L'Oréal China investment unit backs local fragrance brand

The size of the investment was not disclosed, although it is said to be several million US dollars. Cathay Capital co-led the round with the L'Oréal unit, known as Shanghai Meicifang Investment.

Cathay Capital participated through the Cathay Consumer Co-creation Fund, which was launched last December in partnership with L'Oréal and fellow France-headquartered luxury groups Kering and Pernod Ricard. The fund focuses on seed to Series A rounds for Chinese companies in the consumer goods and retailer segments.

The investors will leverage their respective ecosystems to support Documents on boosting brand recognition, broadening distribution channels, and overseas expansion. The start-up previously received tens of millions of renminbi in angel funding from Z Capital last year.

Founded in 2021, Documents is a high-end fragrance brand that draws on locally sourced raw materials to create a style it refers to as "chanku," which means "zen and cool." It has released 15 products to date across three categories inspired by oriental aesthetics.

The company is also recognisable for its avant-garde store style. There are currently two outlets in Shanghai and one in Beijing. Others are planned for Chengdu and Shenzhen.

"We believe that China beauty will have a significant impact on the development of the regional and even global beauty industries," said Fabrice Megarbane, North Asia president of L'Oréal and the company's China CEO.

"Documents is an emerging pioneer not only in China's high-end personalised beauty market, but also in the new fragrance and oriental aesthetic philosophy behind it. It is widely loved by young people."

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Greater China
• Early-stage
• Consumer
• China
• Cathay Capital Private Equity