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24 May

Chinese Beauty Giant Proya Fined for Mislabeling Product Concentration

Chinese Beauty Giant Proya Fined for Mislabeling Product Concentration
SHANGHAI — Chinese skincare giant Proya Cosmetics has recently been fined by Hangzhou West Lake District’s Market Supervision Authority for a misleading product description that labeled an antiaging serum as containing the next concentration of lively ingredients than it actually did. Proya Cosmetics claimed Proya’s Elastic Brightening Youth Essence contained “2% ergothioneine” and “1% decarboxylated carnosine” on major social media platforms comparable to Douyin, WeChat Mall and Xiaohongshu. But a test conducted by the local authority showed that the actual concentration was 0.001 percent and 0.1 percent for the 2 ingredients, respectively, in line with the penalty decision. As an entirely owned subsidiary of Proya Cosmetics, Zhejiang Meiligu Electronic Commerce Co. Ltd., which was in command of operating the corporate’s e-commerce business,...
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11 Sep

Chinese Face Mask Giant Syoung Group Invests in Skin

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...
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