Shiseido Group positions UK market as key growth driver

The U.K. division of Shiseido has grand, sweeping plans to double its U.K. sales and leapfrog into the region’s top five largest beauty companies by 2025.

That ambition is not far-flung. Shiseido’s U.K. business’s retail sales grew nearly 21% in 2023, with skin-care sales growing by 55%, makeup sales by more than 10% and fragrance sales seeing an 11% boost, according to Charles de Montalivet, Shiseido Group’s U.K. managing director. Shiseido sells 11 brands in the U.K., led by Nars, Drunk Elephant and the Shiseido brand.

According to Shiseido’s year-end earnings results published in February, Drunk Elephant saw a 77% year-over-year increase in its 2023 global sales. Nars also a 14% year-over-year global sales growth, while Clé de Peau saw a 2% increase. Across the Europe, Middle East and Africa segments, Shiseido is projecting 2024 sales for its skin-care, makeup and fragrance divisions to see a 13% growth on a like-for-like basis, with Drunk Elephant and fragrance expected to outperform the industry.

Continue reading this article on glossy.co. Sign up for Glossy newsletters to get the latest on the business of beauty, fashion and pop culture.