Shiseido creates new division with €24.6 million purse to invest in innovative start-ups
Japanese fragrance and cosmetics group Shiseido has an eye out for new opportunities with emerging start-ups, and has recently announced the creation of the Shiseido Venture Partners division, focusing on innovative business initiatives.
The division's objective is to invest in promising new brands, supporting them via the added value brought on by Shiseido’s know-how, as a means for the group to foster creativity and research in the cosmetics industry..
The new division has a JPY3 billion (€24.6 million) purse at its disposal, and has already invested on e-health company Dricos. The Japanese start-up was established in 2012 and has developed a system linked to a device which calculates the amount of nutrients a person needs, based on biometric and anthropometric data analysis, and can then create targeted food supplements.
Shiseido, owner among others of the Shiseido, BareMinerals, Issey Miyake and Nars brands stated that the new division's creation will only have a minor impact on its 2016 fiscal year, closing at the end of December. Shiseido has forecasted for the year a revenue of JPY848 billion (-1.8% on a yearly basis) and a net income of JPY30 billion (+1.8% on a yearly basis).
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