Shiseido to enter Argentine cosmetics market

Japan-based cosmetics manufacturer Shiseido group is all set to enter the Argentine Republic, with a focus on selling its skin care and makeup lines.

The company has formed a strategic alliance with Argentina-based Greta Group to market its SHISEIDO brand prestige products in the region.

Argentina marks fifth country for the company in the Latin American market, following Brazil, Mexico, Colombia and Panama.

The company has been selling SHISEIDO brand in Colombia and Panama since November 2010 and January 2011, respectively, and plans to introduce the bareMinerals brand from Shiseido’s North American subsidiary in Brazilian market in this month.

Shiseido plans to select about 15 stores having proven track record of selling prestige cosmetics products, proposed to be expanded to 20 stores in 2013.

Ranking second among South American countries, according to the company, the Argentine cosmetics market has grown by 30% to $127m (JPY10.2bn) in the fiscal 2010.

Greta Group sells and markets imported prestige cosmetics brands and operates in Argentina, Chile, Peru and Uruguay, with specific focus on Argentine market.