HONG KONG, Jan 17, 2023 – (ACN Newswire) – Beauty Farm Medical and Health Industry Inc. ("BeautyFarm Med" or "Company", stock code: 2373.HK), the largest provider of traditional beauty services in China in term of revenue in 2021, successfully listed and commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK") today, with a board lots of 500 shares each. The stock price of BeautyFarm Med reached HK$30.5 at its debut today, representing an increase of 57.9% over the offer price. The share price closed at HK$29.65, up 53.5% and represents a market capitalization of HK$ 6.83billion.
Morgan Stanley Asia Limited, Haitong International Capital Limited and Huatai Financial Holdings (Hong Kong) Limited are the Joint Sponsors to the global offering; Morgan Stanley Asia Limited, Haitong International Securities Company Limited and Huatai Financial Holdings (Hong Kong) Limited are the Overall Coordinators, Joint Global Coordinators, Joint Bookrunners and Joint Managers to the global offering.
The Company states that the listing of BeautyFarm Med in Hong Kong marks a key milestone and unfolds a new chapter in the Company's development. Looking ahead, BeautyFarm Med will strategically expand its service network and marketing channels to enlarge its client base and increase brand awareness. The Company will also further enhance its operational efficiency and client experience by introducing new technologies, equipment and products, and expanding its service offerings. Moreover, the Company will continue to cultivate, recruit and retain high-caliber talent and strengthen its human resources management mechanism; and integrate industry resources and promote the development of industry standards by deepening cooperation with upstream suppliers and sharing its industry and management experience, thereby creating greater value for the clients, shareholders and employees.
Beauty Farm Medical and Health Industry Inc.
Beauty Farm Medical and Health Industry Inc. (stock code: 2373.HK) is a leading player in China's beauty and health management service industry, which has a large and loyal client base, extensive network with expansion efficiency, diversified services and product offerings as well as strong brand awareness. BeautyFarm Med is the largest provider of traditional beauty services and the fourth largest non-surgical aesthetic medical service provider in China with a market share of 0.2% and 0.6%, respectively, as measured by revenue in 2021 and according to Frost & Sullivan. The Company provides overall beauty and health management services through its well-established and widely recognized brand portfolio of BeautyFarm, Palaispa, CellCare and Neology. The service offerings of the Company cover traditional beauty services, aesthetic medical services as well as subhealth assessment and intervention services, across the full client lifecycle.
This press release is issued by Porda Havas International Finance Communications Group for and on behalf of Beauty Farm Medical and Health Industry Inc. For further information, please contact:
Porda Havas International Finance Communications Group
Tel: 852 3150 6788
Email: projectgarden.hk@pordahavas.com
Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com
Tag: Beauty & Skin Care
BeautyFarm Med Announces Global Offering Results, Offer Price of HK$19.32per Share
HONG KONG, Jan 13, 2023 – (ACN Newswire) – Beauty Farm Medical and Health Industry Inc. ("BeautyFarm Med" or "Company", stock code: 2373.HK), the largest provider of traditional beauty services in China, today announced the allotment results of its Global Offering. The Offer Price is HK$19.32 per share. Dealings in the shares of the Company on the Main Board of the Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") are expected to commence on 16 January 2023 (Monday) with a board lot size of 500 shares.
The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have been very significantly oversubscribed. A total of 6,671 valid applications have been received under the Hong Kong Public Offering through the White Form eIPO service and the CCASS EIPO service for a total of 89,670,000 Hong Kong Offer Shares, representing approximately 22.12 times of the total number of 4,054,000 Hong Kong Offer Shares initially available for subscription under the Hong Kong Public Offering. The Offer Shares initially offered under the International Offering have been moderately oversubscribed, representing approximately 4.7 times of the total number of 36,482,500 International Offer Shares initially available for subscription under the International Offering.
