Shiseido decides to invest in a minority in Perfect

 Shiseido has decided to invest in a minority in "Perfect Corp.", one of the industry's leading beauty tech companies that provides solutions for AR, AI and Saas.

Shiseido will acquire a minority stake at the timing when the company is scheduled to be listed on the US NASDAQ market through the de-SPAC process with Provident Acquisition Corp., a special acquisition company. Aiming for completion by the third quarter of 2022.

Under the medium- to long-term management strategy "WIN 2023 and Beyond," the Shiseido Group positions "conversion to a digital business model and organizational construction" and "strengthening innovation through collaboration with other companies" as important elements of its main strategy.

For several years, Shiseido has developed virtual makeup and beauty platforms using Perfect's advanced technology under major brands, and has built trust and partnership with the company.

By investing in a minority in Perfect this time, we will not only strengthen the relationship between the two companies, but also learn the latest technological trends and consider and accelerate collaboration in new fields. This will further accelerate DX, provide new beauty experiences, and aim to become a global digital leader in the beauty market.

Founded in 2015 by current CEO Alice Chan, Perfect has become one of the leading beauty tech companies in the beauty and fashion industry, providing AR, AI and Saas solutions for makeup, skin care and hair. We are building a platform that connects consumers and brands in categories such as color and accessories.

The company's service is currently adopted by 95% of the world's top 20 beauty companies, 400 brands, and the app has exceeded 950 million downloads and is used more than 10 billion times a year in more than 80 countries and regions. ..

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