In an exclusive multiyear retail partnership, Ushopal, China's leading vertically integrated premium beauty investment and brand group, is bringing REN Clean Skincare to retail in China through its owned luxury beauty retailer, Bonnie & Clyde. The Unilever-owned premium beauty brand has been the vanguard of clean skincare since its launch in 2000. Bonnie & Clyde provides the brand with a high-touch retail environment to engage avid Chinese skintellectuals.
Armine Karagorian, REN Clean Skincare International Head, shared, "We are delighted to work with Bonnie & Clyde who are uniquely able to create a physical in-store experience that brings the brand's DNA to life and allows consumers to explore the brand's many benefits."
Known for its immersive storytelling and experiential retail, Bonnie & Clyde is the vanguard of luxury beauty retailing in China, meeting the discerning consumer's demand for curated discovery and storytelling through a multidimensional in-store experience.
William Lau, Bonnie & Clyde's CEO, sees tremendous growth potential for the brand "amongst our avid and discerning gen Z and millennial shoppers who put a premium on clean proven skincare benefits and are excited by how we bring a brand's DNA to life through immersive retail storytelling."
Doubling their store count to over 12 top-tier retail locations in China's leading luxury malls, with storefronts next to the who's who of global brands including Chanel, Hermès, and Dior, Bonnie & Clyde is uniquely positioned to drive discovery of REN to a larger audience of avid beauty shoppers across China.
The beauty retailer boasts an exclusive mix of luxury and premium brands including Chantecaille, Natura Bissé, Argentum, Anastasia Beverly Hills, Suqqu, Juliette Has A Gun, and now, REN. In two short years, Bonnie & Clyde has emerged as a breakout leader in the Chinese luxury retail space. Today it commands the highest unit price points in luxury beauty retail by leveraging an ecosystem of 28- to 34-year-old luxury consumers, propelling Bonnie & Clyde's GMV to $20 million, but they are just getting started.
Lu Guo, Ushopal's founder, and CEO, has a more ambitious vision for the luxury beauty group. "Our vision has always been to build the leading luxury beauty brand group in China that gives Chinese consumers the opportunity to experience the very best global brands and with this exclusive retail partnership we are building on our vision."
Ushopal is on the fast track to becoming a beauty unicorn. With an IPO in the works, and a successful track record as investor and omni-brand channel growth operator. Ushopal is uniquely positioned to continue executing against its strategy to invest in, operate, and scale luxury beauty brands by connecting them with highly engaged Gen Z and millennial beauty communities.
In 2020, together with Cathay Capital, Ushopal completed the first equity financing of niche fragrance brand Juliette Has A Gun, and, most recently, completed a strategic investment in Japan's leading DTC men's skincare brand Bulk Homme and London-based Argentum Apothecary.
Building on their successful track record, continued strategic investment is paramount. In 2021, Ushopal completed a Series D round in 2021, raising nearly $100 million to accelerate brand growth, create brand value, expand core operational capabilities, and improve profitability through acquisitions and investment in infrastructure, digital marketing, and online and offline retail capabilities.Armed with capital, Ushopal is actively shopping for luxury brand investments to deploy capital and unlock brand value in mainland China.
“Our focus as a brand group is in developing the next generation of luxury beauty brands with purpose-driven founders. All the brands we work with share a common purpose of conscious, safe beauty, and cater to the digitally savvy millennial and gen-Z communities. We target mid-sized brands with turnover between $10-50M that have demonstrated consistent growth and strong IP technology. Consumers today around the world are looking beyond products to brands that embody values with which they identify. Since our inception, we have been unwavering in our commitment to these principles,” says Lu.
Ushopal's proven track record investing in, operating, and scaling market-leading beauty brands is testimony to this commitment.