The proceeds raised from the Global Offering of shares received by the Company are planned to be used to expand and upgrade the service network, carry out strategic mergers and acquisitions of franchise stores, and further invest in IT systems. The Company stated, through nearly three decades of deep cultivation in the industry and integration of resources, BeautyFarm Med has become a leading player in China's beauty and health management service industry. The official listing on the Hong Kong Stock Exchange marks an important milestone in the history of the development of BeautyFarm Med, opening a new chapter for the Company's development. The outstanding share oversubscription shows the trust and support of global investors for the Company's business development and lays a firm ground for the Company's long-term growth. Looking forward, BeautyFarm Med will continue strategically expanding its service network and marketing channels, introducing new technologies, equipment and products, and expanding its service offerings; continuing to cultivate, recruit and retain high-caliber talent; and integrating industry resources by deepening cooperation with upstream suppliers, thereby continuing to create greater value for the clients, shareholders and employees.
Beauty Farm Medical and Health Industry Inc.
Beauty Farm Medical and Health Industry Inc. (stock code: 2373.HK) is a leading player in China's beauty and health management service industry, which has a large and loyal client base, extensive network with expansion efficiency, diversified services and product offerings as well as strong brand awareness. BeautyFarm Med is the largest provider of traditional beauty services and the fourth largest non-surgical aesthetic medical service provider in China with a market share of 0.2% and 0.6%, respectively, as measured by revenue in 2021 and according to Frost & Sullivan. The Company provides overall beauty and health management services through its well-established and widely recognized brand portfolio of BeautyFarm, Palaispa, CellCare and Neology. The service offerings of the Company cover traditional beauty services, aesthetic medical services as well as subhealth assessment and intervention services, across the full client lifecycle.
This press release is issued by Porda Havas International Finance Communications Group for and on behalf of Beauty Farm Medical and Health Industry Inc. For further information, please contact:
Porda Havas International Finance Communications Group
Telephone: 852 3150 6788
Email: projectgarden.hk@pordahavas.com
Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com
Beauty Farm Medical and Health Industry Inc. Announces Proposed Listing on the Main Board of SEHK, Offer price at HK$19.32 per share
HONG KONG, Dec 30, 2022 – (ACN Newswire) – Beauty Farm Medical and Health Industry Inc. ("Beauty Farm" or "Company", stock code: 2373), the largest provider of traditional beauty services in China, today announces the proposed listing of its shares on the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK").
Beauty Farm plans to offer an aggregate of 40,536,500 Offer Shares under the Global Offering (subject to the Over-allotment Option), consisting of 36,482,500 International Offer Shares (subject to reallocation and the Over-allotment Option) and 4,054,000 Hong Kong Offer Shares (subject to reallocation), at a price of HK$19.32 per share.
The Company will start its public offering in Hong Kong at 9 a.m. on 30 December, 2022 (Friday) and end at 12 noon on 6 January, 2023 (Friday). Dealings in shares on SEHK are expected to commence on 16 January 2023 (Monday), with the stock code of 2373 in board lots of 500 shares each.
Morgan Stanley Asia Limited, Haitong International Capital Limited and Huatai Financial Holdings (Hong Kong) Limited are the Joint Sponsors; Morgan Stanley Asia Limited, Haitong International Securities Company Limited and Huatai Financial Holdings (Hong Kong) Limited are the Overall Coordinators, Joint Global Coordinators, Joint Bookrunners and Joint Managers.
Beauty and health management service provider with diversified brand portfolio in China
Beauty Farm is a leading player of the chain service brand in China's beauty and health management service industry, which has large and loyal client base, extensive network with expansion efficiency, diversified services and product offerings as well as strong brand awareness. According to Frost & Sullivan, Beauty Farm is the largest provider of traditional beauty services and the fourth largest non-surgical aesthetic medical service provider in China with a market share of 0.2% and 0.6% respectively, as measured by revenue in 2021. The Company provides overall beauty and health management services through its well-established and widely recognized brand portfolio of BeautyFarm, Palaispa, CellCare and Neology. The service offerings of the Company cover traditional beauty services, aesthetic medical services as well as subhealth assessment and intervention services, across the full client lifecycle. As of June 30, 2022, the overall service network of Beauty Farm comprised 352 stores, including 177 direct stores and 175 franchised stores. Among the direct stores, 84 stores were located in tier-one cities and 73 stores were located in new tier-one cities.
