PMPM: Innovation is the Key to Building a Brand
- Chaileedo Press
- Sep 21, 2022
- 2 min read
Annual sales exceeded 1 billion yuan ($142 million) just two years after launch.
PMPM is a new Chinese lifestyle brand. The brand was founded at the end of 2019 by former P&G brand director Shan Shuo, and its annual sales exceeded 1 billion yuan ($142 million) in two years since its launch. CHAILEEDO invited PMPM co-founder Guo Wenci to talk about how new Chinese cosmetic brands should breakthrough.
In her opinion, the breakthrough has to be arranged in two directions: brand power and product capability. PMPM has outlined a golden triangle of brand building to establish a brand that transcends cycles and geographies. This golden triangle refers to the innovation of product research, the expression of aesthetic proposition, and the communication of brand spirit.
She believes that product capability is the core competitiveness to be built by the brand. The gap in time accumulation between new consumer brands and big international brands is objective. PMPM's product positioning is "an innovative solution for young Chinese skin", and it wants to have a dialogue with Chinese consumers to discover unmet skin care needs, and improve solutions.
In addition, Guo also said that brand power is indispensable. Infinite brands are solving a limited number of problems, and when brands satisfy efficacy needs, consumers will follow them for a long time, which actually follow a spirit, an emotional value that the brand represents. The ultimate mapping is who the consumers themselves are and what kind of person they want to be.
The rise of new Chinese brands cannot be separated from the traffic. Facing the current situation where traffic is getting more and more expensive, Guo firmly believes that innovation is the key to build a brand, and as a skincare brand, better solving consumers' skin problems through product innovation is the foundation.
Since its inception, PMPM brand has built its brand R&D center and global raw material database, and strategically cooperated with Chinese and overseas authoritative scientific research forces such as Ashland and Jiangnan University to carry out applied research on raw materials, developing RosaRepair™ Chiba Rose precise positioning extract, TruDiamond™ White Truffle precise positioning extract, PMPM EquilYeast Yeast Lysate Extract, and other exclusive ingredients. In the third year of its establishment, the brand has 17 patents..
Against the backdrop of the "oil skincare" trend in the past 2 years, PMPM has developed the Chiba Rose Oil Extract for people with pan-sensitive skin, which can be used all year round. The repurchase rate of this product is over 60%.
Lastly, Guo claimed that PMPM will continue to insist on three-dimensional expression in the content next year. From the professional-oriented content of product composition science, gradually shift to brand-oriented content. It will communicate with consumers and help them solve problems, so that they can have a deeper understanding of product ingredients and identify with the cultural values of the brand.
On September 22, the 5th Conference on China’s Cosmetics Trends will be held in Hangzhou, China. CHAILEEDO will be live streaming the entire event, register now to book a live stream: https://www.chaileedo.com/events.
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