Aug 03 (yahoo.com) - Kiyoshi Matsuura was so worried about growing old that he started using an anti-baldness treatment as a teenager.
It was an obsession that went on to define his life. The Japanese entrepreneur continued to experiment with various supplements and other products, and founded his own company dedicated to fighting the ravages of time about 12 years ago.
Premier Anti-Aging Co. went public in Tokyo in October and quickly became one of Japan’s best-performing stocks. It’s more than tripled since listing, boosting the value of Matsuura’s stake to $817 million.
“I’m a bit of an anti-aging freak,” Matsuura, 52, said in an interview. “I started using the anti-baldness treatment when I was 18, and I’ve continued to use it ever since.”
While the global cosmetics industry has seen fierce competition over wrinkle treatments in recent years, Premier has secured a niche by concentrating on the domestic market through direct sales, including online-based subscriptions. Its main product is a cleansing balm that comes in five different types.
Market Transformation
Online sales account for about 70% of the company’s total revenue, which Matsuura sees as giving it an edge as digitalization starts to disrupt the cosmetics industry. Daiwa Securities Co. agrees, initiating coverage of Premier Anti-Aging at outperform last month, saying it stands to benefit from the e-commerce shift, especially amid the pandemic.
“The market structure is changing,” Matsuura said. “The coronavirus outbreak may have advanced the timing of these changes, but going digital is an enormous trend.”
