MANILA - Japanese personal care company Shiseido cemented its operations in the Philippines with the launch of its local arm in a bid to expand market reach, one of its officials said on Thursday.
The company, which has less than 10-percent market share here with 27 stand-alone stores operated through Singapore-based Luxasia and local firm SSI Group, expects to see "double-digit" growth with the launch of its local unit, Shiseido Philippines managing director Koji Nakata said.
"At this point, we don't have a significant market share in the Philippines so one of our objectives of launching the company is to accelerate the business and expand our market share in the country," he said.
The cosmetics or make-up segment is likely to drive sales in the populous southeast Asian nation, Nakata added.
Along with its popular Shiseido products, the company will also sell its affordable facial care brand "Senka" in a bid to tap a bigger slice of the local market, he said.
The Japanese firm will partner with Watsons to distribute its products, leveraging the retailer's over 800 branches nationwide, Nakata said.
The Philippines is among Shiseido's 3 major growth markets in Southeast Asia along with Vietnam and Indonesia, Shiseido Asia Pacific president and CEO Jean-Philippe Charrier said.