding beauty giants Shiseido. The company is expecting no less than double-digit growth from the burgeoning Chinese skin care market. Masaru Miyagawa of Shiseido’s China operations predicts a growth of 15-20%. Chinese people purchasing skin care products consists of around 100 million individuals and Shiseido predict this will grow to 210 million in 2015 and 400 million in 2020.
With growing demand predicted in the Chinese market it’s no surprise that Shiseido and other beauty goliaths like L’Oréal, owner of men’s skin care brands such as Biotherm Homme are targeting expansion there. Shiseido are expecting a $316.6 million profit this year – what recession?