Japan cosmetics giant Shiseido sees 2022 'turning point' in tourism sales

Shiseido is aiming to reach 15% operating margin by 2023 and become the global leader in skincare by 2030. To get there, the company is divesting of some lower-priced brands.

TOKYO: The chief executive of Japanese cosmetics giant Shiseido Co believes inbound tourism will return next year as the pandemic abates, beginning a gradual recovery in sales of high-end goods to travellers.

A halt in tourism amid the COVID-19 pandemic has cut off sales to Chinese visitors, a critical segment in years past. China may start to ease travel curbs after hosting the Winter Games in Beijing, and a reciprocal opening in Japan would start a "welcome back" of tourist shoppers, Chief Executive Masahiko Uotani said.