Shiseido is aiming to reach 15% operating margin by 2023 and become the global leader in skincare by 2030. To get there, the company is divesting of some lower-priced brands.
TOKYO: The chief executive of Japanese cosmetics giant Shiseido Co believes inbound tourism will return next year as the pandemic abates, beginning a gradual recovery in sales of high-end goods to travellers.
A halt in tourism amid the COVID-19 pandemic has cut off sales to Chinese visitors, a critical segment in years past. China may start to ease travel curbs after hosting the Winter Games in Beijing, and a reciprocal opening in Japan would start a "welcome back" of tourist shoppers, Chief Executive Masahiko Uotani said.
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