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  • Shiseido Targets Global Growth to Overtake Top 3 Cosmetics Companies
  • 5 More South Korean Companies Approved to Invest in North Korea
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  • USA Automobiles Contribute 5% to World's Global Warming
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  • Tokyo, JAPAN -- Shiseido Co. Ltd., Japan's largest beauty products company is set on expanding globally to become one of the world's top three cosmetics companies by the Year 2005. Today, it ranks 4th. With steady growth in recent years, they plan to significantly boost sales to US$6.77 billion through a five-year global expansion plan. The plan calls for a sustained annual growth of 30% in existing overseas marketing. Today, the world's three leading cosmetics companies are The L'Oreal Group, Procter & Gamble Co. and Unilever. At fiscal year-end, 3/97, overseas growth was 28%, with total international sales of US$546 million. Shiseido's business has shown growth through increased assets (i.e. they added Helene Curtis Industries Inc. hair salon plus a Carter-Wallace Inc. skincare products plant) and future plans include expansion into new markets such as Vietnam and Colombia. Shiseido is planning to launch a new skincare and make-up line in the Fall that targets Asia's rapidly growing middle class. The Asian market demand for cosmetics is expected to grow by $1 billion annually, with China demonstrating the greatest growth potential.

    We should expect to see Shiseido's growth throughout Asia, the USA and in Europe, France, in particular, which they see as a strategically important country as the center of fashion. Currently 38% of sales are from Europe, 34% from Asia and 20% from the USA. Plans are to increase their presence in Asia, capitalizing on their Asian expertise, with sales equal to about 40%, USA and Europe will each balance out at about 30%. Their global launch initiative includes forming regional headquarters in Europe, the United States and Asia.

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    Seoul, S. KOREA -- Five South Korean companies were approved to invest in North Korea as part of an effort to improve relations between the two nations, according to the National Unification Ministry. Samsung Electronics Co., S. Korea's largest electronics company and Kolon International, a leading textile products manufacturer are among the five S. Korean companies. The other three companies include apparel and food processing companies. Early in August, officials of North and South Korea, the USA and China are meeting to begin peace talks between the North and South Korean nations.

    Until now, only 15 companies had approval to invest in the North. Of the now 20 companies with approval, only two have actually invested in the North for joint ventures. They are:

    • Daewoo Corp. -- invested US$5.12 million in a clothing manufacturer in N. Korea's western port of Nampo
    • Taechang Co. -- invested $5.8 million in a project to produce mineral water in the eastern province of Kangwon
    In addition to the business ventures, the United States pledged $52 million in food aid to the hunger-stricken North and S. Korea pledged $16 million . The S. Korean Red Cross pledged an additional $20 million worth of food aid.

    More information about S. Korea and N. Korea.

    KOREA -- Hyundai Motor Co. and Daewoo Motor Co. have agreed to back Kia Steel. Kia Steel makes specialty steel and auto parts and presently employs over 2100 people. Kia's steel subsidiary has amassed more than US$1 billion in debts due to aggressive expansion of a specialty steel plant completed in April and a decline in domestic sales by its flagship Kia Motors Corp. They defaulted on bills due in June and are under bankruptcy protection for 2 months. The creditors demanded that Kia executives resign and that they sell off Asia Motors. Kia said they planned to sell off some subsidiaries of Asia Motors and absorb the remaining company into Kia Motors. No final decisions were made at this time. If all goes as planned, the three carmakers will have equal stakes in Kia Steel.

    Kia Steel is a subsidiary of Kia Group, S. Korea's eighth largest conglomerate, with 28 subsidiaries and more than 52,000 employees.

