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Shiseido beats recession with cream worth its weight in gold
"I'll cut back spending on other things, but not on my skin," said the 34yearold fashion stylist in Tokyo, who buys Shiseido's Creme Synergique, a moisturising skin whitener costing 126,000 yen (about 1,050) for a 40gram (1.4ounce) jar,[url=http://nikefreetilbud.hcslnet.com]nike free tilbud[/url], or about as much as the cost of the precious metal.
Shiseido, Japan's biggest cosmetics maker, said sales of the cream are better than expected, a reflection of how topend skincare products are gaining in recessionhit Japan. Rivals Kao Corp. and Kose Corp. said their most expensive lotions are also beating projections. Departmentstore cosmetics sales climbed for 23 straight months to November, even as consumer confidence dropped.
"Demand for luxury cosmetics remains firm, defying the economic slump," said Rika Matsumura, a retail analyst at Okasan Securities Co. in Tokyo. "Over the past 10 years or so, women have shown an increased interest in skin care and antiaging goods."
Shiseido, Kao and Kose are expanding their ranges of highpriced cosmetics even as overall departmentstore sales fell 9.4 percent in December, the biggest decline since March 1998.