China’s new emerging skincare brand “C+ Beauty” completed a Series B round of funding led by SIG. This round of funding will be mainly used for the expansion of the “C+ Beauty” product line and product development investment.
Recently, China’s new emerging skincare brand “C+ Beauty” completed a Series B round of funding led by SIG followed by its former shareholders Shunwei Capital, Buer Capital, and Belle Consumer Fund with LightHouse Capital acting as the exclusive financial advisor. This round of funding will be mainly used for the expansion of the “C+ Beauty” product line and product development investment.
This is the third round of financing completed within seven months. Since its official operation in March 2021, “C+ Beauty” has completed two rounds of financing in June and September of that year.
“The characteristics of quick results, high frequency, and affordable price make the mask category maintain a high growth rate for a long time.” After an in-depth study of global mask consumption, Liang Xingmei, Vice President of LightHouse Capital, found that only the Chinese, Japanese and Korean markets are dominated by sheet masks while in the European and American markets, applying masks has a larger market share. But because applying masks was introduced into the Chinese market without changes to the needs of the local population resulting in their current low penetration rate. “After completing the differentiated innovation, the small jar of facial mask will be a blue ocean within the big red ocean sector of facial masks.”
The founder of “C+ Beauty” Xiao Rongshun believes that young women aged 21-30 are gradually becoming the main force in consuming facial masks and they not only pursue product efficacy but also focus on the spiritual value behind the brand. Xiao points out, “A good brand needs to meet both the needs of efficacy and spirit from consumers through high-quality products and this trait is especially prominent among the younger generation of consumers today.”
The term “C+ Beauty” comes from C+, which means China+. The company hopes to use the world’s best technology and raw materials coupled with Chinese manufacturing so that mass consumers can also enjoy world-class quality products on an equal footing. People are born equal, and so is beauty. Life is beautiful and equal. Just like Tesla allows consumers to enjoy revolutionary electric cars, “C+ Beauty” also hopes to provide revolutionary products and become the “Tesla of beauty”.
At present, “C+ Beauty” has entered into strategic cooperation with KKV, THE COLORIST, Sanfu Fashion, and many other offline fashion retail brands in China and now has launched in more than 6,000 stores. The number of stores is still increasing rapidly. Xiao said, “small steps in the complete chain is more conducive to the sustainability of the brand to win when it is behind a lot.”
In the future, C+ Beauty plans to extend the main category of skincare and gradually develop into a leading brand in all categories, and create a multi-brand matrix.