The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Chinese makeup brand Into You has announced that it has closed a 30 million yuan ($ 4.63 million)angel funding round from investors Fosun Rui Zheng Capital and GSR Ventures.
Founded in late 2019, the Shanghai-based DTC brand only officially opened its online shop on Tmall in mid-May 2020 and has already attracted over 530,000 followers and partnered with nearly 1,000 Taobao retailers, as well as other e-commerce channels such as Wow Color, Only Write and Noisy.
The brand’s founder, Wen Chong, previously worked for Alibaba for eight years, which may explain why the brand was able to gain rapid popularity on the group’s e-commerce platforms. Known for its lip products, Into You has reportedly expanded into the Japanese and Korean markets and will try to develop channels in Europe, the US and Southeast Asia in the future.
The brand’s rise speaks to the growth trajectory of C-beauty brands, which have focused on specific product category verticals as an entry point to the market, while facing strong market competition from international players.
Landing a retail partnership is often seen as a major milestone for beauty founders — but it brings a bevy of new challenges, from the logistical complexities to setting a marketing budget. Black entrepreneurs, who typically have far less capital to work with, often face tough choices.
The firm has been working on a listing since at least 2022, with previous attempts buffeted by volatile markets.
In a three-part series, The Business of Beauty explores how Black founders Monique Rodriguez, Danessa Myricks and more built, launched and scaled their multi-million-dollar businesses. In part one, a look at how these entrepreneurs found their niche and harnessed early lessons that were critical to their growth
There’s something both innocent and concerning about 13-year-olds’ obsession with skincare. Kids will always want to find new ways to express themselves, but the beauty industry has a responsibility to protect its youngest customers.