Shiseido establishes joint venture in Turkey

Shiseido Co Ltd has established Shiseido Kozmetik Anonim Şirketi as a joint venture with major Turkish cosmetics import and sales distributor Vesco Kosmetik Ürünleri Paz.

Operations of the new company will commence from January. With Shiseido possessing a majority equity stake in the joint venture, the company will become a consolidated subsidiary of Shiseido and global brand SHISEIDO prestige cosmetics products commonly developed worldwide by Shiseido will be sold.

Shiseido is currently promoting a 10-year roadmap established in 2008 with the aim of becoming a “global player representing Asia with its origins in Japan” by 2017. The overseas sales ratio for the previous term (fiscal year ended March 2011) increased to 42.9% and the number of countries and regions in which Shiseido operates its global business is expanding to 87 countries and regions, including Japan.

Shiseido entered the Turkish market in 1998 through an agreement with Vesco, a distributor that the company has formed a partnership at this time.

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