Constant evolution of business model in response to market demand, offering clients overall beauty and health management services
As the leading chain brand in China's beauty and health management service industry, Beauty Farm has provided traditional beauty services to clients for nearly three decades. With insights into clients' increasingly diversified demand accumulated through years of services, the Company has extended its offerings by providing more sophisticated services such as aesthetic medical services since 2011. Thereafter, the Company commenced to build its subhealth assessment and intervention service capacity in 2018, in response to the rising demand of subhealth assessment and intervention services as a result of consumption upgrade and China's rising prevalence rate of subhealth status. Counting the revenue generated in 2021, traditional beauty services, aesthetic medical services, and subhealth assessment and intervention services represented 58.8%, 37.8% and 3.4% of the total revenue for the year. These service offerings of Beauty Farm complement each other and create a synergistic effect for the overall operations of the Company. The Company's long history in traditional beauty services has positioned the Company uniquely in the industry and fueled the revenue growth without significant increase in customer acquisition costs as the Company has become many members' lifelong trusted advisor on health and beauty. And 21.7% and 21.2% of members of the Company's traditional beauty services in 2021 and the six months ended June 30, 2022, respectively, purchased aesthetic medical services or subhealth assessment and intervention services, which is expected to further grow in the future. Likewise, the expansion of aesthetic medical services and subhealth assessment and intervention services can also further boost the growth of traditional beauty services going forward.
Standardized services supported by digitalized platform
Beauty Farm has established an integrated service platform to ensure high-quality services to its clients in a consistent manner across all stores. The digitalized platform of the Company is supported by standardized operating procedures and digital infrastructure covering stringent quality control, training system and supply chain management. The Company achieved one of the few highest service personnel annual retention rates in 2021 within the beauty and health management service industry. Among all the service personnel who have stayed with us for more than one year, they have an average of 6.1 years of retention. The standardization and digitalization of the business platform provides scale advantages across various aspects of the Company's operations that can be leveraged by its stores and service personnel. The integrated service platform is capable of consolidating and processing operational data accumulated from various systems across the store network. The Company also applies data mining and data analytics to obtain valuable insights to profile its clients' transaction patterns, consumption habits, and lifetime client value. Such tech-enabled enhancements allow the Company to customize its services according to clients' needs so as to maintain their stickiness and identify cross-selling opportunities. The platform-based operating model allows Beauty Farm to standardize various aspects of its operations to improve both client experience and the service performance of its service personnel. In addition, as the Company continues to accumulate and analyze digital information from its day-to-day business operations, the Company can further improve its operational efficiency.
A large client base of active members supported by CRM system
The comprehensive service offerings of Beauty Farm have attracted a large base of active clients, which is supported by a comprehensive client service system. In 2021, the direct stores of the Company served 77,356 active members, which was increased by 12.5% in 2020. The active members from direct stores on average made 10.8 visits (2020: 10.2 visits) and spent RMB20,832 in 2021 (2020: RMB20,151). 80.7%, 82.1%, 84.6% and 77.0% of the active members in 2019, 2020, 2021 and the six months ended June 30, 2022 made multiple purchases of the Company's services in the same period, respectively. In addition to the increasing client volume in direct stores, the franchised stores of the Company served 27,916 active members in 2021 and 22,552 active members in the six months ended June 30, 2022.
Sustainable development supported by organic growth and strategic acquisitions
Beauty Farm has a proven track record of rapidly expanding its geographic footprint across China and has achieved rapid and sustainable business growth through both organic growth and strategic acquisitions. The scalability and replicability of its business is evidenced by its ability to open new stores rapidly. The Company opened 45 new direct stores from 2019 to June 30, 2022. Beauty Farm is able to ramp-up its new stores and achieve profitability efficiently. Contributed by the Company's long-term business relationship with prime shopping malls and the ability to bring strong footage to the venue, the typical lead time from the completion of site selection to store opening is approximately three months. From 2014 to June 30, 2022, a new traditional beauty service store on average achieved initial breakeven in eleven months after commencement of operation.
