GUANGZHOU, China
and LONDON, United
Kingdom, March 2, 2021
/PRNewswire/ -- Yatsen Holding Limited ("Yatsen" or the "Company")
(NYSE: YSG), a leader in the rapidly evolving China beauty
market, today announced it has entered into a definitive agreement
to acquire prestige skincare brand Eve Lom from Manzanita Capital
("Manzanita"). Manzanita will retain a minority stake in the
business and serve as a strategic partner going forward. The
acquisition is expected to be completed within the next few
weeks.
Founded in 1985 by the renowned facialist Eve Lom, the brand's
eponymous skincare collection is centred on the belief that the
secret to radiant skin begins with the perfect cleanse. In the 35
years since the launch of the iconic Eve Lom Cleanser, the brand
combines high quality natural ingredients with the latest
scientific innovations to create a portfolio of luxurious and
effective products, among which many are award-winning. Eve Lom is
sold through a high-quality, global distribution network with
notable strength in Asian markets, and with e-commerce channels the
brand has built a loyal following worldwide.
"We are delighted to welcome the globally beloved Eve Lom brand
into our brand portfolio. Eve Lom is one of the best performing skincare brands famed for its
profound brand heritage
and unique formulas that combine luxury with
high-performance results. The brand has developed an incredibly
loyal following driven by its hero products such as the Eve Lom
Cleanser, and demonstrated resilient sales and profitability even
during COVID-19. We are excited to
welcome Eve Lom's passionate team with
diverse international background in the fashion and beauty
industry to enrich our global
brand building capabilities and product offerings," said
Jinfeng Huang, founder, chairman and CEO of Yatsen.
Andras Szirtes, Managing Partner
of Manzanita, added, "Eve Lom has been part of the Manzanita family
of brands for nearly 20 years and together we have been on an
incredible journey of growth. We are proud to have watched Eve
Lom's development from a niche brand into a global business with a
presence across North America,
Europe and Asia. We are very excited about the
opportunity to partner with Yatsen. We are convinced that Yatsen's
strong roots with Asian consumers, exceptional e-commerce
capabilities and proven track record of innovation will further
accelerate Eve Lom's growth."
Financo acted as financial advisor in the transaction.
About Yatsen Holding Limited
Yatsen Holding Limited (NYSE: YSG) is a leader in the rapidly
evolving China beauty market with the mission of creating
an exciting new journey of beauty discovery for consumers
in China and around the world. The Company has launched
three fast-growing, successful color cosmetics and skincare
brands: Perfect Diary, Little
Ondine and Abby's Choice, and has recently
acquired Galénic, an iconic premium skincare brand.
Leveraging its digitally native direct-to-customer business model,
the Company has built a platform with core capabilities that
disrupt every part of the traditional beauty industry value chain
and deliver greater value to its customers. The Company reaches and
engages with customers directly both online and offline, with
expansive presence across all major e-commerce, social and content
platforms in China. For more information, please
visit http://ir.yatsenglobal.com/.
About Manzanita
Manzanita Capital is a specialist investor focused on developing
luxury and premium beauty companies into enduring global brands.
Unconstrained by strict investment horizons, its long-term
perspective is backed by patient family capital.
Safe Harbor Statement
This press release contains statements that may constitute
"forward-looking" statements which are made pursuant to the "safe
harbor" provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "aims,"
"future," "intends," "plans," "believes," "estimates," "likely to,"
and similar statements. Statements that are not historical facts,
including statements about the Company's beliefs, plans, and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. Further
information regarding these and other risks is included in the
Company's filings with the SEC. All information provided in this
press release is as of the date of this press release, and the
Company does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
For investor and media inquiries, please contact:
In China:
Yatsen Holding Limited
Investor Relations
E-mail: ir@yatsenglobal.com
The Piacente Group, Inc.
Emilie Wu
Tel: +86-21-6039-8363
E-mail: yatsen@thepiacentegroup.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: yatsen@thepiacentegroup.com
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SOURCE Yatsen Holding Limited