February 16, 2021
Shiseido unveils strategy for recovery by 2023
THE WHAT? Shiseido has developed a new medium- to long-term strategy, named WIN 2023 and Beyond, which summarizes its basic strategy for the three years up until 2023 and its vision through 2030 and beyond.
THE DETAILS The J-beauty manufacturer will carry out a fundamental business transformation with Skin Beauty as its core business and aims to become the world-leader in this field by 2030, as well as transitioning to become a ‘personal beauty wellness company’.
In view of the current uncertainty, Shiseido will shift its focus from business growth via sales expansion to profitability and cash flow for the next three years, designating 2021 as a time to focus on structural reform; 2022 to get growth back on track and 2023 marked as the year the firm will make a full recovery, with sales hitting ¥1 trillion and operating profit margin coming in at 15 percent.
THE WHY? The J-beauty is hoping to recover from the blow dealt to it by the pandemic by harnessing the booming skin care and wellness movements.
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