Japan-based Kanebo Cosmetics plans to introduce a new brand for the Asian market later this year, as part of its global expansion plan.
It aims to make annual revenues of $273m from the new brand.
To be launched in September, the new premium-priced cosmetics brand will become the company’s flagship range, reported Cosmeticsdesign-asia.com.
The company’s products are currently sold at around 350 outlets in Japan, primarily at department stores.
It now intends to tap South-East Asian countries and aims to introduce its products in these markets by next year.
Kanebo president Masumi Natsusaka was quoted by Japan Times as saying: "We will strengthen our weak skincare product business.
"We want to make the new brand our representative brand."
Cosmetics to be launched under the new brand will target women looking for natural skincare and make-up. Around 24 products will be introduced and priced between JPY2,700 ($34) and JPY8,640 ($109).
The firm recently opened its third production facility in China.
It is also planning to double the sales of its existing Kate brand in order to reach $369m in another four years.
