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Why Japanese Beauty Giants Are Buying Up Global Brands

M&A is gathering pace in Japan’s beauty industry as local conglomerates look to diversify their portfolios beyond Asia and target high-growth categories overseas.

Model Hikari Mori and comedian Yuriyan Retriever attend Shiseido's brand ambassador announcement event in January 2023 in Tokyo, Japan. (Getty Images)

Zoe Suen

31 October 2023

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Though sun care is a mature industry in Japan, the category hasn’t performed all too well in recent years. According to Mintel, the country’s market for sunscreens, self-tanners and after sun products decreased in value by 12.7 percent in 2022, compared to a surge in other markets, such as the UK, which registered 20.4 percent growth.

Japanese Beauty Giant Kao Corporation to Acquire Australia’s Bondi Sands

The Tokyo-based group behind brands such as John Frieda, Jergens and Bioré and the Melbourne company known for its sunscreen and self-tanning products did not disclose terms of the deal.

Bringing Shiseido Back to Life

Japanese beauty giant Shiseido is facing competition from younger, buzzier J-Beauty rivals and trying to modernise its approach.

About the author

Zoe Suen

Zoe Suen is a contributing writer at The Business of Fashion. Suen is a freelance writer, editor, and consultant who writes about luxury fashion and beauty.

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