Beauty Farm experienced a successful track record of identifying, acquiring and integrating stores into its network. The Company has completed 20 acquisitions in beauty and health management service industry from 2014 to June 30, 2022, most of which have successfully enhanced the Company's business offerings and management team. Upon the completion of integration, acquired stores typically witness improved business performance and rapid client expansion. For example, the acquisition of Palaispa shows the Company's acquisition power and capabilities in integration. Revenue generated from Palaispa members and franchisees increased from RMB102.4 million in 2017 to RMB185.7 million in 2021 at a CAGR of 16.0%. Those acquired stores were smoothly integrated into the Company's network, ensuring further synergies and value creation. Going forward, Beauty Farm will continue to identify and evaluate acquisition opportunities in high-quality stores to capture growth opportunities.
The success of Beauty Farm is also attributable to its visionary and dedicated management with extensive industry experience, as well as strong shareholder support. Since 2013, CITIC PE, who has extensive experience managing and growing companies in the beauty and health management service industry, has been working closely with Beauty Farm to establish a standardized and disciplined chain business with nationwide footprint and has made important contributions to the company's strategic formulation, merger and expansion, executive recruitment, brand and design, human resources, supply chain, marketing, finance and other aspects of management improvement.
Looking forward, Beauty Farm plans to carry out below key growth strategies to realize its development, including strategically expanding its service network and marketing channels to expand its client base and increase brand awareness; further enhancing its operational efficiency and client experience through standardization and digitalization of its system; improving client loyalty and fulfilling clients' evolving needs by introducing new technologies, equipment and products, and expanding its service offerings; continuing to cultivate, recruit and retain high-caliber talent and strengthen its human resources management mechanism; and integrating industry resources and promoting the development of industry standards by deepening cooperation with upstream suppliers and sharing its industry and management experience.
Beauty Farm Medical and Health Industry Inc.
Beauty Farm Medical and Health Industry Inc. ("Beauty Farm" or "Company", stock code: 2373) is a leading player in China's beauty and health management service industry, which has large and loyal client base, extensive network with expansion efficiency, diversified services and product offerings as well as strong brand awareness. According to Frost & Sullivan, Beauty Farm is the largest provider of traditional beauty services and the fourth largest non-surgical aesthetic medical service provider in China with a market share of 0.2% and 0.6% respectively, as measured by revenue in 2021. Leveraging 29 years of industry experience and adapting to evolving client demand, the Company provides overall beauty and health management services through its well-established and widely recognized brand portfolio of BeautyFarm, Palaispa, CellCare and Neology. The service offerings of the Company cover traditional beauty services, aesthetic medical services as well as subhealth assessment and intervention services, across the full client lifecycle.
This press release is issued by Porda Havas International Finance Communications Group for and on behalf of Beauty Farm Medical and Health Industry Inc. For further information, please contact:
Porda Havas International Finance Communications Group
Telephone: 852 3150 6788
Email: projectgarden.hk@pordahavas.com
Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com
NUNMN and Nulab Technology LTD. Supplements Opening Their Online Store to the Hong Kong Market
HONG KONG, Dec 7, 2022 – (ACN Newswire) – NUNMN, part of Nulab Technology Ltd., is a rapidly-expanding company in Canada that offers 99.5% pure NMN supplements and they are now available in the Hong Kong market. Previously only sold throughout Canada and the US, Nulab Technology LTD has decided to expand its sales and provide NMN supplements to customers in Hong Kong, as an entry point to the Asian market.
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During a recent interview, Nulab Technology LTD president Alan M. had this to say: ''Each year, the supplement receives a high volume of new users from all corners of the world. We have had inquiries from Asia, Africa, Europe and South America, Oceania & North America. All our products are authorized by Health Canada as they improve health performance and meet consumer demands. Hong Kong is just part of the second phase of our global expansion plan!"
