June 29, 2004
By: Kimberly Maher
Website: http://www.1st-in-cosmetics.com
Kao to Commence Kao Sofina Prestige Cosmetics Business in China
Kao Corporation: Takuya Goto, Headquarters: Tokyo, Japan, has announced that it will commence its prestige cosmetics business in China in March 2004. In the first fiscal year, the Company will focus on the establishment of the operating base at approximately 10 stores in Shanghai and neighboring areas.
The Company aims to achieve sales of one billion yen at 50 luxury department stores in large cities by fiscal 2007. The actual business will be conducted through Kao’s wholly owned subsidiary, Kao Holding Co., Ltd.
Kao’s prestige cosmetics business began under the Kao Sofina brand in Japan in 1982, achieving sales of over 75.8 billion yen in the previous fiscal year. The products are also currently marketed and sold in Hong Kong and Taiwan.
With the aim of further expanding the business in the global market, the Company has decided to develop its prestige cosmetics business in mainland China, where the market for prestige cosmetics has entered a full-fledged growth phase.
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About
The Author:
Kimberly Maher is a successful author and regular contributor to http://www.1st-in-cosmetics.com.
Tips on skin care, hair care and beauty products to bring out natural beauty.
