Shiseido forms global strategic partnership with technology company
Japanese beauty brand Shiseido has announced a new three-year global strategic partnership with internet and technology company Tencent.
Through its partnership, Shiseido will work with Tencent to build a direct to consumer model and aims to develop its social commerce to provide new services to consumers globally.
The brand also confirmed plans to strengthen its global growth by accelerating its group-wide digital transformation.
Included in its “WIN 2023 and Beyond” strategy, this focus on digitalisation is one of Shiseido's key goals to help build a digitally driven business model and organisation.
The strategy outlines the beauty brand's targets and is focussed on reviewing Shiseido's business portfolio and strengthening its financial base, while responding to and preparing for current and post-COVID-19 markets.
Founded in 1972, Shiseido merges Eastern and Western philosophies and innovations to create Japanese beauty for women around the world.