Chinese Derma Skincare Brand Gained $710M in FY2022
- Chaileedo
- Mar 30, 2023
- 2 min read
Updated: Apr 4, 2023
Winona's revenue accounted for 91.18% of parent company Botanee's revenue.
March 30th, Botanee (BTN) released its FY2022 financial results. According to the report, its revenue in 2022 was 5.014 billion yuan ($728.7 million), up 24.65% year-on-year. Its net profit was 1.051 billion yuan ($152.7 million), up 21.82% year-on-year.
BTN is a skin health internet+ health industry group, integrating R&D, production, marketing and service. It enjoys a solid academic and clinical foundation. Its brand Winona has become the number one brand of functional skincare products in China. Its brands include Winona, Winona Baby, AOXMED, etc.
(Credit: BTN’s financial results)
The financial results disclosed that the core brand of BTN, Winona, achieved revenue of 4.885 billion yuan ($710 million) in 2022. One of its other brands, Winona Baby’s revenue was 101 million yuan ($14.7 million). It is understood that in 2022, Winona ranked 6th in the beauty category on the Chinese e-commerce platform Tmall during the Chinese Double 11 Shopping Festival. It is the only Chinese brand that has been listed on the Top 10 of the beauty and skincare category on Tmall for 5 consecutive years during the Chinese Double 11 Shopping Festival. Its Anti-Sensitive Moisturizing Tolerance-Extreme Cream was ranked as the top 1 allergy soothing cream category on Tmall during the Chinese Double 11 Shopping Festival. The sales of Soothing Repairing Freeze Dried Mask continued to grow strongly, holding the position of the top single product in the freeze-dried facial mask sector.
(Credit: BTN’s financial results)
In terms of sales channels, Bethenny has seized the development opportunities through the strategy of building a foundation in the offline medical channel and covering the whole network online. The online self-operated retail business is an important part of the company's sales channels. The revenue from online self-operated business amounted to 3.157 billion yuan ($459 million) during the reporting period, accounting for 63.79% of the total revenue. The revenue from offline self-operated business amounted to 11.85 million yuan ($1.7 million), representing a year-on-year increase of 628.18%.
(Credit: BTN’s financial results)
In addition, the annual report further showed that the skincare category was the main source of BTN, accounting for 91.18% of the whole revenue. Meanwhile, revenue from the color cosmetics business was 53.14 million yuan ($7.7 million), an increase of 0.14% year-on-year.
(Credit: BTN’s financial results)
Looking back at 2022, BTN said it had built a complete marketing matrix: joining forces with experts and doctors, cooperating KOLs and KOCs to carry out tiered publicity and word-of-mouth marketing, and refining content operations to effectively promote its products. It actively incubated new brands, launching AOXMED to specialize in anti-aging, and enriching the "Winona Baby" range to increase its competitive edge.
It is worth mentioning that Beforteen, a professional acne brand, will be launched in 2023. According to reports, the brand is based on China's skin disease data research. Through the combination of top medical research + AI artificial intelligence deep learning independent research and development, the original integrated precision acne treatment solutions can be provided.
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