Shiseido has set up a venture capital fund to make early-stage investments in innovative companies in the beauty and well-being sector.
The Japanese Shiseido Group has announced the launch of Shiseido Long Term Investments for the Future (Lift) Ventures, a newly created limited liability company dedicated to investing in innovative start-up companies in the beauty and wellness sector.
The focus will be on new technologies, innovative platforms, high-growth brands and new business models. The fund will focus primarily on innovation in the Western hemisphere, while maintaining a global vision.
At the same time, the company also announced the fund's first investments in Phyla, a US company investing in bacteriophage technology, and Patricks, an Australian brand of men's skincare products.
"Since Shiseido was founded in 1872, innovation has been a fundamental pillar of our company and an essential element of our future. "said Masahiko Uotani, President and CEO of Shiseido. For the CEO, the creation of Lift Ventures represents a new opportunity to forge partnerships with companies focused on creating pioneering beauty and wellness solutions, and opens up a whole new world of possibilities for Shiseido.
"Supporting, mentoring and empowering new businesses are important elements of our future roadmap. We're excited to share our perspective, exercise our vast experience, forge strategic partnerships and help like-minded entrepreneurs develop and achieve long-term growth. With this in mind, we're delighted to be partnering with Phyla and Patricks, two companies committed to driving innovation and disrupting their respective categories."says Ron Gee, President and CEO of Shiseido Americas.
Lift Ventures will be headed by Ron Gee and based in New York.
Photo taken from https://corp.shiseido.com.
