Shiseido Co. is opening a cosmetic specialty store in Shanghai on Friday and setting up a wholly owned holding company there early next year to expand its Chinese operations.
With expanded operations, Shiseido aims to boost its group store sales in China to 100 billion yen by 2008, the top Japanese cosmetics maker said Thursday.
The specialty store in Shanghai, Huan Cai Kong Jian, will serve as the model for its retail operations in China, it said.
Shiseido plans to open five model stores in Beijing and Shanghai this year, followed by nationwide development of Shiseido cosmetic specialty stores through contracts with cosmetic stores and private store owners, among others, starting in 2004.