L’Oréal China invests in a niche fragrance brand

L’Oréal’s investment arm in China, Shanghai Meicifang Investment (Meicifang), has taken a minority stake in Chinese high-end niche fragrance brand Documents.

Cathay Consumer Co-creation Fund, co-created by Cathay Capital, Kering, L’Oréal and Pernod Ricard, has also invested in the Chinese brand. The investment will be used for product development, business operations and to fuel Documents’ international expansion.

Founded last year by Zhaoran Meng, Documents is known for its rebellious, dark and mysterious image with unique store designs, targeting Gen Z and high-consuming Millennials. The brand currently operates three stores in the country.

The purchase of a stake in Documents, backed by Bold (Business Opportunities for L’Oréal Development), marks Meicifang’s first investment in China after its creation by the L’Oréal group in May with a registered capital of 15 million dollars.

Fabrice Megarbane, President of L’Oreal North Asia and CEO of L’Oreal China, said the creation of Meicifang reflected the group’s “long-term confidence” in China and Chinese beauty brands and its confidence in the the country’s increasingly optimized business environment. .

Donovan B. Sanford