Shiseido to sell off popular brands for $1.5 bil.

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Japanese cosmetics giant Shiseido is shedding some of its popular brands to focus on the luxury market. The firm will sell off its shampoo and affordable skincare unit to a foreign investment fund for about 1.5 billion dollars.

The range includes key brands such as “Tsubaki” and “Uno”. It has a history of around 60 years. Executives say they now aim to focus on high-end cosmetics to boost earnings.

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