SHANGHAI — L’Oréal’s China Fund, Shanghai Meicifang Investment, has taken a minority stake in Chinese fragrance brand Documents.

That is Meicifang’s first investment within the China market.

Meicifang’s minority stake marks the closing of Documents’ Series A round investment of greater than $10 million renminbi, or $1.4 million. Cathay Capital’s Consumer Co-Creation Fund also led this round of investment.

The news was unveiled during Shanghai May 5 Shopping Festival’s Global Recent Products Debut Season event today, in keeping with local media reports.

“Documents just isn’t only an emerging pioneer within the Chinese high-end personalized beauty market, but in addition a Chinese fragrance brand popular amongst young Chinese shoppers for its signature oriental aesthetics,” Fabrice Megarbane, president of L’Oréal North Asia and CEO of L’Oréal China, told local media outlets.

Founded in 2021 by former Nudake China chief executive officer Zhaoran Meng, Documents is understood for its “chanku,” or “zen and funky” aesthetic and avant-garde store design.

Dubbed “the most costly Chinese perfume brand,” Documents focused on high-end perfume featuring Chinese ingredients comparable to star anise, mugwood, yulan magnolia and walnut. Perfume prices range from 850 renminbi, or $122, to 1750 renminbi, or $253.

The brand’s clientele is made up of 60 to 70 percent Gen-Z shoppers, the perfume-maker previously told local media outlets.

Documents operates two stores in Shanghai and one shop at Beijing’s popular SKP-S shopping center.

In response to Meng, Documents will use the investment to give attention to talent acquisition, product development, business operations, global expansion and develop into “a global brand.”

Established this May, Meicifang is the world’s largest beauty-maker’s first China-specific enterprise capital fund. The fund is supported by BOLD, Business Opportunities for L’Oréal Development, a fund focused on taking minority stakes in start-ups with high growth potentials.

Before the establishment of Meicifang, L’Oréal acquired Chinese skincare brand Mininurse in 2003 and sweetness brand Yuesai in 2004.