istyle, Amazon join forces
1:00 JST, August 17, 2022
NEW YORK — The Japanese operator of @cosme, one of the nation’s largest cosmetics and beauty portals, announced capital and business tie-ups with Amazon.com on Monday.
The U.S. tech giant will invest up to ¥14 billion in istyle Inc. through stock acquisition rights. When all the stock acquisition rights are exercised, Amazon will become istyle’s largest shareholder with a stake of about 37%.
Tokyo-based @cosme has 7.8 million registered members, mostly women in their 20s and 30s, and handles about 370,000 products.
According to the announcement, a website tentatively called @cosme Shopping will open on Amazon’s portal, selling cosmetics and providing beauty information to Amazon customers.
Drugstores and department stores are the main outlets for cosmetics sales in Japan. Parent company istyle has specialty stores in Tokyo’s Harajuku district and Yokohama, among other locations. Amazon is expected to expand its cosmetic sales through cooperation with the physical stores.
Jasper Cheung, president of Amazon Japan G.K., said the company wants to bring innovation to shopping for cosmetics and beauty products, to increase the convenience and satisfaction of customers.
In July, Amazon said it would acquire membership-based healthcare provider One Medical. In August it announced it would buy iRobot Corp., maker of the robotic vacuum cleaner Roomba.
Amazon is expected to focus on expanding its businesses by drawing on its expertise in e-commerce and artificial intelligence.
"Business" POPULAR ARTICLE
-
Japan, U.S., Philippines to Strengthen Nickel Supply Chains; Reduce Reliance on China for Critical Minerals
-
Shinkansen to Have Private Rooms by FY 2026, JR Tokai Announces
-
Survey: 80% Worried About Recognizing AI as Patent Inventor; Respondents Fear Increase in Unverified Inventions
-
Japan’s Docomo To Sell Contactless Smart Rings; Users Can Make Payments at the Wave of a Hand
-
Japan Top Currency Diplomat: No Comment on Exchange Rate Fluctuations
JN ACCESS RANKING
- China Mutes Memorialization of Reformer Hu Yaobang; Memories Could Spark Critique of Xi Administration
- Shinkansen Services Suspended After Man ‘Searches for Phone’ on Tracks; Disruption Affects About 14,000 Passengers
- U.S. 7th Fleet officer Arrested on Suspicion of Stealing Sushi, Sashimi, Chicken at Kanagawa Shopping Mall; Suspect Caught Mid-Meal
- UNRWA Director Describes Catastrophic Destruction in Gaza; Says Relief Trucks Robbed, ‘People’s Hearts Destroyed’
- JAL Airplane Experiences Radio Malfunction During Flight, Lands Safely By Relying on Light Signals