Recently, skincare brand Gmeelan’s parent company, Guangzhou Jimi Biotechnology Co., Ltd. (referred to as Jimi Biotechnology), announced the completion of a pre-Series A financing round of tens of millions of RMB. The round was led by AC Ventures, a Southeast Asian dollar investment fund, with continued participation from existing shareholder Lightspeed China Partners. Lingbo Capital served as the exclusive financial advisor for this round of financing. The funds raised in this round will be primarily used for product research and development, global supply chain expansion, and the recruitment of key talents.
Public information shows that Jimi Biotechnology was founded in 2020 and is an international skincare conglomerate that integrates global formula research and development, production, sales, and customized services. Its core team members come from well-known companies such as Tencent and Procter & Gamble. Since its establishment, the company has completed three rounds of financing and has been ranked as the top seller in the cross-border skincare category on TikTok Shop multiple times.
Gmeelan, the company’s flagship brand, has a TikTok official store in the Philippines, which has become a benchmark case for many brands with a month-on-month growth of 125% in GMV (Gross Merchandise Volume) and a 60% increase in the number of orders. Additionally, Gmeelan was one of the top three cross-border merchants during the 2022 Double 11 Shopping Festival and Double 12 Shopping Festival.
CHAILEEDO found that Gmeelan has a total of 13 stores on TikTok, spread across Thailand, Malaysia, Vietnam, Indonesia, the Philippines, and Singapore. Among them, there are three stores each in the Philippines and Vietnam. As of July 2, 2023, the brand’s total sales in Southeast Asia reached 427,000 units, with a total sales revenue of 17.161 million yuan ($2.4 million) since its inception, with the majority of sales coming from Thailand.
