Travel retail boosts Shiseido sales and profits
Japanese beauty giant Shiseido Group has revealed strong sales revenue boosted by travel retail in its mid-year results.
Shiseido sales reached ¥532.6 billion (US$4.8 billion), with ¥47.66 billion ($430.56 million) net income attributable to the business owners, 153.5 per cent above figures for the same period last year.
A major influence on the group’s performance this year has been the 40.3 per cent increase in sales across the firm’s travel retail business.
“In the travel retail business, the benefits derived from active investment in marketing, which included further increase of advertising and promotion in airports around the world, led to continued growth in sales of Shiseido, Cle de Peau Beaute, Nars, and Anessa that far outperformed last year, mainly in Asia,” the company reported.
The company’s sales performance during this period has encouraged management to expect to achieve its “Vision 2020” goal of ¥100 billion ($904 million) in operating income and an operating margin of 10 per cent two years ahead of schedule.