The company says it officially started sales of prestige fragrances and skin care products in the Central American republic of Panama and The Central European Republic of Moldova last month.
Shiseido is already well established in Latin America and the company says it will be pursuing its established and already successful strategy to target premium consumers from new and emerging markets.
Fist steps into Central and Eastern Europe
In contrast to the company’s position in Latin America, Shiseido has still to make significant inroads into the Central and Eastern European markets, making the initiative in Moldova amongst its first.
The latest initiatives bring Shiseido’s total number of worldwide market up to 83 countries and regions, and also marks the first entry of a Japanese premium cosmetics manufacturer in both countries.
Shiseido’s entry into Panama represents its fourth country in Latin America, after Brazil Mexico and Colombia. The import and distribution of its products will be handled by the Wisa Group, which is based in Panama.
Fast evolving market for prestige in Moldova
The move into Moldova targets a market that is fast evolving for prestige cosmetics, and is in line with a number of other European and American players who have recently moved in on the market.
Import and distribution of the products will be handled by the company’s European subsidiary, Shiseido Europe SAS, and distribution will commence through three cosmetics specialty stores focused on prestige cosmetics.
Under its roadmap up until 2017, Shiseido claims it is currently promoting various initiatives with the aim of becoming “a global player representing Asia with its origins in Japan.”
Plans to make domestic success global
This plan targets key brands, specifically the Clé de Peau Beauté brand, as well as new markets worldwide.
This year the company has announced new distribution agreements in an array of developing markets, including Albania, Kosovo, Macedonia, Mongolia, Georgia and South Africa.
Shiseido has continued to struggle in its native Japan in the light of a prolonged economic downturn in the country and changing consumer patterns spending patterns.