Shiseido has agreed to sell bareMinerals and two other US cosmetics brands to private equity firm Advent for $700m, closing a bitter chapter in the Japanese company’s $2.1bn expansion into the US.
The sale of bareMinerals, Buxom and Laura Mercier for an amount two-thirds below the original price tag marked a broader strategic shift for Japan’s largest cosmetics group.
Under chief executive Masahiko Uotani, the company has said it would focus on higher-margin skin care products, particularly in Asia.
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