Beauty Is Betting on Fragrance. Why Isn’t Shiseido?
The Japanese conglomerate has taken a conservative approach to expanding its perfume portfolio against a greater boom where global competitors supercharge their efforts.
In the evolving landscape of the global beauty industry, luxury brands are recalibrating their strategies for the Qixi festival, an ancient Chinese celebration akin to Valentine's Day. Japanese conglomerate Shiseido has adopted a cautious stance in expanding its perfume offerings amidst a surge in investments by global competitors.
Despite posting a profit improvement, the US-based cosmetics giant has not capitalized on this opportunity as aggressively as its counterparts. Meanwhile, Proya Cosmetics is forging partnerships with major retailers to bolster its presence in the United States, where intense competition in its domestic market poses a formidable challenge.
Written by urgent.news from Business of Fashion's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
