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April 30, 2021
April 30, 2021
Trustar Capital

Trustar Capital (formerly known as CITIC Capital Partners, a private equity affiliate of CITIC Capital Holdings Limited) has completed its investment in Yifei Group.

WHO: Founded in 2010, Yifei Group is a leading online business service provider in the beauty and personal care sector. The business plays a vital role in the ecosystem, providing complete solutions to small and medium beauty and personal care brands. Services include brand incubation, marketing and promotion, online shop operation, and channel and fulfillment management, and covers all the major ecommerce and social media platforms. It also provides education and one-stop-shop service for hundreds of thousands of sellers, enabling them to start business and serve their respective consumers in the space. In addition, the company operates Taomeizhuang (or TMZ) Association, which is one of the most influential operating platforms in the market.

Trustar Capital is a private equity affiliate of CITIC Capital Holdings Limited. Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over $36 billion of capital across 90 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 150 portfolio companies that span 11 sectors and employ over 800,000 people around the world.

WHY: Trustar Capital believes in the long-term growth prospects of the beauty and personal care, lifestyle sector and represents the ninth investment in what will continue to be a key investment theme.

IN THEIR OWN WORDS: Weiqing JIAN, founder and CEO of Yifei Group said: “Since founding, we have been providing innovative, top-notch services to brands and small business owners, becoming an indispensable business partner to them. With the strong support from Trustar Capital, we have full confidence in strengthening our leading role in the sector, making it easy for brands and sellers to do business in the beauty space.”

Hanxi Zhao, Senior Managing Director and Managing Partner of Trustar Capital, said: “The vigorous growth and complexity of the online beauty space in China makes it critical for brands to find trustworthy and capable channel partner. Yifei has established itself as a preferred partner that connects the brands and the seller network, and eventually consumers. The service it provides is an integral part of the ecosystem. We are delighted to be working with the young and passionate entrepreneurial team from Yifei, and are excited to support them to continue to grow with the overall beauty and personal care market.”


  • Trustar Capital (formerly known as CITIC Capital Partners, a private equity affiliate of CITIC Capital Holdings Limited) has completed its investment in Yifei Group.
  • Trustar Capital’s investments in beauty and wellness sector include skincare brands Erno Laszlo and Trilogy, Axilone, a world-class cosmetics packaging provider; UCO, an e-commerce service provider serving premium beauty brands, ScentAir, a scent marketing solutions provider; Reclassified, a leading Chinese prestige perfume and home fragrance brand; Lifestyles/Jissbon and Lelo, leading global brands in the intimate wellness sector.
  • PricewaterhouseCoopers and Haiwen & Partners provide financial and legal advisory services to Trustar Capital respectively.

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