L'Oréal is ramping up its presence in China following an investment in local fragrance brand Documents.
The deal between the Chinese luxury perfume house and the French conglomerate was via L’Oréal’s China fund, Shanghai Meicifang Investment.
The owner of Urban Decay and Biotherm established Shanghai Meicifang Investment in May, with Documents being its first venture.
Shanghai Meicifang Investment's minority was part of Documents’ Series A round investment of more than US$1.4m.
Cathay Capital’s Consumer Co-Creation Fund – a partnership by Kering, L’Oréal and Pernod Ricard – also led this round of investment.
The investment will be used for product development, business operations and international expansion.
“Documents is not only an emerging pioneer in the Chinese high-end personalised beauty market, but also a Chinese fragrance brand popular among young Chinese shoppers for its signature oriental aesthetics,” said Fabrice Megarbane, President of L’Oréal North Asia and CEO of L’Oréal China, reported local media outlets.
Founded by Meng Zhaoran in 2021, Documents partnered with fragrance manufacturer Givaudan to develop an avante-garde line targeted for Gen Z.
Documents opened its first store in Shanghai, China, in July 2021.