Global High-End Beauty Retail Brand HAYDON Temporarily Closes Many Stores

Updated: Sep 9, 2022

Recently, the global beauty collection store brand “HAYDON” announced the temporary closure of some stores in Hangzhou, Shanghai, and other places, and said that it would reopen after the subsided epidemic. Founded in 2020, HAYDON is positioned as a “global high-end beauty retail brand”.

Recently, the world’s high-end beauty collection store HAYDON announced that four stores (Hangzhou Hubin 88 store, Harbin central street store, Shanghai Bund store and Xinmei store) temporarily closed due to the impact of the epidemic. At present, the store on Chengdu Chunxi Road has resumed business.

In addition to the above four stores, HAYDON Shenzhen Wenheyou joint concept store has also closed and the original set of Zhengjia selected stores has no news at present. The opening time of the Xi’an Weiyang store and Wuxi Yueshang outlet store is also far away.

It is reported that the store on Hangzhou Hubin 88 has only been open for half a year, while the other three stores have opened for a shorter time, not more than 4 months. Except for the closure of two stores in Shanghai, which is the hardest-hit area by the epidemic, the closure of the other two stores is somewhat unusual.

According to media reports, the store on Hangzhou Hubin 88 is not temporarily closed but permanently closed. Judging from the exposed photos of the scene, the shelves in the store have all been emptied, and there are many cardboard boxes for packaging on the ground, which look like they are about to be completely removed. The relevant staff of Hubin 88 revealed that they signed a lease with HAYDON until May 2029, but they did not expect that it had suddenly closed after only half a year of entering, which had just opened in September 2021. At that time, HAYDON was publicized to the outside world, saying that the store was “the first brand 2.0 image concept store”.

The current development of HAYDON is not by its founder Judy’s expansion plan in early 2021. Judy, the founder and CEO of HAYDON, publicly stated that she planned to enter more than 16 key cities in China by the end of 2021, including Chengdu, Shanghai, Nanjing, Yinchuan and Urumqi and open more than 20 stores, exceeding 100 by the middle of 2023.

According to the store information published by its WeChat official account, except for the above-mentioned closed stores, the current number of HAYDON stores in China totals 13. Affected by the epidemic, the speed of opening stores has been greatly reduced. It has not completed the set goal of 2021 and is also far from the “breakthrough of 100 stores” in 2023.

Founded in November 2020, HAYDON is a global high-end beauty retail brand. The first store was opened in Chuhehan Street, Wuhan, where the products are selected by professional buyers and big data and the settled brands include over 350 brands such as European and American big-name brands, European and American professional makeup, Chinese boutique brands, niche lifestyles. There are more than 5,000 SKUs in a single store. In addition to selling cosmetics, independent small sample goods have also become the focus of sales.

As an important “attraction tool” in HAYDON’s stores, the small sample goods mainly come from the counter and traders. Some small sample sources are not transparent, and it is almost hopeless to get the authorization of big-name brands. The occupancy rate of niche brands with high gross profit is not high, so the profit margin of the store is also difficult to grow.

In this regard, some Chinese insiders believe that China’s new beauty collection stores are affected by the sector, risk and capital. HAYDON has experienced a short period of highlights, but the turning point comes too fast. If a brand itself often fails to accumulate much physical retail operation experience, then it will not create the core competitiveness for the brand. With the repeated impact of the epidemic, HAYDON is outshined anymore.




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