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PARIS ­— Shiseido Co. Ltd. and Dolce & Gabbana have partially terminated their beauty license agreement, which is subject to closing conditions, the companies said in a joint statement.

The agreement will be effective on Dec. 31 for all markets and activities, save for those carried out from France.

“Beauté Prestige International SAS (“BPI,” headquarters: Paris) is currently considering a proposal from Dolce & Gabbana to conclude the license activities carried out from France by the end of this year and to pursue the production and distribution of Dolce & Gabbana Beauty products on a worldwide scale for a minimum 12-month period, effective Jan. 1, 2022,” the companies said.

The termination is in line with Shiseido’s medium- to long-term strategy, called “Win 2023 and Beyond.”

Shiseido representative director, president and chief executive officer Masahiko Uotani has said publicly that the group plans to focus more on skin care. By 2023, desyrel restless legs he said 80 percent of all company sales should come from skin care products. That’s versus the approximately 60 percent today.

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Shiseido and BPI inked the Dolce & Gabbana license agreement in October 2016. The deal included the development, manufacturing and distribution of the Italian fashion brand’s fragrance, makeup and skin care. In 2015, the activity generated wholesale revenues of more than $500 million, according to industry sources.

As reported earlier this week, Shiseido is considering selling some of its North American makeup assets, including Bare Minerals, Laura Mercier and Buxom, according to industry sources.

Earlier this year, Shiseido inked a deal to sell its personal care segment to CVC Capital Partners for $1.5 billion. With that transaction, Shiseido shed mass market assets in order to focus on the rest of the beauty business.

Fore more, see:

Shiseido Said Considering Selling North America Makeup Brands

Shiseido Surges in Trademark Applications, L’Oreal Slides

Shiseido Posts 2020 Net Loss, Looks to Brighter Future

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