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    USA -- Automobiles in the USA contribute about 5% to the world's entire carbon dioxide emissions which scientists believe is a key factor in global warming. No other country or energy sector in the world accounts for such a large share of this. It is estimated that with Americans' changing 'tastes' in vehicles [from the smaller ones (introduced during the 1970's energy crisis) to the now preferred larger Sport Utility Vehicles] that annual carbon emissions from US motor vehicles could more than double within the next 50 years. To counter this trend, we may see an increased focus on issues, such as increasing taxes (as an incentive to drive less), fuel production (cleaner fuels) and (smaller, more efficient) car design as well as marketing (attitudes and values). Today, Americans are driving bigger cars than they have in the past 20 years, with excuses of safety features, new and expanding Baby Boom generation families, etc. Meanwhile, the world's consciousness is raised concerning "green" issues and global warming.
    (Source: YOUR LINK HERE)
    Manila, PHILIPPINES -- San Miguel Corp. (SMC), the Philippines-based beverages, food and packaging group reports significant increases in beer sales in Asia, despite posting an operating loss for the first half of 1997 (of US$18.2 million). SMC's beer sales volume grew by 12% in China (including Hong Kong) and it more than doubled in Vietnam. Nevertheless, profit was offset by heavy spending on distribution and brand development efforts, primarily in China. SMC's international beer sales revenues were up 3% to US$128.1 million. Sales were offset by a volume drop in Indonesia as a result of a soft market and production difficulties associated with the start-up of the new brewery. Domestic beer sales revenues also declined by 1% to US$454.9 million. There was a 5% drop in volume.
    (Source: YOUR LINK HERE)
    Bangkok, THAILAND -- Thailand's new tourism plan is expected to attract 17 million tourists and generate more than US$22 billion in revenue over the next two years according to the country's Prime Minister, Chavalit Yongchaiyudh. The government is counting on this tourism promotion plan to improve Thailand's economic troubles. In addition to attracting foreign tourists, native Thai's are encouraged to vacation locally and buy Thai products. Thailand is experiencing severe economic troubles including a sharp stock market decline, and a sharp devaluation of the baht, the national currency, due to private sector over-spending.
    (Source: YOUR LINK HERE)
    London, UK -- The British Broadcasting Corporation announced that they signed an agrement with Jordan Radio and Television. The BBC will reach around 2 million people in greater Amman, Jordan and parts of the West Bnak through its all day programming on FM radio in Arabic. In addition, the BBC will train Jordanian broadcasters in journalism and engineering.
    (Source: YOUR LINK HERE)

      [PANGAEA specializes in consumer marketing insights and integrates the full spectrum of business intelligence into thoughtful market launch strategies for its clients.]

    Berlin, GERMANY -- Germany's top television groups, ProSieben Media AG and the RTL network announced plans to increase the price of advertising on their stations in 1998. ProSieben prices are expected to increase an average of 4.5%; its second channel, Kabel 1 is expected to go up 6.2%. RTL, Germany's largest station, will increase prices an average of 5.5%, RTL2 by 2% and Super RTL by 24%.
    (Source: YOUR LINK HERE)

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    LAST MINUTE TRAVEL BARGAINS -- Special Discounted Fares

    American Airlines' Net SAAver International offers last minute travel bargains for travelers departing from the USA. You can schedule a last minute meeting or a weekend getaway to selected destinations throughout Europe, the Caribbean, Central America or South America each week and benefit from these discounted rates.

    Through this program, you can fly at discounted rates, as long as you can plan to travel on short notice. These low round-trip fares are good for travel only on the dates specified. They expire on Fridays. Check back each Monday for the week's destinations!

    From Boston (BOS) to:

  • US$153 -- Bermuda, Bermuda (BDA)
  • US$279 -- London, Heathrow Airport, United Kingdom (LHR)

    From Chicago (ORD) to:

  • US$230 -- Mexico City, Mexico (MEX)
  • US$299 -- Stockholm, Sweden (ARN)

    From Dallas/Ft. Worth (DFW) to:

  • US$200 -- Cancun, Mexico (CUN)

    From Miami (MIA) to:

  • US$250 -- Bogota, Colombia (BOG)
  • US$409 -- Buenos Aires, Argentina (EZE)
  • US$138 -- Curacao, Netherland Antilles (CUR)
  • US$113 -- Grand Cayman, Cayman Islands (GCM)
  • US$349 -- La Paz, Bolivia (LPB)
  • US$300 -- Managua, Nicaragua (MGA)
  • US$200 -- San Jose, Costa Rica (SJO)
  • US$349 -- Santa Cruz, Bolivia (VVI)
  • US$125 -- Santo Domingo, Dominican Republic (SDQ)

    From New York Kennedy (JFK) to:

  • US$245 -- Aruba, Aruba (AUA)
  • US$179 -- Port au Prince, Haiti (PAP)

    Discover Puerto Rico:
    From $63 per person double occupancy
    Vacation Package includes - 2 nights accommodations; does not include airfare.
    [Vacation prices valid through January 20, 1998.]

    [Restrictions apply. Check with American Airlines for details.]

    To take advantage of these fares, you must depart on Thursday or Friday, September 4, 1997 or September 5, 1997. Thursday departures return anytime the following Monday and Friday departures return anytime the following Monday/Tuesday. Call 1-800-344-6702 and ask for Net SAAver International Fares to book your flight. Or subscribe to their mailing list for more information.

    You can also read the latest news about Travel & Tourism.

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