According to Alan M., NUNMN and Nulab Technology LTD's recent expansion is only the start. They have already initiated market research to gain a foothold in the European and South American markets as well.
Nulab Technology LTD's president said that originally starting in Canada as a health supplement supplier, they have now reached customers all over the world with their global network and website.
Now that they have consistent customers in Canada and that the US market is growing, they have brought the business to a point where expanding makes even more sense. After months of research, testing, and preparation, they are officially opening their online store to the Hong Kong market.
About NUNMN & Nulab Technology LTD
NUNMN is a leading beauty and wellness company with offices in Canada, the US, and soon in Hong Kong. They are committed to redefining wellness and chronological age in terms of biological age.
David Sinclair, Professor of Genetics at Harvard Medical School, discovered that NMN (99.5%) can be widely consumed to improve health and metabolism, and brain function as well as cardiovascular improvement.
The nicotinamide mononucleotide (NMN) molecule is converted into the vital and well-known chemical compound nicotinamide adenine dinucleotide (NAD+). The human body uses NAD+ to fuel a plethora of processes, including DNA damage repair, energy production, and boosting immunity. Therefore, it aids in maintaining high metabolism and keeping overall bodily functions healthy.
Media Contact:
Alan M.
Email: hello@nunmn.com
Website: https://nunmn.com/zh/
Phone: 1(888) 666-6851
Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com
The Executive Talk by ShareInvestor: Boutique Corp PCL (SET: BC)
BANGKOK, Nov 28, 2022 – (ACN Newswire) – Boutique Corporation PCL (SET: BC) President and Group CEO, Mr. Prabsharan Singh Thakral provided an admirable interview regarding his business strategy after Covid-19, diversification and embracing digital technology is the strategic approach for Boutique Corporation to remain resilient.
1. Against a challenging business environment significantly impacted by the Covid-19 pandemic, what's your view toward the Thai hospitality and commercial industry this year and in 2023?
The COVID-19 pandemic has been one of the major challenges for Thailand's beauty industry and our company. We must refine our strategies and business plans to cope with the ever-changing market and rapidly changing consumer behavior.
Regarding the long-term strategy, we aim to increase our top line to 3,000 million baht by 2026. Our focus remains on beauty and health products, such as skincare, makeup, hair color, and food supplements, which align with the company's vision and mission: To be Asia's leading beauty and health company by creating the best innovation to fulfil everyone's demand and inspiring people across Thailand and Asia.
2. Against a challenging business environment significantly impacted by the Covid-19 pandemic, what's your view toward the Thai hospitality and commercial industry this year and in 2023?
This year, we begin to see a recovery in tourism, with approximately 10 million tourists coming into the country. We see India as a large component of tourists coming to the country, with about 1 million travellers forecast for the end of this year. We see, toward the end of next year, perhaps the normalization of tourism in this country. But, of course, we also have to wait until China opens up for tourism.
Meanwhile, we should look for other opportunities instead of focusing on China. These whole few years have taught us that we should begin to penetrate new markets. Currently, we have an excellent new market like Saudi coming in. We should focus on and harness the demand from other large markets like India so that our economy relies on something different than a single market like China. Our marketing activities for tourist companies or Thailand Tourism Authority (TAT) should bear that in mind as we come out of Covid.
3. As the property development company, how has Covid impacted your business, and how is it currently going?
Yes, our main business is building property for existence. That continues during Covid. We were very successful last year in existing an asset in Sukhumvit Soi 23 at the pre-covid valuation. We have just completed Oakwood Sukhumvit Soi 36, a hotel by the Thong lor BTS station, opening on the first of October. Even before its first month of full operation, we had a buyer coming and signing a sale agreement with us, buying it at the valuation as well. This business continues.
However, the industry and, of course, Boutique Corporation were affected by the disrupted cash flow coming through the hotel. So, Covid has been a learning for many business leaders. One of the things I saw to undertake during Covid was to embrace diversification, ensuring that after Covid, we would have multiple business lines that have synergistic approaches with our current business.
