Beauty

Shiseido Group focuses on innovation and traceability

By Eva Morletto11 juillet 2023

Europe, Africa, and the Middle East will be the new playgrounds chosen by Shiseido to launch the Fibona program, which has already been successfully tested in Asia, including China, Japan, and South Korea. The program involves forging partnerships with start-ups specialized in innovation strategies.

Start-ups working with Shiseido will help the group find effective solutions to improve the product traceability process (Shutterstock)

The program was launched four years ago thanks to Shiseido's European Innovation Center. The center is based in France, in the high-end perfume and cosmetics industry cluster established in 1994 in Ormes. Shiseido's approach to innovative strategies is designed to be 360° and not limited to research into the performance of aesthetic products. Today, for example, the start-ups working with Shiseido will help the group find practical solutions to improve the product traceability process. Seven companies took part in a competition launched by the company. In the Shiseido galaxy, the brand that will benefit most from the skills of start-ups will be Ulé, a new clean beauty brand much appreciated by young customers thanks to its eco-compatible approach, launched barely a year ago.

Among the companies that managed to win the competition was the blockchain consortium Arianee, which offers interactive solutions between consumers and the brand to provide as much information as possible on manufacturing processes. Another company, Provenance, relies on artificial intelligence to provide customers with concrete examples of the ecological approach chosen by brands.

Last September, Shiseido brought together beauty experts from all over the world for a Beauty Summit in Venice on the bangs of the Mostra film festival: an extraordinary gathering to celebrate the brand's 150th anniversary and the success of its scientific research. The group continues to build on this momentum, and new projects developed with start-ups will be officially launched this autumn. In this way, Shiseido aims to win further market share and emancipate itself from its two main markets in Asia - China and Japan - which have been penalized in recent years by the impact of the health crisis. Diversification had already begun with the acquisition of the Gallinée and Drunk Elephant brands.

2022 Shiseido sales increased by 5.7%, reaching 7.5 billion euros. Shiseido doubled its profit in the first quarter of 2023 (59 million euros), even though sales grew moderately, due to the uncertainties experienced by Asian markets and the problematic international geopolitical context.

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