THE WHAT? Shiseido announced that it is transferring its personal care product manufacturing operations to its Kuki factory and Vietnam factory.
THE DETAILS Through this transfer, the company will help Fine Today Shiseido Co establish a management system that integrates manufacturing and sales, to “support the sustainable growth of the company and realize the future development of Kuki’s factories. and Vietnam”.
Shiseido transferred its personal care business to FTS, a company indirectly funded by CVC Capital Partners, last year. Following the transfer, the company contributed to the operation of the business as a shareholder of the 100% parent company of FTS, KK Asian Personal Care Holding, in cooperation with CVC.
Shiseido says, “Since July last year, FTS has got off to a good start as a new company, steadily increasing its business performance.
“In order for FTS to ensure this continued growth, it is important to have a comprehensive management system in place that integrates manufacturing and sales, in which production and supply are carried out in its own factory.”
The transfer of the manufacturing business will take place in the form of a transfer of shares of the Kuki plant after the demerger of the Company, and a transfer of shares of the plant of the Vietnam.
THE WHY ? All new national factories are responsible for manufacturing skin beauty products centered on the prestige and high-end cosmetics business, under its medium and long-term strategy, WIN 2023 and beyond.