Shiseido may close Chinese shops
Shiseido has announced that it plans to close all of its wholly-owned stores in China.
The company says that it has already officially closed its store in Nanjing and will go on to shutter stores in Beijing and Hangzhou in September.
Once this is done, the company will not own any stand-alone stores in China. The closures have been attributed to expiry of rental terms and a successful franchising operation.