Shiseido's net sales FY 2014-2023

Shiseido Company, Limited, a leading Japanese beauty products manufacturer, experienced a decline in net sales to 973 billion yen in fiscal year 2023. This marked the first time since 2020 that the company's performance dropped below one trillion yen, as the company faced challenges in marketing its brands in its core overseas market, China, following political tension. Despite this setback, Shiseido Company maintained its position as the leading Japanese cosmetics company with a diverse portfolio of brands spanning fragrance and skincare.

Shiseido’s position in luxury cosmetics

Shiseido Company operates mainly in the prestige beauty and fragrance markets worldwide, which represents the largest product group. However, the company also owns premium brands like Elixir, Anessa, and Haku, with Japan and China being the primary target markets for these products. Furthermore, in 2021, Shiseido announced the sales of its personal care business to focus on the cosmetics segment. FineToday, a former subsidiary of Shiseido, took over the manufacturing and sales of related brands in the domestic market after splitting off from the cosmetic group.

The face of Japanese prestige cosmetics overseas

While Shiseido faced challenges in its overseas business, the company remained a globally renowned beauty products manufacturer in the prestige segment. Through its reach and its innovative skincare products, the Shiseido brand helped define the image of Japanese cosmetics overseas. Apart from a selection of brand stores, the luxury cosmetic company sells its prestige products exclusively through partnered beauty specialists and department stores, as well as official online channels, further raising the prestige image of its brands.