Japanese cosmetics conglomerate and owner of bareMineral's cosmetics line Shiseido has established a new cash fund for emerging beauty and wellness brands in China.
The Shiseido Beauty Innovations Fund is scheduled to start this year, subject to regulatory filings in the country, in partnership with Boyu Capital, a Chinese investment firm.
Tech companies, including e-commerce and consumer experience businesses, will also be considered for a cash injection.
Since entering the market importing and selling products in China’s capital Beijing four decades ago, Shiseido has expanded its operations there to become the company’s second HQ.
Over the last 40 years, China has seen strong overall growth in the cosmetics sector, and Shiseido’s latest venture intends to further meet the diverse beauty needs of its customers.
Shiseido's decision to increase its presence in the market follows its Chinese Business Innovation & Investment Office (CBI) in 2019.
This department will work closely with Boyu going forward to identify and target emerging businesses.