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10 years ago, Shiseido ratified a new tagline to describe its expansive ambitions to “Be a Global Winner With Our Heritage,” commencing a period of international expansion that was going well until it wasn’t.
A perfectly terrible storm was waiting on the horizon. The company’s largest markets of Japan, China and the US, alongside travel retail, were hit the hardest; Sephora tweens came and went; major acquisitions were reversed and executives shuffled in and out, unable to stem…
