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In December, Shiseido shut down the metaverse and web3 projects housed under its emerging technology and platforms division, according to a source recently employed by the company.
The move follows a series of strategic changes within Shiseido, including the elimination of leadership roles at its brands including Clé de Peau. These adjustments were revealed in the months following the release of its third-quarter 2024 results in November. Compared to the year prior, Shiseido’s consolidated net sales fell by 8%, and its operating profit decreased by approximately $69.6 million. The company revised its full-year core operating profit forecast to $259.3 million, down from $407.4 million projected in November.
Shiseido’s web3 and metaverse projects included virtual beauty experiences, NFTs and metaverse collaborations. It partnered with the decentralized world-building platform Decentraland in 2022 and launched digital collectibles tied to its brands including Clé de Peau Beauté in 2021. In 2023, Shiseido released an NFT collection for its luxury skin-care brand Anessa aiming to engage younger consumers. Additionally, Shiseido’s AI with Beauty campaign, launched in 2023, included NFTs that combined AI-generated art and beauty. In 2022, Shiseido-owned NARS joined the NFT trend, releasing NFTs providing exclusive access to limited-edition products and experiences.
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