Drawing on the huge reach of online retailers like Alibaba and JD.com, at least 10 new Chinese male skincare brands have been set up this year, according to media reports.
Bertelsmann Asia Investments said it has invested in a new Shanghai brand, without saying how much, while others like SIG Asia and Redpoint Ventures have also placed sector bets, according to domestic media reports and startup research database CB Insights. Mr Huang, 31, said sales at Coen - a name that translates to"scientific and grateful" - topped one million yuan in two months via stores on e-commerce marketplaces. A 120 millilitre bottle of its flagship cleanser, Dragon Blood, retails for 64.90 yuan on Alibaba's Tmall platform.
Bertelmann Asia Investments vice-president Cindy Zhu told Reuters her firm has invested in Shanghai-based men's skincare company Just a Cool Brand , set up this year. Ms Zhu said the fund believed the growth momentum in China's cosmetics market would continue.
Source: News Formal (newsformal.com)
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