Bishrelt Trade Company, a locally based distributor of which the main business is the import and export of cosmetics, will handle sales of the brand’s make-up and skin care products.
Products will be sold in the Mongolian capital Ulaanbaatar from the end of May 2010, according to Shiseido.
Mongolia set for continued economic growth
More than a third of the country’s population live in the capital, suggesting that the decision to commence sales in Ulaanbaatar is linked to targeting a higher population density.
Additionally, the company notes there is an increasing awareness of fashion amongst women living in urban areas, making them a prime market for prestige cosmetics.
According to Shiseido, Mongolia has experienced economic growth over the past few years as a result of the development of natural resources, which is expected to continue in the future.
Increased spending power associated with economic development has seen the market for prestige cosmetics experience rapid growth. While the market is still not large, it has almost doubled in size over the six-year period since 2003, Shiseido claims
The company expects its products to be sold in one store within a shopping centre in Ulaanbaatar City for the first year, during which time the company aims to develop brand awareness and loyalty.
Expansion into the Mongolian market is part of Shiseido’s three-year plan, through which the company aims to ‘become a global player with its origins in Japan’.
With the Mongolian launch, Shiseido products will be available in 74 different countries.
Over the past year, Shisiedo has launched in many new markets, including Switzerland, Azerbaijan, Laos and Morocco.