4. Boutique corporation has expanded the ecosystem into logistics and healthcare. How have they turned out so far?
The first business we decided to expand into was cannabis and wellness associated with cannabis. From growing our high medical-grade cannabis to the dispensary, we are ultimately the country's first fully licensed value-chain cannabis key provider. We currently have two dispensaries, the first one at Sukhumvit Soi 16, in one of our properties. So, this is the synergistic approach. And here, at the Summer Point Mall, our second dispensary, which represents our wellness concept. We can issue a prescription for oil and cannabis medicine based on traditional Thai formulas. As a result, the cannabis-related healthcare business is one of the diversifications we undertook to ensure that we, as a company, are sustainable and more resilient.
5. What are your key strategies for the next year?
For cannabis, we see solid sales in our dispensaries, high demand for premium-grade and high-quality medical-grade cannabis dry flowers, and an increase in repeat customers who enjoy the quality and comfort of our pure and toxin-free cannabis. In addition, we are confident in our products and service because they were all tasted by the ministry of health. Ultimately, we aim to accelerate our rollout and expand the business to 20 outlets within the following year.
The second diversification we recently undertook is a self-storage and the logistics of door-to-door delivery from storage. Again, the business is new and has just opened this month. And we already begin to see good demand for self-storage. So, we aim to drive growth in this unit as well.
And, of course, we do foresee that hospitality will come back, so we continue to develop assets for the existing. Next year we are looking at developing Sukhumvit Soi 5, one of our pipeline's assets. We are preparing to establish another retail development on Charoenkrung road, in front of the Shrewsbury International School. And other projects that we have in our pipeline.
6. Amid the growing digital economy, how has it affected your company?
There are two aspects of the digital economy and how it affects the company. One is how we apply digital technology at work, and two is embracing it within our businesses. For the former, the way we work, such as working from home and using online platforms for a meeting. We all have already familiar with the technology and work in a hybrid way. We ensure that our company is tech-savaged enough to embrace that.
However, what is more important is how we embrace new technology to create a synergistic effect with our business. Hence, in February this year, we launched our first NFTs linking to cannabis. They were limited and connected to every single seed plant we grew on our cannabis farm. Buyers of these NFTs effectively received a utility over our cannabis platform, either to get discounts or special access. This exemplifies how we synergize emerging technology like blockchain with our businesses. So, we also corporate those synergistic approaches with our other business units, such as hospitality, real estate, and self-storage, that we are expanding right now.
7. How do you envision your business in 5 years? How have you embraced the sustainability concept?
Despite the Covid situation, building and selling assets continues to have good demand, especially in a good location. In October, we opened our first third-party-managed hotel under our brand "Jono", which is in Karon beach, Phuket. So, we will drive and grow this business exponentially. For the sustainability part, over the next five years, we will continue to ramp up the growth of our cannabis outlet across the Thai market, mainly tourists, ex-pats, and the high entire. We will also grow our self-storage, logistics, and hospitality business. So, there are many opportunities that we can diversify our ecosystem, create synergistic approaches, and remain resilient.
Watch Executive Talk by ShareInvestor on YouTube ShareInvestor Thailand
https://www.youtube.com/watch?v=IdeXSZwRPM8&ab_channel=ShareInvestorThailand
About The Executive Q&A Series
The Executive Q&A Series is presented by ShareInvestor, Asia's leading financial internet media and technology company and the largest investor relations network in the region. For more information, email admin.th@shareinvestor.com, and visit our Website: www.ShareInvestorThailand.com.
Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com
L’Oreal Groupe, together with Hotel Shilla and Anchor Equity Partners, launches SHIHYO, a newly created luxury beauty brand
SHANGHAI, Nov 21, 2022 – (ACN Newswire) – L'Oreal Groupe, together with Hotel Shilla and Anchor Equity Partners, is launching a newly created luxury beauty brand 'SHIHYO' through Loshian, a third-party joint venture. This is the first time L'Oreal is launching a new beauty brand through a joint venture.
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SHIHYO, which means "the wisdom of time," is a newly created skincare beauty brand inspired by the Asian wisdom of the 24 seasons. SHIHYO embodies the healthy energy of nature, powered by herbal sciences.
