Since the beginning of this month, Shiseido has been the first Japanese cosmetic brand to enter the Argentine market with the aim to strengthen its presence in Latin America. Products to be sold include the brand’s prestige skincare and makeup lines.
Shiseido is partnering with the Greta Group, a Buenos Aires headquartered distributor with a proven track record in terms of sales of prestige cosmetics products in Argentina. With this new endeavour, Shiseido’s overseas cosmetics sales will encompass 89 countries and regions (including Japan) throughout the world. Founded in 1977, the Greta Group engages in business in four countries in the southern region of South America, focused on Argentina, as well as Chile, Peru and Uruguay.
Argentina is the fifth country in the Latin American market in which Shiseido is pursuing inroads, following Brazil (from May 2012, through bareMinerals), Mexico, Colombia (November 2010) and Panama (January 2011).
As for the cosmetics market, the Argentine market ranks second, after Brazil, among South American countries. With a well-established sales network of locally capitalized prestige cosmetics specialty stores in place, full-scale business expansion of major European and U.S. cosmetics brands is being carried out. In 2010, the scale of the Argentine prestige cosmetics market has expanded steadily, realizing a 30% increase to USD 127 million (approximately EUR 97 million).
Shiseido intends to carefully select stores with a proven performance in counselling sales for prestige cosmetics products. The Japanese group aims to open approximately 15 stores in 2012 and to expand to 20 stores or more the following year.
