Drunk Elephant owner will pursue its financial ambitions to register on the country’s Prime Market
Japanese beauty owner Shiseido is poised to make its move onto Tokyo’s Stock Exchange.
The cosmetics company, which counts Drunk Elephant and NARS among its beauty portfolio, received confirmation that it could enter the stock market in July.
A Board meeting held last week confirmed the company would continue its pursuit onto the prime market.
Shiseido’s announcement comes amid a flurry of action among beauty brands venturing into the public financial sphere.
Beauty owner and e-commerce provider The Hut Group (THG) said last month that it will separate its key trading division THG Beauty, which accounts for 48% of the group’s sales, in order to publicly list the business on the stock market.
Matthew Moulding, THG’s Executive Chairman and CEO addressed the announcement when discussing the group’s interim half-year ended results, in which revenue grew more than 44% year-on-year to £959m.
“Today we also update on the roadmap to separating our key trading divisions, and announce our commitment to list THG Beauty in 2022, which we believe will create further value for our shareholders,” he said.
Beauty start-up Nykaa is also plotting an IPO listing on India’s stock exchange, which could value the business at US$3bn.