TAGS: Decorative Cosmetic
Shiseido has announced that Shiseido Americas Corporation, has determined to sell the related assets of prestige makeup brands bareMinerals, BUXOM, and Laura Mercier to an entity owned by independent private equity partnership Advent International pursuant to the terms of an Asset Purchase Agreement (the “Agreement”).
New Business Structure
Regarding the transfer of the French business related to the brands and all its employees to Advent, a final decision will be made after completion of the information and consultation processes with employee representatives, in alignment with French labor law.
Under its medium-to-long-term business strategy “WIN 2023 and Beyond,” the Shiseido Group is shifting to a new business structure, with skin beauty positioned as its core category. To that end, the company has launched a fundamental business transformation and aim to become a global leader in skin beauty by 2030.
Optimal Support for Global Growth
As the company is taking steps to prioritize the brands, optimize the portfolio, and strengthen the competitive advantages under this strategy, Shiseido has decided to transfer the business of three of the Company’s makeup brands—bareMinerals and BUXOM, acquired in 2010, and Laura Mercier, acquired in 2016—to an external party. The transfer of the brands’ employees to the new owner along with the businesses is an important consideration and factor in this transaction.
Among the numerous interested contenders, Shiseido has concluded that Advent will provide optimal support for further global growth and success of the brands through marketing investment and a high level of professionalism in business expansions, and have reached an agreement on the transfer.
The company will reinvest the funds obtained from the transfer into areas crucial for its long-term growth, such as development of key brands and acquisitions, mainly in the skin beauty category, digital transformation, and enhancement of production capabilities and innovations. Through these investments, the company will solidify its foundation to ensure business continuity in the new normal during and after the COVID-19 pandemic and achieve growth required for complete recovery by 2023, aiming to “Be a Global Winner with Our Heritage.”
Source: Shiseido