Botanee Sells $400M in the Last 9 Months up 37.05%
- Chaileedo Press
- Oct 26, 2022
- 2 min read
Updated: Oct 28, 2022
In the first three quarters of this year, Chinese domestic retail sales in cosmetics were 277.4 billion yuan (about $38.2 billion), down 2.7% year-on-year. Against this backdrop of a weak cosmetics market, the performance of Winona's parent company, Botanee Group (BTN) achieved strong growth of 37.05%.
On October 25, Botanee Group released its financial results for the third quarter of 2022. The financial report showed that Botanee Group's revenue in the first three quarters was 2.895 billion yuan (about $400 million), up 37.05% year-on-year. Its net profit attributable to shareholders of the listed company was 517 million yuan (about $71.2 million), up 45.62% year-on-year.
In the third quarter, Botanee recorded revenue of 846 million yuan (about $116.5 million), up 20.65% year-on-year. Its net profit attributable to shareholders of the listed company was 122 million yuan (about $16.8 million), up 35.49% year-on-year.
The financial report shows that its revenue still maintained a 37.05% growth in the first three quarters, mainly due to the further improvement of its products and brand awareness and faster growth in sales scale and sales revenue.
Moreover, with the growth of Botanee Group's sales scale and sales revenue, its operating costs increased by 37.75% to 672 million yuan (about $92.5 million) in the first three quarters, including R&D expenses of 126 million yuan (about $17.4 million), a year-on-year soar of 84.66%. Botanee Group said that its R&D investment in the first three quarters matched with research direction and research progress.
It is worth mentioning that according to Botanee Group's financial reports for 2020 and 2021, the sales contribution of Winona is over 98%. In recent years, relying on the expanding brand awareness of Winona, Botanee Group has only gradually become known to the public. According to a research report by Guolian Securities, before 2015, China's domestic dermatology-grade skin care market was dominated by international brands. The top three brands in terms of market share were Avène, Vichy, and LA ROCHE-POSAY, which were all from France, with a combined market share of 57.6% for the three brands, while Winona's market share was only 6.8%. By 2020, its market share of Winona has increased to 21.6%.
The official data of Tmall shows that on the first day of pre-sale, Winona became the only Chinese beauty brand with a pre-sale turnover of over 1 billion yuan (about $138 million), of which "Winona Freeze-dried Mask" exceeded 400 million yuan (about $55 million) with sales of over 3.9 million boxes, taking the lead in the pre-sale list.
In addition, the performance of each big single product under Winona is also outstanding. According to Tmall data, within 4 hours of the pre-sale, the ace product Winona Anti-Sensitive Moisturizing Tolerance-extreme Cream sold over 2 million units. Its new product Soothing Moisturizing Extra Care Essence sold over 600,000 units. Winona Sunblock Milk sold over 900,000 units, and Winona Rich Moisturizing Repair Cream sold over 270,000 bottles.
As of press time, the real-time Botanee share price is 153.7 yuan, up 6.3%. Botanee enjoys a total market value of about 64.27 billion yuan (about $8.85 billion).
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