UK Premium Skincare Brand Eve Lom Acquired by Owner of Perfect Diary

The owner of C-Beauty brand Perfect Diary announced on March 2 that it is acquiring Eve Lom, a UK-based premium skincare brand from Manzanita Capital, which will retain a minority stake in the business and enter into a strategic partnership with Yatsen. The deal is expected to close within the next few weeks.

Eve Lom was founded in 1985 in London by the renowned facialist. The brand’s eponymous skincare collection is centered on the belief that the secret to radiant skin begins with the perfect cleanse. Since the launch of its classic cleanser, Eve Lom has been focused on a fusion of natural and high-tech ingredients. The skincare brand is sold through a high-quality global distribution network with notable strength in Asian markets, and with e-commerce channels worldwide.

Huang Jinfeng, founder, chairman and chief executive of Yatsen, said: “We are delighted to welcome the globally beloved Eve Lom brand into our brand portfolio. Eve Lom is one of the best performing skincare brands famed for its profound brand heritage and unique formulas that combine luxury with high-performance results. “The brand has developed an incredibly loyal following driven by its hero products such as the Eve Lom Cleanser, and demonstrated resilient sales and profitability even during Covid-19. We are excited to welcome Eve Lom’s passionate team with diverse international backgrounds in the fashion and beauty industry to enrich our global brand building capabilities and product offerings.”

Andras Szirtes, managing partner of Manzanita, added: “Eve Lom has been part of the Manzanita family of brands for nearly 20 years and together we have been on an incredible journey of growth. We are proud to have watched Eve Lom’s development from a niche brand into a global business with a presence across North America, Europe and Asia. We are very excited about the opportunity to partner with Yatsen. We are convinced that Yatsen’s strong roots with Asian consumers, exceptional e-commerce capabilities and proven track record of innovation will further accelerate Eve Lom’s growth.”

About Yatsen Holding Limited

Yatsen Holding Limited (NYSE: YSG) is a leader in the rapidly evolving China beauty market with the mission of creating an exciting new journey of beauty discovery for consumers in China and around the world. The company has launched three fast-growing color cosmetics and skincare brands: Perfect Diary, Little Ondine and Abby’s Choice. In October 2020, it reached an agreement with Pierre Fabre, a pharmaceutical and dermo-cosmetics group based in France, to acquire Galénic, a premium skincare brand.

Through a new highly digital, technology-driven direct-to-consumer (DTC) business model, Yatsen Holding has built a platform with core technology that revolutionizes the traditional value chain of the beauty industry, thereby creating more value for users. Currently, Yatsen Holding and its brands have high-level daily exposure on China's mainstream e-commerce platforms, social and content platforms, and built online and offline omnichannels for deep interaction with consumers.

About Manzanita Capital

Manzanita Capital is a firm specializing in investing in luxury goods and premium beauty brands, developing them into enduring global brands. Backed by family funds, Manzanita Capital has a long-term investment horizon and provides capital to a broad array of investment types.

Beside Eve Lom, Manzanita’s main portfolio includes perfume brand Byredo, cosmetic brand Kevyn Aucoin, beauty retailer Space NK, as well as French fragrance brand Diptyque, which was acquired in 2005.

| Sources: Official News, Luxe. CO reports, Manzanita Capital Official Website

| Photo Credit: Official News

| By Jiang Fan, LeZhi