Giant Shiseido wants to slice the beauty market cake in a more “economical” form.
Shiseido, an Asian beauty company, has a market value of $ 28.672 billion (January 17). It has a total of 40 sub-brands in the high-end, public, perfume and personal care fields. According to Shiseido’s third quarter financial report, Shiseido’s China market has a comparable growth rate of 13.8%, of which Mainland China has grown by 22%, and high-end brands (including Shiseido, Skin Key (CPB), NARS, IPSA, etc.) have grown by 40%. the above. Since 2016, Shiseido ’s business in China has maintained double-digit growth. By 2017, China has become Shiseido ’s largest market .
Recently, Shiseido announced the opening of the Shiseido Beauty Innovation Hub at WeWork’s Shanghai Weihai Road office space, encouraging more professionals in the beauty industry to “co-create” and opening up to the industry Space, The Shiseido China Business Innovation Investment Office team, which was established in early 2019, has officially settled in the office. The center from Shiseido The China Business Innovation Investment Office team is directly managed. will serve Shiseido’s internal and external innovation attempts.
Exclusive Dialogue Zhou Taosheng, chief of Shiseido’s China Business Innovation Investment Office, discusses the original intention and long-term plans for the future of the Shiseido Zhimei Innovation Center under the boom of the Chinese beauty market.
Facing China’s beauty market: Leveraging power
In developing the Chinese market, the idea of the Shiseido Zhimei Innovation Center is: Chinese innovators are the people who are most familiar with the needs of the Chinese market, because they see unmet needs or innovations from consumers Innovating with them, they can bring Shiseido more product innovation power that adapts to changes in market demand, and further increase consumer reach from multiple channels. For Shiseido, these two points are undoubtedly multinational companies. An important need for local innovation.
The past 2019 has been a year of “changing conditions” in the Chinese beauty market. The perfect beauty diary, orange blossom and other domestic beauty spleen are undoubtedly the protagonists in the beauty market, and the war in 2019 is not just about Limited to the beauty track, domestic skin care products are also ushering in a high-end, customized “new rise”: Cosmetics brands endorsed by hospitals and academic R & D centers