Bare Escentuals to shift headquarters to New York in 2017

Bare Escentuals is planning plans to move its headquarters to New York in order to gain access to R&D centres of its parent company, Shiseido.

This step is also part of its efforts to reposition the brand and improve business in the long-term, reported Bizjournals.com.

According to a WWD report, the relocation will be completed by April 2017.

Shiseido Americas president and CEO Marc Rey told WWD: "The whole move is to grow the brand. This is not a cost-cutting exercise."

This move may lead to several jobs cuts.

Bare Escentuals currently employs around 250 people in the Bay Area operations.

Its plan to streamline internal operation structures indicates job cuts, according to Bizjournals.com.

Bare Escentuals founder Leslie Blodgett sold the company to Shiseido in 2010 for $1.7bn.

After the divestment, Blodgett has been serving the firm as executive chairman.