Shanghai-based Chando Group has completed its first-ever financing round, raising over 700 million RMB from L’Oréal and Jiahua Capital. This strategic capital injection places Chando’s post-investment valuation at approximately $7.14 billion RMB ($1 billion), making it a newly minted Chinese beauty unicorn.WHO: Founded in 2001, Chando Group has evolved into a comprehensive enterprise that encompasses independent raw material sourcing, R&D, and manufacturing, with a fully integrated digital operating system and efficient direct-to-consumer (DTC) channels. Leveraging its robust capabilities, the company has expanded its portfolio to include multiple brands, such as Chando, Perfection Research, Chunxia, Meisu, and Jichu, covering a wide range of product categories including skincare, cosmetics, personal care, men's grooming, and baby care.WHY: The investment will support the company's growth, digital transformation, and preparation for an upcoming IPO.IN THEIR OWN WORDS: As Harvest Capital's founding partner and chairman, Alan Song Xiangqian, stated, "Consumption is the stabilizer and ballast of China's economy. We remain confident in the long-term growth potential of beauty brands and are committed to supporting Chinese companies like Chando, which are driven by technology, digitalization, and long-term vision, to become world-class national brands."DETAILS:Shanghai-based Chando Group completed its first-ever financing round since its founding more than two decades ago by Zheng Chunying. The round includes a significant 300 million RMB ($42.1 million) investment from Jiahua Capital and an additional 442 million RMB ($61.