On February 3, 2021, Shiseido announced the sale of its personal care business to CVC. On July 1, Fine Today ShiseidoCo., Ltd., a new joint venture established by the two companies, successfully completed the relevant handovers and officially started operations.
On December 7, 2021, "Fine Today Beautiful Today - Phytis Company Inauguration Press Conference" was held in Shanghai, announcing that Phyllis has inherited the personal care business of the former Shiseido Group, including AQUAIR, Keyouran KUYURA, Huirun SUPERMILD, Sibyl chi Tsubaki, Sanke SENKA, Wuno UNO, Fennon FINO, Marcinne MA CH RIE, which have been favored by Chinese consumers so far. Personal care brands such as Runkelin RICLIN and Hadasui cover hair care, body care, cleansing, skin care and men's fields.
At the event site, inspired by the "DNA" of Phyttex's various brands, a number of interactive scenes were presented in a creative way, and the immersive experience fully reflected that consumers of different ages and needs can meet their different needs in personal care under the care of Phyttice and open their own "beautiful today".
Fine Today Shiseido China CEO and Chairman and General Manager of Shanghai Fitex Cosmetics Co., Ltd. Jiro Yoshida said that the new company Fine Today ShiseidoCo., Ltd was added to the name of Shiseido because it is a joint venture between CVC and Shiseido, which will support the company's growth and development. Phytins will strive to grow into a company that can contribute to the further development of the industry. "In China, our company name is FTS, taken from the initials of Fine Today Shiseido. Although it is a new company, Phytins has developed from the Nearly 150-year-old Shiseido 'Personal Care' department, and since entering the Chinese market in 2003, it has been adhering to the sincerity of hospitality, providing quality products and services, and witnessing the vigorous development of the Chinese market for 18 years. In the new journey in the future, Phytins will also uphold the japanese 'craftsman' spirit, develop DNA with unique products, and continue to provide consumers with high-quality personal care products." ”
After graduating from university in 1985, Mr. Yoshida joined Shiseido Co., Ltd. and worked in the cosmetics sales department and personal care products sales department, and engaged in sales related sales in the Japanese market. In 2001, he participated in the launch of shiseido's overseas sales department's Personal Care Products Business in China, and five years later, he went to Shiseido China and became the head of the Personal Care Products Headquarters, serving as its director. In July 2021, he became CEO of the new company Fine Today Shiseido China and Chairman and General Manager of Shanghai Fitins Cosmetics Co., Ltd.
Jiro Yoshida, who has a great interest in Chinese culture, is now a Chinese expert, and has basically no obstacles in reading Chinese books and communicating with Chinese colleagues. He observed that Phytins' Chinese consumers range from teenage students to new professionals, Shimate white-collar workers, housewives and even middle-aged and elderly people, "I think there are both similarities and differences between Chinese consumers and Japanese consumers. The similarity is that everyone is Asian, and the skin and hair troubles are relatively close. The difference is that Chinese consumers are more curious and want to try more new things, but pay special attention to the safety and efficacy of products. Japanese consumers, on the other hand, will be more inclined to the worldview provided by each brand, and their loyalty to the brand will be higher. ”
At present, in the brands under Phytins, in addition to the water of the secret language, muscle water, run kelin are localized production, the rest is imported, the company said that it has noticed the preference of Chinese consumers for Japanese imports, and will strengthen operations in this area in the future. "It will integrate the meticulous aesthetics from Japan into it, and with advanced scientific and technological support in product research and development, we will have a more demanding pursuit of product safety and efficiency." Jiro Yoshida said.
Previously, Tetsuro Komori, chairman of the board and CEO of Fine Today Shiseido, publicly stated that in the future, he will focus on e-commerce business, expand his share in the Asian market, and ultimately hope to promote the company's independent listing. He also pointed out that he hopes that the company's sales will exceed 150 billion yen and the number of employees will reach 1,000 by 2026.
This was also confirmed by Jiro Yoshida: the number of employees at the new company worldwide (both in Japan and abroad) is currently approximately 700, and it is expected to increase to about 1,000 in the future. "The marketing strategy is to leverage the strengths of each brand and channel to build the best combination. We believe that it is necessary to accelerate the e-commerce business in China in the future, but in the final analysis, the most important thing is to think from the perspective of consumers. Our goal is to build digital communication and e-commerce as the entry point, to provide customers with a good brand experience in various daily life scenarios. As for the listing plan, Jiro Yoshida said that this is The future goal of Phytins, but he also stressed that priority will be given to the development of the personal care business and the implementation of related strategies to further improve the strength of each brand.
"Phytins' operational policy is to effectively leverage the strengths of each brand, build a healthy and balanced brand investment structure, and provide a unique product experience for consumers across Asia, while achieving profit growth." The Chinese market is a market that Phytins attaches great importance to, Jiro Yoshida said, "In the Chinese market, we will continue to actively invest in the brand and promote the overall career development, the current sales in the Chinese market are slightly lower than the Japanese market, but in 2026, the share of the Chinese market will surpass the Japanese mainland and become the largest market for our company." ”
Like many multi-brand groups, although Phytins currently owns a large number of brands, the company does not rule out considering acquiring new brands in the future. "Based on the development strategies of the company and each brand, we will launch new products in appropriate regions throughout Asia at the right time. On the other hand, in order to build long-term relationships with existing customers, we will continue to polish the core products of each brand through continuous progress and technological innovation. Of course, with the changes in market trends and the company's development strategy in the future, acquiring new brands to expand the group's brand matrix is also one of the options. Jiro Yoshida said, "In the future, Phytins will be closer to the needs of Chinese consumers, whether in product research and development, or in communication and interaction with consumers, it will not be limited to existing experience, we will seek breakthroughs in continuous innovation to create greater brand value." ”