Shiseido Co. is pumping up its e-commerce presence amid a ¡°deep crisis¡± in the beauty business, with the Japanese company looking to its China strategy as a post-pandemic model for growth.
The 148-year-old beauty giant sees its online proportion of overall sales growing to 30 percent in two or three years if current conditions continue, from about a fifth right now, according to Chief Executive Officer Masahiko Uotani.
¡°From a business standpoint, we¡¯ve been trying to come up with solutions to the current situation and use this as an opportunity to go at a faster pace with some reforms,¡± Uotani said in an interview in Tokyo on Tuesday.
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