THE WHAT? Shiseido has pledged some US$140 million in order to boost its innovation capabilities in China, according to a report published by Xinhua.
THE DETAILS The J-beauty giant unveiled its latest growth plan last week, which includes launching more than 150 refillable products onto the Chinese market by 2023 to support the circular economy and setting up an innovation find, as well as continuing to invest in its second-largest R&D center, currently under construction.
THE WHY? Shiseido CEO Masahiko Uotani told the press at a reception marking the company’s 150th anniversary, per Xinhua, “We are full of confidence in the huge potential in China and are even more committed to our long-term investment in the market.”