New Shiseido Travel Retail division set ¥18.5 billion target for FY2016
Shiseido is set to create a new travel retail unit, based in Singapore, on 1 May, combining the skin care, make-up and fragrances arms of the Japanese beauty house’s worldwide travel retail business, according to a report published by Travel Retail Business.
Shiseido Travel Retail has been set a sales target of ¥18.5 billion for the financial year, a considerable jump on the ¥17.2 billion achieved in 2015.
The new unit will usher in a key account management system, with dedicated regional teams allocated to key customers as well as a new business development function to explore global growth opportunities.
The new unit is part of the company’s wider 2020 strategy, which will see the company usher in a matrix management structure with six regional entities led by Philippe Lesné.