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Shiseido/Gerolymatos

This article was originally published in The Rose Sheet

Executive Summary

Agreement between European arm of Japan-based Shiseido and Athens-based Gerolymatos will yield a joint venture company called Shiseido Hellas, S.A., which will commence operations in January 2010, the firms announce. The deal will provide Shiseido a larger presence in Greece, according to the firms. Though Shiseido began selling cosmetics through a distributor in Greece in 1991, the deal will "establish a sales organization that is intimately connected to the market." Shiseido "has been under pressure to pursue its business in a more dynamic and proactive manner in response to recent changes in the market," firm says. The new company expects to develop a "robust sales organization" around enhanced customer service, according to the release

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