Shiseido China Sales and Travel Retail Performance in 2024
2025-03-14
In Shiseido's revenue structure, there are two aspects related to the Chinese market: one is the sales revenue from China as a geographical region, and the other is the contribution from Hainan in global travel retail.
In 2024, Shiseido's sales revenue in China was approximately 250 billion yen (about RMB 11.8 billion), with a year-on-year increase of 0.8%. The sales revenue from China accounted for 25.2% of its global sales, second only to Japan, its "home base" (which accounted for 28.6%).
The 0.8% growth rate of sales revenue in China can be seen as a mixed blessing. On the one hand, due to factors such as the Chinese consumers' aversion to Japanese products caused by Japan's discharge of nuclear-contaminated water into the sea in 2023, Shiseido's sales revenue in China declined by 4.0% in 2023. Now, in 2024, it has finally stopped falling.
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