Retail in Asia

In Sectors

Shiseido launches beauty venture fund, invests in U.S. brand Phyla and Australia’s Patricks

Japanese beauty giant Shiseido announced the launch of Shiseido Long Term Investments for the Future (LIFT) Ventures, a newly formed company, which will be a vehicle for investing in innovative early-stage companies within the beauty wellness space.

SEE ALSO: Shiseido Q3 travel retail revenues hit hard by North Asia inventory issues, Japanese nuclear waste controversy

LIFT Ventures is focused on investing behind novel technologies, innovative platforms, high-growth brands, and new business models, among others, said the Tokyo-based company, adding the fund aligns with Shiseido’s goal of becoming a personal beauty wellness company.

The fund will primarily focus on compelling innovation in the western hemisphere (the Americas), while maintaining a global lens, it added.

“Since Shiseido’s founding in 1872, innovation has served as a foundational pillar of our company and a critical component of our future,” said Masahiko Uotani, chairman and CEO of Shiseido.

“The creation of LIFT Ventures represents a new opportunity to partner with organizations focused on creating pioneering beauty wellness solutions and to gain further insights and access for Shiseido’s growth ambitions. LIFT Ventures presents a welcome opportunity to build knowledge, create value, and ultimately, achieve meaningful progress for all.”

Kicking off the venture, the fund has made inaugural investments in Phi Therapeutics (Phyla), a pioneer in bacteriophage technology, based in San Francisco and founded by Yug Varma, as well as Patrick Kidd Holdings (Patricks), a men’s grooming brand based in Sydney, and founded by Patrick and Aimee Kidd.

LIFT Ventures will be led by Ron Gee, Shiseido Americas’ president and CEO, and will be located in New York City.

“LIFT Ventures accelerates Shiseido’s continued focus on innovation and represents a natural extension of our commitment to enable the future of beauty and wellness,” said Gee.

“Supporting, mentoring, and empowering new businesses is an important component of our future roadmap. We are excited to share our unique perspective, exercise our extensive experience, forging strategic partnerships and helping like-minded entrepreneurs scale and achieve long-term growth. With this in mind, we are delighted to partner with Phyla and Patricks, two companies focused on driving innovation and disrupting their respective categories.”