Chinese Face Mask Giant Syoung Group Invests in Skin Care Start-up Dermdoc
SHANGHAI — Syoung Group, a well-known Chinese facial mask company, recently announced a 10 million renminbi, or $1.4 million, investment in Dermdoc, an Hangzhou-based functional skin care brand.
The seed round funding was announced on Dermdoc parent company Songyang’s official Wechat account.
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The investment in Dermdoc underscroes Syoung Group’s ambition in the niche skin care space.
Syoung Group, the owner of Uniforn, a successful mass-market facial mask brand, recently acquired the high-end French skin care brand Evidens de Beauté for 49.5 million euros.
A week prior to the Evidens de Beauté acquisition, Syoung Group took a minority interest in French niche skin care brand Pier Augé for 3.5 million euros, which includes the acquisition of its China business.
Syoung Group became a publicly listed company in 2018. It is also an online distributor for Western beauty brands such as 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 acne 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 an online shop on Wechat Mini Program. It is believed that Syoung’s investment will help Dermdoc expand its e-commerce presence.
