Yesterday issue of The Star reported that Kao plan to pursue a takeover bid of Kanebo Cosmetics Inc. This has proved my comment on 20 August 2005 accurate.
The report stated that L'Oreal SA, the world's biggest cosmetics company, Johnson & Johnson and Japanese cosmetics maker Kose Corp may make competing bids.Buying Kanebo would almost quadruple Kao's sales of make-up and help the Tokyo-based company challenge Shiseido Co, the leader in Japan's US$12.4bil cosmetics market.
Few days ago, COSMETICS Resources Sdn Bhd, Kanebo’s authorised agent in Malaysia, announced on The Star that the company is setting up five more Kanebo international salons in Kuala Lumpur, Johor Baru and Kuching by the end of next year.
Technorati Tag: Cosmetic : Beauty
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