Shiseido seeks to raise China sales by 15% a year

Japan’s biggest cosmetics maker, Shiseido (4911.TY), aims to increase its China sales by at least 15% per year as consumer incomes continue to rise, Bloomberg reported. China accounted for about 10% of Shiseido’s US$7.76 billion revenue in the fiscal year ended in March 2010. The 138-year-old cosmetics maker seeks to boost overseas sales to 50% of total sales by 2017, up from an expected 42% this fiscal year, as demand in Japan drops due to sluggish wage growth and an aging population. Shiseido, which competes with L’Oreal SA (OR.Euronext) and Procter & Gamble (PG.NYSE), introduced the DQ skincare brand and hair care products last year in China. "Interest among women in skincare, makeup and hair care is increasing, boosting cosmetics use,” said the company’s incoming president, Hisayuki Suekawa.