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12 Oct

Ushopal Has Acquired Argentum Apothecary – WWD

PARIS ­— Chinese omnichannel brand partner Ushopal has acquired luxury clean British beauty brand Argentum Apothecary.

Financial terms of the deal weren’t disclosed.

Shanghai-based Ushopal, which is billed to be China’s leading luxury beauty brand group, makes a speciality of scaling Gen Z-focused luxury brands in the wonder and wellness space. It formerly had a minority stake in Argentum.

The rhythm of investments in clean beauty labels has picked up within the recent past, as consumers increasingly hunt down products which can be transparent and have well-being attributes. A few of the deals within the last 12 months include Amorepacific’s purchase of Tata Harper Skincare; the Courtin family holding, Famille C, acquiring Ilia Beauty, and L’Oréal’s buying Youth to the People.

Ushopal built Argentum right into a top-three Gen Z luxury beauty brand in China in 12 months, leveraging social media channels corresponding to TikTok to accomplish that, the businesses said jointly in a release.

Argentum generated greater than $50 million in annual sales in China by honing in on brand positioning in addition to a content and community-first approach.

Ushopal plans to proceed developing Argentum’s dominant position within the Asian market and concurrently broadening the brand’s presence within the Americas and Europe.

“Unlike capital-only partners, Ushopal nurtures and inspires brand founders to focus and excel in strategy, branding and product excellence, while also providing needed capital to make sure a precision scale-up that supports supply chain and ongoing R&D,” said Joy Isaacs, founder and chief executive officer of Argentum Apothecary, within the statement.

She’s going to proceed steering the brand.

Argentum, which was launched in 2013, is sold in 26 countries through its own e-commerce site; other e-tailers corresponding to Net-a-Porter and Bonnie & Clyde, and Argentum’s own flagship store in London’s Notting Hill. The U.K. and China are Argentum’s largest markets.

Its product formulas include patented silver hydrosol and DNA HP formulas. Argentum’s portfolio has seven skincare products. The brand’s upcoming launches include the silver tonic water L’Eau de Jouvence, and a line of 13 fragrances.

Ushopal, which closed a $100 million round of funding with FountainVest and Cathay Capital in early March 2021, has been lively in area of interest beauty brand acquisitions. The group has already invested in several of its brand partners, corresponding to Natura Bissé from Spain and French fragrance label Juliette Has a Gun, which was created by Nina Ricic’s great-grandson Romano.

Ushopal is planning an initial public offering.

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