Shiseido recent device called “Optune” that works on a smartphone app platform that scans and analyse user’s skin condition
Global: Shiseido, one of the giants in Asia’s cosmetic market is reimagining its acquisition strategy to capture the U.S. Market. This is a way to connect technology with beauty devices and products. These latest technological advancements related to beauty treatments will have a positive impact on the beauty and skincare market in the forthcoming years.
In the past two years, Shiseido has successfully acquired three start-ups MatchCo, Giaran and Olivo Laboratories. These acquisitions have led to technologies in artificial skin, customised make-up etc. using such technologies Shiseido recently came up with a device called “Optune” that works on a smartphone app platform. The device scans and analyse user’s skin condition. It also relates to other factors like weather condition and suggests the best suited products.
According to Masahiko Uotani, CEO of Shiseido, technological advancement is necessary in every industry. In recent times, to rule the beauty products market a company has to come up with new and advanced launches. According to their strategy, Shiseido is planning to invest heavily on its R&D. E-Commerce is a growing business in terms of distribution channel. The company is also investing on online sales channel. The company is optimistic that these factors will enhance the market.
According to BlueWeave Consulting, these latest mergers and acquisitions by Shiseido will have a positive impact on the global market. Furthermore, L’Oreal acquired ModiFace, which is a Canadian beauty tech company that works on Augmented Reality and Artificial Intelligence. The traditional ways will not help in the growth of this market anymore. These latest developments of Shiseido, is estimated to have a major impact on the U.S. as well as the global market.
According to recently published report by BlueWeave Consulting, on “Global Beauty devices Market, By Type Of Device, By Application, Forecast & Opportunities 2024”, the global beauty devices market is growing at a significant rate. The major factors driving the market are increasing geriatric population, rising prevalence of skin diseases and growing prevalence of hormonal problems. Additionally, the increasing inclination of consumers towards easy to use at-home beauty devices is further supporting the growth of the market. In recent times people are becoming more and more beauty conscious. This is also in alignment with increasing purchase power and improved standard of living of the consumers. The advanced beauty products and services offers salon like results at home. This in turn minimizes time consumption and enhances the global market. The global beauty devices market accounted for revenue of USD 33 billion in 2017, and is anticipated to grow at a CAGR of above 19% during the forecast period. North America is the largest revenue generator in terms of region. But Asia Pacific is expected to grow at the fastest rate.