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Kanebo eyes China for growth in sales
By Joyce Pan |
July 31, 2009, Friday
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Print Edition
Print Edition
JAPAN'S Kanebo Cosmetics Inc, which will launch several brands in China, expects a turnover of 600 million yuan (US$88 million) in the country before 2010 due to a fast growing domestic cosmetics market amid sluggish demand in its home base.
The second-largest cosmetics manufacturer in Japan said it will launch skincare brand Aqua Sprina and make-up line Coffret D'or in September in addition to its dermo-cosmetics brand Freeplus as well as Impress and Lunasol in the high-end segment.
Kanebo, which operates a total of 680 outlets in department stores in China, expects to sell 300 million yuan worth of Aqua Sprina, the upgraded version of Aqua, this year.
Kanebo, owned by Japan's top household products maker Kao Corp, faces weakening demand in its home market as a result of the global financial crisis. It also faces increasingly fierce competition from Shiseido and Kose in Japan.
Meanwhile, sales in the cosmetics industry in China surged to 1.5 trillion yen in 2008, according to the Japan's Ministry of Economy, Trade and Industry.
Kanebo, which sold 40 percent more beauty products last year, will increase investment in China this year.
The firm said its sole manufacturing facility in China will boost production by 150 percent to 5 million units.
The second-largest cosmetics manufacturer in Japan said it will launch skincare brand Aqua Sprina and make-up line Coffret D'or in September in addition to its dermo-cosmetics brand Freeplus as well as Impress and Lunasol in the high-end segment.
Kanebo, which operates a total of 680 outlets in department stores in China, expects to sell 300 million yuan worth of Aqua Sprina, the upgraded version of Aqua, this year.
Kanebo, owned by Japan's top household products maker Kao Corp, faces weakening demand in its home market as a result of the global financial crisis. It also faces increasingly fierce competition from Shiseido and Kose in Japan.
Meanwhile, sales in the cosmetics industry in China surged to 1.5 trillion yen in 2008, according to the Japan's Ministry of Economy, Trade and Industry.
Kanebo, which sold 40 percent more beauty products last year, will increase investment in China this year.
The firm said its sole manufacturing facility in China will boost production by 150 percent to 5 million units.
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