New York–listed Yatsen Holding Limited, the parent company of C-Beauty unicorn Perfect Diary, has entered into a definitive agreement to acquire prestige skincare brand Eve Lom from Manzanita Capital.
WHO: Founded in 1985 by the renowned facialist Eve Lom, the brand’s eponymous skincare collection is centered on the belief that the secret to radiant skin begins with the perfect cleanse. In the 35 years since the launch of the iconic Eve Lom Cleanser, the brand combines high-quality natural ingredients with the latest scientific innovations to create a portfolio of luxurious and effective products. Eve Lom is sold through a global distribution network with notable strength in Asian markets, and with e-commerce channels the brand has built a loyal following worldwide.
Manzanita Capital is a specialist investor focused on developing luxury and premium beauty companies into enduring global brands. Unconstrained by strict investment horizons, its long-term perspective is backed by patient family capital.
Yatsen, founded in 2016, is a leader in the rapidly evolving China beauty market. With three fast-growing, successful color cosmetics and skincare brands—Perfect Diary, Little Ondine, and Abby’s Choice—Yatsen serves over 20 million consumers in China. Through a digitally native and technology-driven omni-channel direct-to-consumer business model that is new to China’s beauty industry, the company focuses on deep customer engagement, innovative product development, and personalized services.
WHY: Yatsen is executing on plans to use the proceeds from the IPO for potential strategic investments and acquisitions.
IN THEIR OWN WORDS: “We are delighted to welcome the globally beloved Eve Lom brand into our brand portfolio. Eve Lom is one of the best performing skincare brands famed for its profound brand heritage and unique formulas that combine luxury with high-performance results. The brand has developed an incredibly loyal following driven by its hero products such as the Eve Lom Cleanser and demonstrated resilient sales and profitability even during COVID-19. We are excited to welcome Eve Lom’s passionate team with diverse international background in the fashion and beauty industry to enrich our global brand building capabilities and product offerings,” said Jinfeng Huang, founder, Chairman, and CEO of Yatsen.
Andras Szirtes, Managing Partner of Manzanita, added, “Eve Lom has been part of the Manzanita family of brands for nearly 20 years and together we have been on an incredible journey of growth. We are proud to have watched Eve Lom’s development from a niche brand into a global business with a presence across North America, Europe, and Asia. We are very excited about the opportunity to partner with Yatsen. We are convinced that Yatsen’s strong roots with Asian consumers, exceptional e-commerce capabilities, and proven track record of innovation will further accelerate Eve Lom’s growth.”
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