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Louis Vuitton – C-Beauty Brands Kans, One Leaf’s Parent Company Chicmax Mulls IPO | Fintech Zoom

Louis Vuitton – C-Magnificence Manufacturers Kans, One Leaf’s Mum or dad Firm Chicmax Mulls IPO

LONDON — Shanghai Chicmax Beauty Co. Ltd., the mother or father firm of Chinese language magnificence manufacturers Kans, One Leaf, Child Elephant, Bio-G and Hanamino, signed a pre-listing tutoring settlement final week with CITIC Securities Firm Ltd., kicking off the method of taking the corporate public in China.

Chicmax’s chief govt officer and founder Yixiong Lv stated in 2015 that he deliberate to finish the corporate’s itemizing plan in 2018. Nonetheless, within the years since, there was no motion or substantial progress concerning the itemizing. Now, the corporate has lastly taken a considerable step towards an IPO.

Extra from WWD

Based in 2002 with an ambition to turn into China’s family title, the corporate builds consciousness for its star manufacturers Kans and One Leaf by sponsoring standard actuality reveals and doing product placements in hit TV collection.

In 2015, Chicmax signed a record-breaking 500 million renminbi, or $77.3 million, deal to be the only sponsor of the courting actuality present “If You Are the One.” Final yr, its merchandise may very well be seen in hit reveals like “Nothing however Thirty.”

The corporate is thought for hiring probably the most in-demand stars to endorse its manufacturers. Actor and singer Kris Wu, who can also be the face of Louis Vuitton, is the model ambassador for Kans’ facial masks line, whereas actress Tong Liya is the face of the model’s skincare line. The model allegedly paid actor Lu Han, who’s now the face of Gucci in China, 80 million renminbi, or $412.37 million in 2014, to get him to be the face of One Leaf.

Retail analyst Yuezhong Bao informed the native press that behind the launch of Chicmax’s preliminary public providing is the intensification of competitors available in the market and its want for extra capital to maintain its improvement. In actual fact, Chicmax has solely acquired two rounds of funding: a 400 million renminbi angel round in 2015, and a 500 million renminbi fairness financing final October.

With international high-end manufacturers accelerating their presence in China, conventional home beauty manufacturers are reworking and new manufacturers are rising. Chicmax, which depends closely on conventional advertising to drive gross sales, has lagged within the social media period.

Its lack of funding in platforms like Douyin, TikTok’s Chinese language model, Kuaishou, Xiaohongshu and key influencers makes it unable to compete with digitally savvy conglomerates and new gamers like Excellent Diary and Florasis.

To place issues into perspective, throughout final yr’s Singles’ Day buying pageant on Tmall, Estée Lauder, L’Oréal and Lancôme occupied the highest three spots on the skincare rating, with every model turnover exceeding 1.5 billion renminbi, whereas Excellent Diary and Florasis high the beauty rating, racking in additional than 550 million renminbi and 450 million renminbi, respectively.

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Louis Vuitton – C-Magnificence Manufacturers Kans, One Leaf’s Mum or dad Firm Chicmax Mulls IPO

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