(The 4th CIIE) Interview｜Shiseido China CEO: The best era in China's beauty market has just begun
China News Agency, Shanghai, November 8th (Reporter Pang Wuji) As the first international beauty group to enter the Chinese market, Shiseido Group has been rooted in China for 40 years.
China is not only the world's largest overseas market of Shiseido Group, but also the world's second headquarters of the group.
For decades, the considerable potential of the Chinese market has attracted major international beauty groups to expand their markets in China.
In the face of increasingly fierce competition, Shiseido China CEO Kentaro Fujiwara believes: "The best era in China's beauty market has just begun."
The "best times" referred to by Kentaro Fujiwara originated from China's consumption upgrade.
During the 4th China International Import Expo, Kentaro Fujiwara said that Chinese consumers are getting smarter and their requirements for beauty are becoming more and more diversified. These will provide huge business opportunities for companies in the consumer sector.
In China, new products, new categories, and new technologies are constantly emerging in major markets including beauty. China has a huge consumer group, and any market segment has enough target consumers and is willing to actively try new things. .
In order to seize this opportunity, Kentaro Fujiwara pointed out that Shiseido will increase its local R&D activities. The latest move is that Shiseido’s third R&D center invested in China, Oriental Migu, is officially on the 10-day countdown to the opening of the CIIE this year. Put into use.
Kentaro Fujiwara said that in fields such as digital applications, China has a market environment suitable for the incubation of new technologies and innovations. At present, China has the conditions to export innovations to other markets.
He said that most of the group's strategic new technologies, new brands, and new products will choose the Chinese market as their overseas launches.
As an important window for international exchanges, the CIIE is an excellent platform to showcase new technologies and R&D achievements.
At the CIIE, Shiseido exhibited dozens of new products, including the overseas debut of the hard-core beauty black technology "Daily Muscle" outside of Japan; the world premiere of the oral beauty brand Yiliu; high-end skin care brand Drunk Elephant's offline debut in Mainland China; world premiere of sunscreen product "Pink Fatty", etc.
Regarding the rise of domestic beauty brands in recent years, Kentaro Fujiwara told a reporter from China News Agency that he was not worried about direct competition.
From the perspective of the entire market, Shiseido and other beauty brands have in fact expanded the market together through healthy competition.
"Giving consumers more choices is a healthy development model in itself." (End)