Photo/Han Yang (NBD)
We are full of confidence in the huge potential in China and are even more committed to our long-term investment in the market, said Shiseido Group CEO Masahiko Uotani, calling China a key growth engine of the companys growth.
The company will continue to invest in building its second-largest research and development center in the country to cater to the demands of its largest overseas market, according to its new growth plan released Tuesday at a reception marking the companys -th anniversary.
To accelerate its green growth and support Chinas circular economy, the company plans to have over – refillable products on the Chinese market by 2023, the statement said.
Global cosmetics giant Shiseido Group will enhance investment to boost its innovation capabilities in China, the company said in a statement.
The company will see more investment in local innovation in China, bolstered by the establishment of an innovation fund worth up to 1 billion yuan (about 142.12 million U.S. dollars).