Shiseido to invest in Perfect Corp

Shiseido to invest in Perfect Corp

THE WHAT? Shiseido has announced that it has agreed to buy a minority stake in Perfect Corp. The transaction is expected to close in the third quarter of the year and follows Perfect’s announcement that it will be publicly listed on Nasdaq.

THE DETAILS Financial terms of the deal were not disclosed. Shiseido has partnered with the AI and AR expert in the past on virtual make-up experiences from numerous brands which were powered by Perfect’s technology.

THE WHY? The J-beauty giant said in a statement, “In the medium-to-long-term business strategy WIN 2023 and Beyond, Shiseido has positioned ‘Build a digitally driven business model and organization’ and ‘Accelerate innovation through external collaborations’ as a part of its strategies. With the minority investment in Perfect, we will be able to strengthen our partnership and leverage state-of-the-art technology as well as consider making future collaborations with the company in new categories. This will help us accelerate our digital capabilities to enhance services to our consumers and drive further innovation enabling us to be a global leader in the beauty industry.”