Shang Xia, the Chinese fashion label that Exor acquired from Hermès in 2020, has teamed with C-beauty giant Florasis, known locally as Hua Xizi, on a limited-edition gift box for the Hangzhou-based beauty brand’s sixth anniversary.

Inspired by the standard Chinese tea ceremony, the collector’s set, in the form of Shang Xia’s classic circular gift box, comes with its bestselling setting powder, a pressed powder, a setting spray, a cushion foundation and a pair of white ceramic tea cups.

Florasis, which is thought for well designed and Chinese culture-inspired products and packaging, not only is one of the in-demand local beauty brands in China however it also enjoys a comparatively high level of worldwide recognition due to viral unboxing videos by major beauty influencers equivalent to Jeffree Star, who called Florasis “the world’s most beautiful makeup.”

The brand itself can also be an authority in generating viral short-form videos for platforms like TikTok and Xiaohongshu. Florasis has 1.1 million followers on TikTok and greater than 453,000 followers on Instagram.

The international market is a top priority for the brand. In 2023, Florasis is looking to take a position greater than 20 million renminbi, or $2.9 million, within the Japanese and South East Asian markets and introduce localized product offerings to suit offshore market needs.

Last December, Florasis opened its first brick-and-mortar flagship by the scenic West Lake in Hangzhou, an art gallery-like space to showcase its products and traditional Chinese craftsmanship. The identical store concept was realized on the brand’s pop-up at Tokyo’s Cosme Flagship store this February.

In November, the brand will release a series of cosmetics products exclusively for overseas markets as well.

Shang Xia, meanwhile, is facing a much more difficult outlook.

In response to Exor’s annual report, the brand’s valuation shrank by 20 percent from 84 million euros in 2021 to 67 million euros in 2022, “in consequence of revised expectations in revenue growth to reflect a more cautious and unsure outlook on China’s macroeconomic environment.”

In 2022, Shang Xia reported a discount in revenues of 14 million euros, and a negative EBITDA of 24 million euros. Losses within the period widened to 37 million euros from 10 million euros in 2021.

Within the period, Exor said the foremost revenue driver for Shang Xia was the house category, while fashion is predicted to extend its contribution over time through the launch of recent collections designed by Yang Li, who was appointed fashion creative director in 2021.

The brand also welcomed Sophia Wu as its latest chief executive officer last 12 months to further “explore the exciting opportunities to nurture our brand because it grows.”