"From now, Shiseido will aim to become a global player that is representative of Asia — with its origins in Japan," the firm stated. Efforts will focus on improving quality across the board from fiscal 2008, which began April 1, to 2010 and getting into a growth trajectory from fiscal 2011 to 2013.
The firm expects to report full-year results later this month.
With the three-year plan, the group will focus on building the brand's global following, improving management operations and strengthening ties between Shiseido's worldwide affiliates.
"In addition to balancing the expansion of growth potential and raising profitability carried over from [a recent] three-year plan," the firm stated, "Shiseido will seek to realize...objectives in line with the key focal points of 'globalization,' 'distinction and concentration' and 'utilizing external knowledge and resources.'"
Regarding its focus on its signature brand, the firm stated, "to be able to fully exert the strengths of the Shiseido brand, [the company] will renew its product portfolio." It added, "As for specific marketing methods, Shiseido will work on building business models for the future to ensure sustainable growth and expand market share in emerging markets besides China and Russia."
Shiseido plans to develop so-called mega lines in Asia to expand market share there — and as a first step in the development of masstige marketing. Full-scale rollouts of masstige products are slated to begin during fiscal 2011 to fiscal 2013.
Products for the masstige market will be produced at a new manufacturing subsidiary, Shiseido Vietnam Inc., the firm noted. Construction of the factory is scheduled to be finished in October 2009, with operations beginning in December 2009.
Shiseido also is maintaining a 20 percent growth plan for its business in China. Efforts there include further development of its Aupres brand, which was introduced exclusively for the Chinese market about 14 years ago. The firm also plans to expand its cosmetics specialty store business in China.
In its home market of Japan, sales targets for account executives will be discontinued and more emphasis will be placed on customer service processes.