Harmay, a Beijing, China-based retail beauty brand, raised $200M in Series C and D funding.
The Series C was led by General Atlantic and the Series D by QY Capital, with Eastern Bell Capital, N5 Capital, Ocean Link, Hillhouse Venture, and BA Capital among the co-investors.
The company intends to use the funds to focus on expanding new categories and markets, digital presence, portfolio of brands, and tighten cooperation with world-renowned beauty groups.
Led by Will Wang, founder and CEO, Harmay offers more than 9,000 SKUs from over 400 international brands across the beauty and lifestyle categories. Every year, the company leverages big data and a team of buyers to uncover the latest niche brands. It also conducts in-depth analysis of store data to continuously refresh its product categories and offering. In 2021 alone, more than 100 new brands were launched on the platform. Many brands from the L’Oréal Group have been launched on HARMAY. The company also recently completed its acquisition of Kevyn Aucoin Beauty which is founded by the American make-up brand Kevyn Aucoin.
The company today operates 9 offline stores across China with over 400 employees. Moving forward, Harmay will expand its offline footprint to new cities, including Wuhan, Guangzhou, and Shenzhen. In addition to the Harmay WeChat mini-program store, it also has plans to launch a dedicated App.
FinSMEs
14/02/2022