Kao Brand enters the Kanebo Shiseido facing strong opponents

Japan Industrial Recycling Agency held an industry regeneration committee meeting on the 16th and formally decided to sell Kanebo and Kanebo Cosmetics to Kao and other companies. The estimated selling price is approximately 440 billion yen, which exceeds the ¥410 billion in refinancing agency financing for Kanebo and Kanebo cosmetics. A total of three parties participated in the bid. As a result, Kao Wang and others won favor with the highest purchase amount and a sound reconstruction plan. On the same day, the Recycling Agency and Kao signed an agreement to officially sell Kanebo in January of next year.

In the future, the Kanebo brand will be fully managed by Kao and plans to re-launch the new brand within two years. Kao’s winning bid marks the birth of a new group in Japan that can compete with industry leader Shiseido.