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Shiseido, the Japanese cosmetics giant, published on Friday lower annual results, impacted by China and Japan, its two main markets. The brand expects a fiscal year 2023 just as complicated.
Shiseido, which owns brands such as Ulé, Nars, Shiseido and Serge Lutens, announced results for the year 2022 late last week that are not very exciting.
Shiseido recorded a 5.7% growth in revenues to $8.1 billion for the year ended December 31, while net profit fell 27.1% to $260.6 million (34.2 million yen). Net sales in Japan and China fell 8.2% and 6% year-on-year, respectively, to $1.8 billion and $1.9 billion.
For its 2023 calendar year, the group expects net income of 28 billion yen (about $211 million), down 18.1% from 2022.
This expected underperformance is linked to the impact of higher raw material costs, and more generally to the group’s increased expenses, caused by inflation.
However, the Japanese group says it is “optimistic” about the prospects for recovery in its sector in 2023. The normalization of the economy, the end of restrictions in China and “the transition to a new post-Covid normalcy” in Japan under the impetus of the government, which has notably reopened all borders since last October. All of this has led to a revival of the economy, the market, and also tourism.
Shiseido also wants to continue its strategic investments “in areas such as skincare and digital development” of its business as well as improving its profitability by optimizing its costs.
Accelerating growth
At the end of January, the Bloomberg agency, which specializes in economics and finance, announced that after LVMH and L’Oréal, the Shiseido group was also entering the race to buy the Australian company Aesop. Owned by the Brazilian group Natura, the company could be valued at 2 billion dollars.
The Japanese group has also just launched one of its divisions, NARS Cosmetics in India, through a strategic distribution agreement with the company Global SS Beauty Brands. Its local partner is a subsidiary of India’s Shoppers Stop, a high-end fashion and beauty retailer. It operates eight concept stores and 142 specialty beauty stores.
The launch in India is part of the Japanese group’s strategy to strengthen its brand portfolio and accelerate its growth in Asia-Pacific.
Read also >L’Oréal : record sales in 2022
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Shiseido, the Japanese cosmetics giant, published on Friday lower annual results, impacted by China and Japan, its two main markets. The brand expects a fiscal year 2023 just as complicated.
Shiseido, which owns brands such as Ulé, Nars, Shiseido and Serge Lutens, announced results for the year 2022 late last week that are not very exciting.
Shiseido recorded a 5.7% growth in revenues to $8.1 billion for the year ended December 31, while net profit fell 27.1% to $260.6 million (34.2 million yen). Net sales in Japan and China fell 8.2% and 6% year-on-year, respectively, to $1.8 billion and $1.9 billion.
For its 2023 calendar year, the group expects net income of 28 billion yen (about $211 million), down 18.1% from 2022.
This expected underperformance is linked to the impact of higher raw material costs, and more generally to the group’s increased expenses, caused by inflation.
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Shiseido, the Japanese cosmetics giant, published on Friday lower annual results, impacted by China and Japan, its two main markets. The brand expects a fiscal year 2023 just as complicated.
Shiseido, which owns brands such as Ulé, Nars, Shiseido and Serge Lutens, announced results for the year 2022 late last week that are not very exciting.
Shiseido recorded a 5.7% growth in revenues to $8.1 billion for the year ended December 31, while net profit fell 27.1% to $260.6 million (34.2 million yen). Net sales in Japan and China fell 8.2% and 6% year-on-year, respectively, to $1.8 billion and $1.9 billion.
For its 2023 calendar year, the group expects net income of 28 billion yen (about $211 million), down 18.1% from 2022.
This expected underperformance is linked to the impact of higher raw material costs, and more generally to the group’s increased expenses, caused by inflation.
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