Dewy Lab and Intercos Explore More in Clean Beauty Market
- Chaileedo Press
- Aug 11, 2022
- 3 min read
Updated: Aug 25, 2022
Abstract: China's first clean beauty brand Dewy Lab has partnered with Shanghai Jiaotong University and the international beauty giant Intercos Group to deepen the layout of clean beauty.
On August 10, Dewy Lab announced a strategic cooperation with Shanghai Jiaotong University and international beauty OEM giant Intercos Group. The cooperation between Dewy Lab and Intercos Group, the world's leading beauty OEM/ODM supplier, is focused on clean beauty.
According to CHAILEEDO, the two parties will first jointly launch a jointly recognized clean beauty standard, which includes ingredient standards, production process, and procedure standards, animal testing standards, and principles, etc. It will guide future product upgrades and new product development accordingly. In addition, Intercos will provide a team of lead formulators and scientists to support the development of Dewy Lab's product formulations, the development and production of core ingredients for application, and consumer-oriented market transformation.
The early emergence of clean beauty in the European and American markets began to sprout before 2005 and entered a buildup state after 2010. With the outbreak of COVID-19, more and more Chinese consumers began to pay attention to the safety of product ingredients, which allows the concept of clean beauty makeup further into the Chinese market.
From the market data, clean beauty is ushering in the rising period. In 2021, the market size of global clean beauty was $6.01 billion. It is expected to reach $11.56 billion by 2027. Clean beauty in the next ten years may exceed 100 billion yuan.
Foreign brands with a keen sense have seen this new blue sea and have entered the market one step ahead.
In 2015, Unilever announced the acquisition of the British clean beauty brand REN. In 2019, Shiseido Group acquired the U.S. Clean Beauty representative brand Drunk Elephant for 890 million. In 2020, Revlon officially entered the field of clean beauty, and P&G acquired the New Zealand clean and natural skincare brand Snowberry. In addition, foreign supermodel Miranda May Kerr also launched her own brand Kora organics. The main focus is plant organic and clean beauty.
The above-mentioned brands have also brought clean beauty products to China. For example, Shiseido's Drunk Elephant entered the Chinese market in 2019. Leveraging Double 11 in November of the same year, the brand's network-wide GMV exceeded $1.5 million for the first time in China. Unilever's brand REN has an overseas flagship store on the Chinese e-commerce platform Tmall Global and the highest-selling single product in its store is REN Ready Steady Glow Daily Aha Tonic. It is priced at $31 with a total sales volume of 20,000+. In terms of brand sales, international beauty companies' clean beauty brands are not yet recognized by the majority of consumers in China.
Dewy Lab, as a local Chinese brand, may understand Chinese consumers better. According to public information, Dewy Lab is a clean makeup brand incubated by Chinese local first-tier investors and film and entertainment groups. It was founded in March 2020, which is the first Chinese local clean makeup and the first cosmetic brand invested by the Chinese sharing platform Xiaohongshu. As of February this year, Dewy Lab has completed three rounds of financing in one year. Since the product was launched in January 2021, it has been loved by consumers. Data shows that the products of Dewy Lab have reached monthly sales of $742 thousand within six months after the launch of self-operated channels. It exceeded $1.48 million in November 2021 in the big promotion of the Chinese Double 11 Shopping Festival. It continued to exceed $1.48 million in December. A search of the Taobao flagship store showed that the top3 best-selling product currently ranked is concealer, loose powder and powder cream with concealer occupying the first place with the total sales volume of 100,000+.
This time, Dewy Lab has partnered with Intercos and Shanghai JiaoTong University to deepen the layout of clean beauty. Amber, the founder & CEO of the brand, said that the cooperation will improve the brand's R&D capability as well as speed up the industrialization of the latest research results. It is contributed to improving the level of clean beauty research in the industry. In the future, a new dark horse may emerge in China's clean beauty market.
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