Pola Orbis Holdings Inc. wants to acquire a foreign cosmetics brand that doesn’t overlap with its existing products in terms of price and concept, President Satoshi Suzuki said in a recent interview.
That would leave the Japanese cosmetics maker purchasing a brand with product lineups in the middle price range.
Pola Orbis plans to boost its business in Asia with the aim of doubling overseas sales to ¥50 billion in fiscal 2020 from some ¥23.3 billion in fiscal 2013.
Currently, Pola Orbis has nine cosmetics brands, each with different price ranges and sales channels. Their mainstay products are daily use skin care products.
Suzuki said the company will consider buying a foreign brand in this category and a different price range.
The company “wants to obtain a brand which has sales channels in growing member countries of the Association of Southeast Asian Nations and has a strong identity,” Suzuki said.
He also said the company’s overseas operations will focus on China and ASEAN, where there is a lot of interest in skin care.
The company will strengthen sales of its mainstay high-priced Pola brand at department stores, including those in Thailand and Taiwan, Suzuki said.
For its midpriced Orbis brand, the company wants to open new outlets at department stores and shopping malls mainly in ASEAN countries, he said.