The new brand is based on the naturality of 24 herbal ingredients harvested at the peak of each season, combined with proven efficacy based on scientific research and innovation. All formulas include the signature ingredient called ShiHyo24, a patented, nutrient-rich concentrate of the 24 herbal ingredients infused with fermented rice water and ginseng water.
SHIHYO offers 24 different types of ampoules featuring 24 herbal ingredients, along with other skincare products such as facial cleanser, essence, and cream, as well as scalp care products such as shampoo and conditioner.
SHIHYO leverages L'Oreal's longstanding beauty expertise, Hotel Shilla's luxury retail channels, and Anchor's robust financial business model. SHIHYO's 1st flagship store, the "Seoul Garden," will open in the coming months at The Shilla Seoul Hotel in Korea, with the ambition of engaging with consumers and offering an immersive experience with an extensive luxury beauty product range.
Cyril Chapuy, President of L'Oreal Luxe, said, "L'Oreal LUXE is very pleased to announce the launch of SHIHYO through a partnership with Hotel Shilla and Anchor Equity Partners. Rooted in an exceptional traditional wisdom and knowledge of naturality, SHIHYO represents the epitome of Asian luxury beauty. Empowered by science, SHIHYO delivers the highest skincare quality thanks to its signature patented ingredient, offering the most elevated luxury beauty experience."
In-Gyu Han, COO of Hotel Shilla, said, "SHIHYO is a luxury beauty brand that brings out the best of naturality and efficacy with seasonal ingredients directly sourced from local farmers in Korea. With our rich retail expertise married with L'Oreal's strong brand building capabilities, we believe SHIHYO will elevate the desire for natural, luxury beauty in Asia."
Sanggyun Ahn, Managing Partner of Anchor Equity Partners, said, "We are glad to join this partnership to support the growth of the most unique brand in Asia and globally. We have full confidence that SHIHYO will meet the discerning consumers' needs with new luxury beauty routines."
About L'Oreal Groupe
For over 110 years, L'Oreal, the world's leading beauty player, has devoted itself to one thing only: fulfilling the beauty aspirations of consumers around the world. Our purpose, to create the beauty that moves the world, defines our approach to beauty as inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 35 international brands and ambitious sustainability commitments in our 'L'Oreal for the Future' programme, we offer each and every person around the world the best in terms of quality, efficacy, safety, sincerity and responsibility, while celebrating beauty in its infinite plurality.
With 85,400 committed employees, a balanced geographical footprint and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies, hair salons, branded and travel retail), in 2021 the Group generated sales amounting to 32.28 billion euros. With 20 research centers across 11 countries around the world and a dedicated Research and Innovation team of over 4,000 scientists and 3,000 tech professionals, L'Oreal is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse. More information on https://www.loreal.com/en/mediaroom
About L'Oreal North Asia Zone
L'Oreal North Asia Zone was established in 2021 as L'Oreal Groupe regrouped the geographical scope of its zones to give greater coherence to consumer behaviour and to create synergy within the region. The North Asia Zone comprises of five geographically and culturally connected markets of Mainland China, Hong Kong, Taiwan, Japan and South Korea.
L'Oreal North Asia Zone is the second largest region within the Group, accounting for 30.5% of the Group's global sales in 2021. Situated in the most beauty intense region with more than one-third of the world's total beauty consumers, L'Oreal North Asia shapes the future of beauty with its innovation centers in Shanghai, Tokyo and Seoul, while investing in beauty tech transformation as one of the three beauty tech hubs globally. Here, our mission is to strategize, create and activate a powerful ecosystem around the North Asia Beauty Triangle as a competitive edge to unleash sustainable growth for all and inspire the world.
Media contact:
Linda YAN / linda.yan@loreal.com
Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com
Giant Biogene has Entered Offering Stage: China’s Leading Skin Treatment Company with Annual Profits of More Than RMB800 Million
HONG KONG, Oct 26, 2022 – (ACN Newswire) – With the improvement of people's consumption level and the change in consumption concept, beauty and skincare have become a daily necessity, and the beauty and health industry has ushered in a stage of rapid development. Especially in recent years, many local Chinese brands have rapidly emerged as popular brands among young consumers.
