Beijing Liyuan reportedly plans to sell its 35 per cent stake in its long-running cosmetics joint venture with Japanese beauty company Shiseido, ending a more than three-decade partnership. 

According to a listing on the China Beijing Equity Exchange, Beijing Liyuan is seeking at least RMB199.5 million (US$29.3 million) for its stake in Shiseido Liyuan Cosmetics.

Chinese business publication Yicai Global reported that Shiseido China Investment, which jointly with Shiseido holds the remaining 65 per cent of the venture, confirmed the planned transaction but did not disclose whether it intends to acquire the stake. 

Founded in 1991, Shiseido Liyuan Cosmetics was established to develop products tailored to Chinese consumers. 

Its flagship brand, Aupres, was created exclusively for the Chinese market and became a cornerstone of Shiseido’s local strategy as the company expanded its presence in the country.

The proposed sale remains subject to completion, and neither Beijing Liyuan nor Shiseido has disclosed further details on the transaction.

• Further reading: How Shiseido rebuilt its margins while its sales keep sliding.