Shiseido CEO Masahiko Uotani, left, and A.S. Watson Group Managing Director Dominic Lai in Tokyo in April (Photo courtesy of Shiseido)
HONG KONG, NNA - Japanese cosmetics giant Shiseido Co. and the world’s largest drugstore operator A.S. Watson Group are upgrading their partnership to jointly develop products for global markets.
The companies have been close partners in recent years, co-creating exclusive “urban damage care” products under Shiseido’s “d program” brand for sensitive skin.
In April, Shiseido introduced “d program” at Watsons China, leading to higher-than-expected sales.
The two said in a joint statement Thursday that under the new three-year program, Shiseido and A.S. Watson will co-develop new cosmetic products through exclusive product lines of Za and Senka and other brands.
The companies aim to achieve double-digit percentage growth in sales of Shiseido brand products at Watsons outlets.
A.S. Watson, based in Hong Kong, will also support Shiseido’s reach into China through its 3,600 outlets, and other markets including Indonesia and the Philippines.
A.S. Watson currently operates some 15,000 outlets in 25 countries.