Yatsen acquires prestige skincare brand Eve Lom

Yatsen Holding Limited, a leader in the Chinese beauty market, has entered into a definitive agreement to acquire prestige skincare brand Eve Lom from Manzanita Capital.

The acquisition will see Manzanita Capital, a specialist investor focused on developing luxury and premium beauty companies into global brands, retaining a minority stake in the business and serving as a strategic partner going forward.

In a short statement, Yatsen said that the acquisition is expected to be completed within the next few weeks.

Eve Lom was founded in 1985 by the renowned facialist and the brand’s eponymous skincare collection is centred on the belief that the secret to radiant skin begins with the perfect cleanse. The skincare brand is sold through a high-quality, global distribution network with notable strength in the Asian markets, and with e-commerce channels worldwide.

Jinfeng Huang, 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 background 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.”

Yatsen Holding has launched three fast-growing, successful colour cosmetics and skincare brands - Perfect Diary, Little Ondine and Abby’s Choice, and has recently acquired Galénic, a premium skincare brand.