Today (October 10th), JOY GROUP and Pierre Fabre Laboratories announced that JOY GROUP will assume full responsibility for all operations of its René Furterer brand in China. This collaborative agreement will officially take effect on January 1st, 2024.
According to JOY GROUP, this partnership aims to leverage the complementary strengths of both companies and drive the continuous growth of the René Furterer in the Chinese market, further solidifying its leading position in the high-end hair and scalp care sector.
Pierre Fabre has decided to exclusively license its René Furterer brand to JOY GROUP, granting them the authority to oversee all related business operations in China. This includes responsibilities such as marketing, sales, and distribution management. It’s important to note that despite the licensing agreement, the ownership of the “René Furterer” brand remains with Pierre Fabre Laboratories, and the production of its products will continue to be carried out under their control in France.
In addition to the licensing arrangement, JOY GROUP and Pierre Fabre Laboratories will collaborate on research and development initiatives. This partnership aims to leverage Pierre Fabre Laboratories’ advanced R&D expertise and combine it with JOY GROUP’s deep understanding of the local market. Together, they will work towards developing hair care products tailored to meet the specific needs of Chinese consumers.
It is worth mentioning that JOY GROUP is a leading Chinese beauty brand, with two major cosmetics brands, JUDYDOLL and JOOCYEE. In 2022, JOY GROUP achieved annual sales of 1.76 billion yuan ($241.3 million), representing a 30% year-on-year growth. The JUDYDOLL brand alone surpassed 1 billion yuan ($137.1 million) in annual sales in 2022, while JOOCYEE brand exceeded 750 million yuan ($102.8 million) in annual sales in the same year.
“This collaboration represents the perfect synergy of both parties’ strengths and resources,” said Allan Liu, President of JOY GROUP, “Combined with JOY GROUP’s leading consumer insights and marketing resources in the Chinese market, we are confident that this collaboration will propel René Furterer to become one of the most beloved high-end hair and scalp care brands in China.”
Frédéric Ennabli, CEO of Pierre Fabre Dermo Cosmetique, stated, “JOY has developed a real expertise in presenting brands to consumers, with omni-channel marketing and sales capabilities, for example live streaming. We will be combining René Furterer’s vision of haircare and the competitiveness of our research with JOY’s commercial know-how to take our brand to new heights in China. Following the opening of our Innovation Center in Shanghai last June and the celebration of the 20th anniversary of the launch of Eau Thermale Avène in this territory, this partnership highlights Pierre Fabre’s renewed ambition in China.”