Economic growth boosts cosmetic sector
Japanese cosmetics group Shiseido has launched sales in the east European state of Georgia as part of its overall strategy to expand in the European market. Products including make-up and skin care lines will be marketed through distributor Prestige Ltd, a company based in Tblisi, with a solid track record in Georgia cosmetics sales.
The new move comes as Shiseido is making inroads into other regional markets including Mongolia and the Balkan countries of Albania, Kosovo and Macedonia. The company says Georgian economic growth – based largely on its role in crude oil and natural gas pipeline transport – is rising, with the cosmetics segment up by some 15% on the year earlier. The demand for prestige cosmetics is expected to increase over the next few years.