Shiseido sales fall amid mixed brand performance
Shiseido reported a 3% decline in net sales to ¥232 billion for the first quarter of 2026, as it warned of potential price increases amid ongoing geopolitical tensions and restructuring efforts.
The owner of Drunk Elephant and NARS said weaker performance was partly linked to continued tensions between Japan and China.
Overall sales were also affected by timing shifts across several brands and inventory adjustments. Despite the decline in revenue, operating profit rose 58% year-on-year to ¥13 billion.
Shiseido added that it continues to monitor the impact of conflict in the Middle East, citing potential risks related to raw material costs, logistics cost pressures and supply chain disruptions, including possible production delays.
By brand, performance included:
- Shiseido sales down 4%.
- Clé de Peau down 2%.
- NARS up 7%.
- Elixir up 4%.
- Anessa down 17%.
- Dr. Dennis Gross down 6%.
- Drunk Elephant up 1%.
The update accompanied the company’s announcement that it plans to streamline its global production network, including the closure of the Hsinchu factory operated by its subsidiary, Taiwan Shiseido.
The company said it is also assessing opportunities for selective price increases.
In the EMEA region, net sales declined amid challenging comparisons with the previous year, although Shiseido expects performance to improve in the second half of 2026.
