Market and product
Shiseido To Enter Mongolia`s Cosmetics Market In May
TOKYO (Nikkei)--Shiseido Co. said Tuesday that it will begin selling cosmetics in Mongolia in late May to tap the growing popularity of such products in the nation`s cities.
The company plans to market its makeup and skin care products at shopping malls in Ulan Bator through Bishrelt Trade Co., a local firm that imports and sells cosmetics. The products will likely be shipped from Shiseido`s factories in Japan, the U.S. and elsewhere.
The move will expand the firm`s presence to 74 countries and regions.
The market for high-end cosmetics in Mongolia totaled about 80 million yen in 2008, with major U.S. and European firms controlling large shares, according to Shiseido. Although the market is still small, it has been growing by more than 10% a year.
(Source: http://e.nikkei.com/)
