Yesterday, Chinese cosmetics company S’Young Group Co., Ltd. announced its third-quarter report for 2024.
The financial report shows that in the first three quarters of 2024, S’Young Group’s operating income was 3.044 billion yuan ($427.3 million), a year-on-year decline of 9.84%. The net profit attributable to shareholders of the listed company was 94.36 million yuan ($13.25 million), down 47.60% year-on-year. The net profit attributable to shareholders after deducting non-recurring gains and losses was 108 million yuan ($15.16 million), showing a double-digit decline of 44.82% compared to the same period last year.
According to public information, S’Young Group was originally an e-commerce company that officially listed on the A-share market on February 8, 2018. It currently owns several self-branded labels, including UNIFON, MIHOO, Big Drop, and VAA.
From the brand perspective, according to S’Young Group’s investor relations activity record, the French professional salon brand PA, acquired by S’Young Group, generated a GMV of 60 million yuan ($8.4 million) in the Douyin channel after launching new products this year, a 15-fold increase. Additionally, among its partner brands, the Spanish professional skin management brand Mestique achieved a GMV of approximately 115 million yuan ($16.14 million) in the Douyin channel in the third quarter, with a year-on-year increase of 110%.
Furthermore, S’Young Group revealed that in the first full year after acquiring the French luxury skincare brand EviDenS, EviDenS achieved an overall growth rate of about 100%, with global GMV exceeding 1 billion yuan ($140.4 million).
Notably, S’Young Group recently announced the acquisition of the high-end skincare brand RéVive, and during a progress update meeting on the acquisition project of the RéVive brand, it announced that it has preliminarily completed its transformation towards globalization and high-end branding. Previously, S’Young Group also acquired the French luxury skincare brand Ifidan, which, in its first full year post-acquisition, achieved around 100% growth, with global GMV surpassing 1 billion yuan ($140.4 million).
