Japanese cosmetics giant Shiseido Co Ltd is pouring resources and betting on innovation in China as the 147-year-old firm aims to sharpen its focus in its largest overseas market against the backdrop of a softening global cosmetics industry.
"Developing in China is not merely for growth. As China spearheads the world in innovation, doing business here has contributed and will contribute greatly to our continued growth globally," said Naoko Hase, head of the corporate strategy division at Shiseido China.
"China has become a strong growth driver for Shiseido and continued to be our largest overseas market for a third consecutive year," Hase explained.
