Today (December 20th), Hi!papa, the leading Chinese children’s skincare brand, announced the completion of an exclusive Series A+ funding round from L Catterton, the world’s largest consumer-focused private equity firm. The investment amount has not been disclosed. Xu Yujiangsheng, the founder of Hi!papa, stated that the funds from this round will be used for research and development, brand building, product upgrades, and channel expansion.
Public information shows that Hi!papa was established in 2019 and specializes in researching plant-based skincare products for school-age children. In addition, the size of China’s infant and child personal care market reached 36 billion yuan ($5 billion) in 2022 and is expected to increase to 52.1 billion yuan ($7.3 billion) by 2026. The category itself has high resilience and represents a relatively untapped market.
Chen Yue, Partner at L Catterton Asia, stated, “Through our in-depth consumer insights in the personal care field, we see tremendous growth potential in the domestic children’s skincare market. We look forward to further collaboration with Hi!papa and providing global support to the company in terms of products, channels, and brand marketing.”
Xu Yujiangsheng, the founder of Hi!papa, said, “Hi!papa has not only gained favor from investors but also garnered trust from the industry and recognition from customers, which greatly encourages us. In the next phase, Hi!papa’s focus will be to leverage our scientific research capabilities to contribute to the industry and promote the internationalization of Chinese children’s skincare brands.”
