Yatsen Holding (YSG) to Acquire Prestige Skincare Brand Eve Lom
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Yatsen Holding Limited ("Yatsen" or the "Company") (NYSE: YSG), a leader in the rapidly evolving China beauty market, today announced it has entered into a definitive agreement to acquire prestige skincare brand Eve Lom from Manzanita Capital ("Manzanita"). Manzanita will retain a minority stake in the business and serve as a strategic partner going forward. The acquisition is expected to be completed within the next few weeks.
Founded in 1985 by the renowned facialist Eve Lom, the brand's eponymous skincare collection is centred on the belief that the secret to radiant skin begins with the perfect cleanse. In the 35 years since the launch of the iconic Eve Lom Cleanser, the brand combines high quality natural ingredients with the latest scientific innovations to create a portfolio of luxurious and effective products, among which many are award-winning. Eve Lom is sold through a high-quality, global distribution network with notable strength in Asian markets, and with e-commerce channels the brand has built a loyal following worldwide.
"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 background in the fashion and beauty industry to enrich our global brand building capabilities and product offerings," said Jinfeng Huang, founder, chairman and CEO of Yatsen.
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."
Financo acted as financial advisor in the transaction.
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