Throughout its 126-year history, art and beauty have been as important to Shiseido Co., Ltd., Japan's largest cosmetics manufacturer, as making money. Each successive president who has run the company has paid the appropriate homage to the bottom line: the company ranks fourth in the world with sales last year topping $5 billion. But what has distinguished Shiseido from its peers and made its name synonymous with quality and sophistication has been an operating strategy that has made beauty and art an integral part of its corporate culture.
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