Among them, Giant Biogene is a leader in the bioactive ingredient-based professional skin treatment product industry in China and is the second-largest professional skin treatment product company in China in terms of retail sales in 2021. The Company has officially entered the offering stage in the Hong Kong stock market, adding another high-quality investment target in the biotechnology field, and being the first listed company in collagen.
Proprietary recombinant collagen technology builds core strengths with strong performance growth
In the field of skincare, collagen has been expanding its market share due to its favourable skin regeneration and anti-aging properties. Due to the obvious advantages of recombinant collagen over animal-derived collagen, the market size of functional skincare products based on recombinant collagen is expected to reach RMB64.5 billion (in RMB, the same below) by 2027, surpassing hyaluronic acid to become the top functional skincare product.
In 2000, Giant Biogene developed its proprietary recombinant collagen technology, the first one in the field to be awarded a patent in China. Subsequently, the Company successfully industrialized the technology and became the first company to achieve mass production of recombinant collagen-based skincare products globally. The proprietary recombinant collagen technology has enabled the Company to build a solid barrier in the collagen skincare market and stand out in the fierce market competition. Giant Biogene has been the largest collagen-based professional skin treatment product company by retail sales in China for the latest three consecutive years since 2019.
According to the prospectus, from 2019 to 2021, Giant Biogene achieved revenue of RMB957 million, RMB1.191 billion and RMB1.552 billion respectively, with a compound annual growth rate of 27.39%; in the first five months of 2022, the Company achieved revenue of RMB723 million, representing a year-on-year increase of 38.9%, and continued to maintain an accelerated growth trend. In terms of profitability, Giant Biogene also performed well. In 2019, 2020, 2021 and the first five months of 2022, the net profits of the Company amounted to RMB575 million, RMB826 million, RMB828 million and RMB314 million respectively, representing solid growth.
Keeping recombinant collagen technology as the thread and expanding product portfolio on an ongoing basis
With proprietary recombinant collagen as the common thread of its product branding, Giant Biogene has built up a vast portfolio of professional skin treatment products, which generates spill over effects to the branding of other non-collagen-based products. The Company currently owns eight main brands, including Comfy, Collgene, Keyu, Kehen, Kefuping, Leeyen, SKIGIN and Shengan, covering functional skincare, medical dressings, and functional foods.
"Collgene" and "Comfy", the flagship brands of Giant Biogene's recombinant collagen products, were ranked as the third and fourth best-selling professional skin treatment brands in China in 2021, respectively. As of 31 May 2022, the sales of Comfy reached RMB428 million and the sales of Collgene reached RMB238 million, representing an increase of 62.9% and 18% over the same period in 2021, respectively, and accounting for 59.2% and 33.0% of total revenues, respectively.
In addition to the recombinant collagen technology, Giant Biogene has developed and produced several types of rare ginsenosides using its proprietary biomanufacturing technologies and is currently one of the largest recombinant collagen and rare ginsenosides companies globally in terms of manufacturing capacities. The Company's "SKIGIN" is a high-end skin repair brand based on rare ginsenoside technology.
Furthermore, by expanding product types, Giant Biogene is able to advance its technologies to enter into new product categories to expand its customer reach. Among its self-developed product pipeline, the Company has three Class III medical device products in clinical trials and expects to obtain Class III medical device registration certificates in the first quarter of 2024. From the current clinical trial results, these products are more effective than the control group products, which is expected to drive the injectable products to become one of the main growth areas of the company in the future.
From the medium to long-term perspective, China's skincare market will grow rapidly and consumers will pay more attention to functional products. Giant Biogene has taken the lead in the market with its unique technological advantage. With the continued expansion of its product portfolio, the Company will capture the growth opportunities in the functional skincare market, strive to increase its market share to support the long-term rapid growth of its business, and fully release its long-term value.
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