She graduated into a financial crisis. Today she runs Shiseido Asia Pacific.

Text: Vivien Yap | Photos: Nicole Tan

Nicole graduated from Nanyang Business School (NBS) in 1997 – straight into the Asian Financial Crisis – and was one of two people selected from 600 applicants for a management trainee programme at Gilette. Two decades later, she runs Shiseido Asia Pacific, reaching nearly 700 million consumers across the region.

But ask her what shaped her most, and she doesn’t reach for the resume.

“You can have it all, but not all at the same time,” she says. “If you know what you want, then you also need to know the trade-offs you must make.”

That philosophy has guided every major decision in a career built across some of the world’s most recognisable brands. It also explains why Nicole, who grew up spending her pocket money on fashion magazines, never lost sight of why she entered the beauty industry in the first place.

“For as long as I recall, I've always been very interested in beauty,” she says. “As people, we are naturally drawn to beauty in life.”

Nicole with her parents during her convocation in 1997.

Sharpening interest into capability

At NBS, Nicole majored in marketing with a minor in human resource management. One professor left a lasting mark: the late Dr Ian McGovern who taught Marketing and International Business.

“My favourite modules have influenced who I am and how I think,” she says. “At work, I always remind myself and my team that it’s not about what we personally like. It’s about putting ourselves in the position of the consumer.”

It is a principle she still applies daily, leading a business that spans dozens of markets and hundreds of millions of consumers.   

Rolling up her sleeves

Nicole began her career at The Gillette Company, working in the Oral-B brand team. She covered brand management, as well as distribution aspects of the business, in-store merchandising and retail shelf strategy, learning the business from the ground up.

“I was really rolling up my sleeves to do the job,” she says.

The experience was invaluable, but it also clarified something important - Nicole wanted to be in beauty. She made the move to L'Oréal's consumer products division as brand manager for the colour cosmetics portfolio - a one-person operation managing forecasts, finances, public relations, and trade relationships simultaneously.

“I was dropped in the ocean, and I just had to swim,” she recalls.

She thrived. The autonomy suited her, and the industry energised her. It would not be the last time she would be asked to build from scratch under pressure.

Leading transformation at scale

When Nicole took over as President & CEO of Shiseido Asia Pacific in 2020, she inherited a business that had just undergone structural changes that reduced the business by 40%. She rebuilt it, lifting e-commerce revenue from single digits to over 20% of total revenue, while redesigning the organisation and refocusing the portfolio across brands including SHISEIDO, Cle De Peau Beaute and NARS.

“It’s about understanding what you need to win in different markets while keeping the relevance of a global voice,” she says.

Her leadership philosophy centres on trust and empowerment. “I’ve learnt not to hide behind emails and to have genuine conversations. People care that you care.”

Nicole speaking to attendees of a SHISEIDO initiative, "Lavender Ring Makeup and Photo With Smiles”, where the company provides appearance care support for cancer patients and survivors.

The choices behind her career

Nicole’s path to the top was not linear, and she is candid about why.  

Earlier in her career, she stepped into a local role at a beauty distributor to spend more time with her children. She returned to a regional role at The Estée Lauder Companies, working in travel retail, when the time was right – and when an opportunity arose to be based in Shanghai, the family relocated together. They eventually moved back to Singapore so her eldest son could enlist in National Service.

Each decision was made deliberately, in close partnership with her husband, who is also an NTU graduate.

Despite her and her husband's busy work schedule, they still make time for family vacations with their children.

“Happiness is so important,” she says. “You must be happy to be a good mother, spouse, or daughter. Clear communication with my husband has been vital in making joint decisions for our family and both our careers.”

Nicole was awarded the Nanyang Alumni Achievement Award in 2021 and recognised as one of Fortune’s Most Powerful Women in Asia in 2025.

Advice for the next generation

Nicole’s advice to young graduates is direct: stay open, stay proactive, and own your path.

“Sometimes opportunities do not present themselves to you in the form you expect,” she says. “Don’t be discouraged if you don’t end up working at your ideal company. Be agile. Pivot when opportunities arise.”

“You are at the driving seat of your own career. If you want something, learn the ropes and take proactive steps to get there.”

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