Clean beauty brands have been hot acquisition properties over the past year. L’Oréal, for example, bought Youth to the People, and Korean giant Amore Pacific scooped up Tata Harper.
Ushopal, China’s leading luxury beauty brand group, was founded in 2017 by J&J veteran, Lu Guo, and within three years reached a GMV of US$200 million. The aim was to become an omnichannel partner in China for niche Western brands sold through storied retailers such as Neiman Marcus in the US, Harrods in the UK and Le Bon Marche in Paris.
The Shanghai-based business also acquired minority investments in the UK-based clean luxury beauty brand, Argentum Apothecary, Spanish luxury skincare brand, Natura Bisse, and cult fragrance player, Juliette Has A Gun.
Ushopal specifically targets Gen Z luxury beauty mavens. Since taking a minority stake in Argentum Apothecary, it has propelled the brand to a top three ranking in the youth market in China, generating US$50 million in sales.
The fast-growing Chinese company has now acquired Argentum Apothecary, founded by Jo Isaacs in 2011.
Argentum has a small range of only seven products, including its hero SKU, La Potion Infinie. The brand’s point-of-difference is its use of Silver Hydrosol, a form of colloidal silver with anti-inflammatory and anti-bacterial properties, and DNA HP derived from salmon milt (fish sperm), which helps to increase collagen production.
Argentum Apothecary is sold in 26 countries, including Australia, through its dedicated website – www.argentumapothecary.com and Net-A-Porter. It has also partnered with Sydney-based clinic, Kaelon Beauty, and is available from www.kaelonbeauty.com
The company is also poised to enter the perfume business with a silver tonic water called L’Eau de Jouvence and a collection of 13 other fragrances.
The next big move for Ushopal will be an IPO (initial public offering).
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