Cosmetics giant Shiseido Co. said Thursday that it has concluded a business tie-up agreement with A.S. Watson Group, the Hong Kong-based operator of a major drug store chain.
Shiseido aims to strengthen sales of its products in the middle price range through A.S. Watson’s extensive network of some 15,000 stores, mainly in China and other parts of Asia. Shiseido specifically hopes to increase sales in markets such as Indonesia and the Philippines, whose economies are booming.
The two companies will also jointly develop products from Shiseido’s Za and Senka mid-price cosmetics brands. They have already been working to co-develop sensitive skin care items under the d program brand.
In April, Shiseido announced a business tie-up with Chinese e-commerce behemoth Alibaba Group Holding Ltd. as part of its moves to expand its marketing network in Asia.