TOKYO -- Cuban-born American hairstylist Oribe Canales is known to have 1,000 people on his salon's waiting list. From the runway to the red carpet, anything he touches commands the spotlight.
Japanese consumer goods maker Kao hopes to attain a similar status in the cosmetics industry. In December, the company announced it will purchase the celebrity stylist's namesake brand, Oribe Hair Care, for an estimated 50 billion yen ($441 million). For Kao, known for its conservative management style, it is the priciest foreign acquisition yet.
