Shiseido announced a new joint venture with Yaman Co. for skincare and beauty devices called Effectim Co.
WHO: Yaman is the number-one Japanese brand in China’s beauty device market. The company has a history of developing professional beauty equipment and technology for at-home devices since 1978.
In 1872, Shiseido opened its doors in Ginza, Tokyo. The family business that started out as Japan’s first Western-style pharmacy transformed into a global beauty giant that currently operates in approximately 120 countries and regions around the world. Shiseido’s history and tradition is characterized by a long string of innovations and category firsts that have repeatedly set new standards and whose effects have rippled across the entire beauty industry.
WHY: One of Shiseido’s key business strategies, as per its VISION 2020 mission, is to combine its expertise with business partners to establish innovative business models. This latest deal aligns with that goal.
- Shiseido has signed an agreement to establish a joint venture with Yaman Ltd.
- The new company will be named Effectim Co. and will commence operations from October this year.
- Shiseido owns 65% and Yaman Ltd will have a 35% stake.
- Brands and products of Japanese origin with “Made in Japan” proven safety and quality will be created by applying both Yaman’s highly advanced beauty device technology and Shiseido’s cutting-edge skin science technology.
- Products developed through the joint venture are planned to be launched in Japan and China in 2021.
Photo: via Yaman