Skip to main content
BoF Logo

Agenda-setting intelligence, analysis and advice for the global fashion community.

The Business of Fashion
Global Markets

Why Japanese Beauty Giants Are Buying Up Global Brands

M&A is gathering pace in Japan’s beauty industry as local conglomerates look to diversify their portfolios beyond Asia and target high-growth categories overseas.
Model Hikari Mori and comedian Yuriyan Retriever attend the Shiseido Brand Ambassador announcement press conference on January 11, 2023 in Tokyo, Japan.
Model Hikari Mori and comedian Yuriyan Retriever attend Shiseido's brand ambassador announcement event in January 2023 in Tokyo, Japan. (Getty Images)
By
BoF PROFESSIONAL

Though sun care is a mature industry in Japan, the category hasn’t performed all too well in recent years. According to Mintel, the country’s market for sunscreens, self-tanners and after sun products decreased in value by 12.7 percent in 2022, compared to a surge in other markets, such as the UK, which registered 20.4 percent growth.

Please sign in to ensure you can read our agenda-setting intelligence, analysis and advice. Or get in touch at support@businessoffashion.com if you experience difficulties.

Further Reading

Bringing Shiseido Back to Life

Japanese beauty giant Shiseido is facing competition from younger, buzzier J-Beauty rivals and trying to modernise its approach.

About the author
Zoe Suen

Zoe Suen is a contributing writer at The Business of Fashion. Suen is a freelance writer, editor, and consultant who writes about luxury fashion and beauty.

In This Article
Topics
Organisations
Location
Tags

© 2026 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Global Markets
A guide to unlocking opportunity in emerging and frontier fashion markets.

How Oil Shock Fears Are Rippling Through Fashion | The Debrief

This week on The Debrief, BoF’s Shayeza Walid and Cathaleen Chen unpack why the war in Iran and disruption in the Strait of Hormuz matter to fashion — from synthetic fibre costs and factory energy shortages to freight surcharges and weakening consumer confidence.

Oil Shock: What Fashion Needs to Know

Monday’s price spike proved short-lived, but volatile markets, supply disruptions, rising freight costs and shaky consumer confidence have put the global fashion industry on edge.

view more
Latest News & Analysis
Unrivalled, world class journalism across fashion, luxury and beauty industries.
VIEW MORE

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
© 2026 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.