Shiseido started restructuring its business early last year. In February 2021, the Japanese giant sold off its personal care business in Japan to private equity major, CVC Capital Partners, for US$1.5 billion.

Six months later, the multinational sold its North American portfolio – bareMinerals, Buxom and Laura Mercier – to AI Beauty, backed by private equity firm Advent International, in another agreement worth US$1.5 billion.

The Dolce & Gabbana license was also culled after five years.

Leading brands that remain in Shiseido stable include the core Shiseido brand, Cle de Peau, NARS, several fragrance licenses such as Issey Miyake and Tory Burch, and Drunk Elephant, acquired in 2019 for US$845 million.

In spite of all the sell-offs, Shiseido also announced it would be on the hunt for more acquisitions in the US and Europe as part of its WIN 2023 and Beyond strategy. The plan is to limit its dependence on China, which accounts for 30 per cent of Shiseido’s total business.

Shiseido is also aiming to become the world’s largest skincare company by 2030. To fuel the initiative, the company has acquired UK-based microbiome skincare brand, Gallinée.

Founded in 2014 by Marie Drago, a specialist in microbiome research, Gallinee’s formulas contain a patented complex of prebiotics, probiotics and postbiotics to strengthen the skin’s protective microbiome.

Gallinee’s range of 17 skincare, body care, haircare and supplements is mainly sold in the UK and France at present.

Marie Drago will join Shiseido’s EMEA (Europe, Middle East and Africa) team and will remain Gallinée’s Chief Creative Officer.

The acquisition of Gallinée exemplifies Shiseido’s commitment to the skin beauty category, helping us to realise our mission to integrate skin beauty and inner beauty, as we continue to position ourselves to “Be a Global Winner”, noted a Shiseido spokesperson.

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