Women’s Wear Daily
04.21.2014
fashion-features
fashion-features

Kanebo Cosmetics Eyes Overseas Growth

Tokyo-based Kanebo Cosmetics Inc., whose acquisition by Kao Corp. was officially completed this week, is eyeing China, Europe and the U.S. as growth markets.

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"In the past 12 months, Kanebo [Cosmetics] has outperformed its business plan in terms of sales and profits," said Yogo, who noted Kanebo Cosmetics has 25 "focused" brands, a number that's down from 60 brands in recent years. "We decided to focus on 20 brands and introduce new brands where we [were lacking]," said Yogo.

As a result of Kao Corp.'s $2.27 billion acquisition of Kanebo Cosmetics, Kao is expected to grab an 18.7 percent share of the domestic Japanese market, which weighed in at $8.85 billion in 2004, with the exception of toiletries.

Shiseido held the largest share of cosmetics in Japan, with a 24.3 percent share, Yogo noted. The third-largest brand was Kose Corp., with 12.1 percent of the market.

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