Chinese face mask giant Syoung Group invests in Hangzhou skincare startup Dermdoc – WWD

SHANGHAI— Syoung Group, a well-known Chinese face mask company, recently announced an investment of 10 million renminbi, or $1.4 million, in Dermdoc, a Hangzhou-based functional skincare brand.

The seed round funding was announced on the official Wechat account of parent company Dermdoc Songyang.

The investment in Dermdoc underscores Syoung Group’s ambition in the skincare niche.

Syoung Group, owner of Uniforn, a successful consumer face mask brand, recently acquired French high-end skincare brand Evidens de Beauté for 49.5 million euros.

A week before the acquisition of Evidences de Beauté, Syoung Group took a minority stake in French skincare brand Pier Augé for 3.5 million euros, which includes the acquisition of its China business.

Syoung Group became a 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, the Dermdoc product line includes repairing 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 develop its retail presence. It also operates an online store on Wechat Mini Program. It is believed that Syoung’s investment will help Dermdoc expand its e-commerce presence.

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