LIFT Venture, Shiseido’s new bet in the beauty industry

Shiseido, the Japanese beauty giant, is venturing into the world of beauty and wellness startups with the creation of an investment fund specifically dedicated to this sector and young companies, named LIFT Venture. To achieve this, Shiseido has established a limited liability company designed to support these startups in launching their operations and accelerating their growth.

In a press release, Shiseido's CEO, Masahiko Uotani, stated: 'LIFT Ventures will represent an opportunity to develop knowledge, create value, and ultimately make significant progress for all.' This fund will target high-performing platforms as well as young brands with a strong identity and high growth potential.

Shiseido will initially focus on Western markets with a long-term global perspective. The headquarters of Lift Venture will be based in New York, with a primary focus on the American market, and will be led by Ron Geele, CEO of Shiseido Americas. This shift towards the West comes in response to the slowdown in the brand's financial performance in China, exacerbated by a recent boycott of Japanese products following the Japanese government's decision to release radioactive water from the Fukushima nuclear plant into the Pacific Ocean, damaged by the deadly tsunami of 2011. Despite Tokyo's assurances of the safety of this operation, the boycott had a noticeable impact.

As a result, Shiseido has revised down its annual revenue forecasts, from 1 trillion yen (6.1 billion euros) to 980 billion yen (6 billion euros), representing an 8.2% decline compared to the previous fiscal year. This negative trend, however, does not deter the Japanese beauty giant, as it continues its expansion policy, not only in the West but also in India, where the brand's first store was opened last October in partnership with the Indian group Baccarose.