A story that ran on this wire Friday on the expansion plans of the Japanese cosmetic firm Kanebo misstated the figures on the company's expected sales growth and its current sales level in China. Kanebo expected its overall sales to grow in a range of 260 billion to 270 billion yen by the 2010 business year and its sales in China to jump from the current 1.9 billion yen to 20 billion yen. Because of a translation error, the story also misstakenly said cosmetics sales were generated in Japan at more than 1,000 retail outlets when it should have said they are generated through more than 1,000 cosmetic companies.
Tokyo- Japan's second-largest cosmetics manufacturer, Kanebo Cosmetics, on Friday announced plans to agressively expand its business worldwide over the next three years.
The company said it expected to increase its sales turnover by 25 per cent by the 2010 business year to about 260 billion to 270 billion yen (2.19 billion dollars).
The proportion in total overseas turnover was projected to increase from just under 10 per cent currently to 15 per cent through more focussed marketing measures, particularly in the Chinese market.
During the same period, the firm said, it intends to develop its range of skin-care products into the segment's leading brand in all German stores that carry the Kanebo brand.
Kanebo products are currently available in some 1,000 selected retail stores across Germany.
Since its introduction in the European market, Kanebo has become one of the leading brands in the prestige cosmetics segment.
By further fortifying its position in selected department stores and perfumeries, the Japanese firm said it expected to be able to increase its annual turnover in Europe to above 5 per cent on average.
To strengthen its image as a supplier of high-quality products made in Japan, the current brand name, Kanebo, is to be gradually changed into that of the company's core product line, Sensai.
Kanebo, part of the Kao group of companies since 2006, plans to achieve a tenfold increase of its turnover in the growth market of China from a current 1.9 billion yen to 20 billion yen.
With annual sales of 1.5 trillion yen generated through more than 1,000 cosmetic companies, Japan is still the world's second-largest cosmetics market after the United States.
Source : http://www.earthtimes.org/articles/show/49478.html
Tokyo- Japan's second-largest cosmetics manufacturer, Kanebo Cosmetics, on Friday announced plans to agressively expand its business worldwide over the next three years.
The company said it expected to increase its sales turnover by 25 per cent by the 2010 business year to about 260 billion to 270 billion yen (2.19 billion dollars).
The proportion in total overseas turnover was projected to increase from just under 10 per cent currently to 15 per cent through more focussed marketing measures, particularly in the Chinese market.
During the same period, the firm said, it intends to develop its range of skin-care products into the segment's leading brand in all German stores that carry the Kanebo brand.
Kanebo products are currently available in some 1,000 selected retail stores across Germany.
Since its introduction in the European market, Kanebo has become one of the leading brands in the prestige cosmetics segment.
By further fortifying its position in selected department stores and perfumeries, the Japanese firm said it expected to be able to increase its annual turnover in Europe to above 5 per cent on average.
To strengthen its image as a supplier of high-quality products made in Japan, the current brand name, Kanebo, is to be gradually changed into that of the company's core product line, Sensai.
Kanebo, part of the Kao group of companies since 2006, plans to achieve a tenfold increase of its turnover in the growth market of China from a current 1.9 billion yen to 20 billion yen.
With annual sales of 1.5 trillion yen generated through more than 1,000 cosmetic companies, Japan is still the world's second-largest cosmetics market after the United States.
Source : http://www.earthtimes.org/articles/show/49478.html
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