Shiseido Sets Up Joint Venture In Turkey

Personal care company Shiseido announced it has established a joint venture with Turkish cosmetics import and sales distributor Vesco Kosmetik Ürünleri Paz. ve Tic. Ltd. Sti. (Vesco). Operations of Shiseido Kozmetik Anonim Şirketi (Shiseido Turkey) will begin in January 2012. Because Shiseido holds a majority equity stake, the joint venture will become a subsidiary of Shiseido, which entered the Turkish market in1998 through a distribution agreement with Vesco. Shiseido recently established overseas operations in Russia, Vietnam, Switzerland and Greece.