China’s beauty unicorn Yatsen has entered a definitive agreement to acquire prestige skin care brand Eve Lom.
The maker of Perfect Diary and Little Ondine, and a leader in China’s rapidly-evolving beauty market, purchased the eponymous brand of the renowned facialist from Manzanita Capital, who will retain a minority stake in the business.
As part of the deal, which is expected to be completed in the coming weeks, Manzanita will also serve as a strategic partner for the brand’s future.
Eve Lom has been a part of the Manzanita group for nearly 20 years, during which time it expanded from a niche beauty brand to a global business.
“We are delighted to welcome the globally beloved Eve Lom brand into our brand portfolio,” said Yatsen’s founder and CEO, Jinfeng Huang.
“Eve Lom is one of the best performing skin care brands famed for its profound brand heritage and unique formulas that combine luxury with high-performance results.
“It 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.”
He continued: “We are excited to welcome Eve Lom’s passionate team with its diverse international background in the fashion and beauty industry to enrich our global brand building capabilities and product offerings.”
Manzanita’s Managing Partner, Andra Szirtes, added: “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.”