GMV Hit 1 billion! PMPM Outmatches Covid-19 Virus
- Chaileedo Press
- Apr 28, 2022
- 4 min read
Chinese skincare brand PMPM released an article on its WeChat public account entitled "Self-Introduction: Take You to See the Story Behind PMPM", revealing how the brand makes products. The PMPM product was officially launched in March 2020, and it can be said that it suffered from the impact of the covid-19 virus when it was launched. But the brand was unstoppable, and the GVM exceeded 300 million yuan (about $45.76 million) in the first year of the product listing and completed three financings in one go. In the next year, PMPM's GMV exceeded 1 billion yuan (about $153 million).
PMPM is a skincare brand of PMPM E-commerce Co., Ltd., which was established in October 2019. PMPM products were officially launched in March 2020, but it encountered the threat of the epidemic at the beginning of its launch, but the brand still achieved rapid growth.
From its launch to the Double Eleven shopping festival in 2020, the brand exceeded 100 million yuan (over $15.17 million) in sales in less than 6 months with the GMV exceeding 300 million yuan (about $45.76 million) in the first year.
In the subsequent 2021, PMPM participated in the "618 (June 18) shopping festival" for the first time and exceeded more than 110 million (about $16.78 million), and the main lotion set and essential oil ranked top 1 and top 2 in the sales list.
Since February 2021, PMPM has exerted its strength on the self-streaming of TikTok E-commerce. The brand self-streaming has become a basic sales resource of TikTok E-commerce with a high frequency and normalized streaming mode. From February 8 to February 14, TikTok E-commerce launched the Innovative Brand Week, in which PMPM with the hashtag "no distant place that cannot be reached". This brand activity achieved excellent results: the total online and offline exposure exceeded 260 million and the business increased by 239% compared with the previous week with the business target reaching 151%.
In 2021, PMPM's GMV exceeded 1 billion yuan (about $153 million).
It can be said that when PMPM is not afraid of the epidemic when it debuted and peaked, how does PMPM achieve good development in making products since its establishment?
PMPM said that their products have passed through 5 major procedures of raw materials, formulation, extraction technology, efficacy testing and production, and 26 checkpoints before reaching consumers.
In terms of raw materials, PMPM selects the world's top raw material suppliers according to international standards and has now left a footprint in 6 places in the world: the harun ingredient of the baobab tree in Madagascar, the sea fennel ingredient on the coast of Bretagne, the rose ingredient in Bulgaria, the white truffle ingredient in the Piedmont forest and so on.
In addition, PMPM has reached a deep strategic cooperative relationship with Ashland, an international raw material supplier, and has carried out all-around cooperation based on R&D resources, formulation, product testing, and other fields. It has now applied advanced scientific research technology to carry out innovative research and development of exclusive raw materials in Ashland.
In addition, in the more important efficacy monitoring link, PMPM said that its product efficacy has been tested by the authoritative institution China Academy of Quarantine and Inspection, coupled with the Sino-German cosmetics graduate students under the Chinese Academy of Inspection and Quarantine for 28 days of consumer measurement on the clinical double verification of product efficacy.
It is not difficult to see that PMPM does maintain a rigorous attitude in terms of raw materials and efficacy testing. In addition, its marketing strategy is also awesome in the industry.
On May 16, 2021, while other brands were immersed in the clamour of live streaming of promoting good sales, PMPM was in live streaming of a sea with the theme of "no distant place that cannot be reached".
PMPM brings a day on the coast of Bretagne, 9,000 kilometres away from China, on Tmall, TikTok, WeChat, Bilibili, and other platforms in live streaming, allowing everyone to see the coast from sunrise to sunset in real-time, and immersively feel the surprise of the sea breeze and the waves.
At the same time, PMPM also brought the exploration of the core natural ingredient of the Bretagne collection, "sea fennel", to the camera. It did not sell products through live streaming and only allured viewers to watch the sea. PMPM's ingenious design implements the brand's "exploration" spirit, resonating with the majority of consumers.
In addition to online live streaming, PMPM has also been brought far away to the streets. In the form of large-screen delivery, PMPM directly brings Bretagne's sea to the bustling city center of Chengdu, which is particularly fresh and eye-catching in all product advertisements.
PMPM even contracted a subway to restore the beauty of Bretagn and the sea fennel growing in the salt soil of the coast on Chengdu Metro Line 1, allowing busy urbanites to take the subway to "go to Bretagne and see the sea" and experience the distant coast in an immersive way.
In addition, PMPM is also particularly favored by capitals. In the first year after its official launch of the product, the parent company, Shanghai PMPM E-commerce Co., Ltd., completed three rounds of financing. In January 2020, sourcecode capital completed an angel round financing of 10 million yuan (about $1.53 million). In June 2020, it completed the Pre-A round of financing led by BA CAPITAL, followed by XINYI CAPITAL and sourcecode capital. In October 2020, PMPM completed a round of A financing.
In March 2022, PMPM received strategic investments from Tencent and HUPO CAPITAL (HK) LIMITED.
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