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11 Sep

Chinese Face Mask Giant Syoung Group Invests in Skin

SHANGHAI — Syoung Group, a well known Chinese facial mask company, recently announced a ten million renminbi, or $1.4 million, investment in Dermdoc, an Hangzhou-based functional skincare brand.

The seed round funding was announced on Dermdoc parent company Songyang’s official Wechat account.

The investment in Dermdoc underscroes Syoung Group’s ambition within the area of interest skincare space.

Syoung Group, the owner of Uniforn, a successful mass-market facial mask brand, recently acquired the high-end French skincare brand Evidens de Beauté for 49.5 million euros.

Per week prior to the Evidens de Beauté acquisition, Syoung Group took a minority interest in French area of interest skincare brand Pier Augé for 3.5 million euros, which incorporates the acquisition of its China business.

Syoung Group became a publicly listed company in 2018. It’s also a web-based distributor for Western beauty brands similar to Fenty Beauty, Dr. Ci:Labo, Albion, Neutrogena, Kiko and Lumene.

Founded in 2014, Songyang also owns the stretch-mark-prevention brand Awake.

Developed by top Chinese dermatologists and focused on post-cosmetic surgery recovery and pimples treatment, Dermdoc’s product line includes repair creams, masks, lotions and sprays. Prices range from 200 renminbi, or $28, to 400 renminbi, or $58.

The brand relied on pharmacies and hospitals to grow its retail presence. It also operates a web-based shop on Wechat Mini Program. It’s believed that Syoung’s investment will help Dermdoc expand its e-commerce presence.

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