Beauty Packaging Staff11.02.20
Chinese beauty company Yatsen has acquired Galenic after reaching an acquisition agreement with French pharmaceutical and dermo-cosmetic group Pierre Fabre. The take-over will be effective on November 1, 2020. Pierre Fabre will own a minority stake of 10% in the affiliate created by Yatsen to host Galénic assets in Europe
Galenic is a premium French skin care brand that was introduced in France and other European markets in the late 1970's by Mr. Pierre Fabre.
Yatsen will continue supporting the brand in Europe and will launch it in China, and in other Asian markets. Yatsen intends to capitalize on the French identity of the brand in its communication and will entrust Pierre Fabre with the manufacturing of Galenic products and the development of its future innovations.
With this move, Yatsen intends to improve its research & development capabilities, boost product innovation and benefit from Pierre Fabre's rich experience in product development and brand building.
David Huang, Yatsen Group founder and CEO, commented, "As a young and rapidly growing beauty group, Yatsen is very honored to reach this strategic partnership with Pierre Fabre. Over the years, French brands have been popular among Chinese consumers for their elegance, fashion, refinement and leading R&D efforts. We firmly believe that with Pierre Fabre's unique and leading capability and excellent team, Yatsen will be empowered for future growth."
"We could not have thought of a better acquirer for the Galenic brand that was created by our founder, Mr. Pierre Fabre,” said Pierre Fabre CEO Eric Ducournau. “Galenic has very strong roots in France and we are confident that Yatsen will bring the brand to the next level by leveraging these roots with Chinese consumers.”
Galenic is a premium French skin care brand that was introduced in France and other European markets in the late 1970's by Mr. Pierre Fabre.
Yatsen will continue supporting the brand in Europe and will launch it in China, and in other Asian markets. Yatsen intends to capitalize on the French identity of the brand in its communication and will entrust Pierre Fabre with the manufacturing of Galenic products and the development of its future innovations.
With this move, Yatsen intends to improve its research & development capabilities, boost product innovation and benefit from Pierre Fabre's rich experience in product development and brand building.
David Huang, Yatsen Group founder and CEO, commented, "As a young and rapidly growing beauty group, Yatsen is very honored to reach this strategic partnership with Pierre Fabre. Over the years, French brands have been popular among Chinese consumers for their elegance, fashion, refinement and leading R&D efforts. We firmly believe that with Pierre Fabre's unique and leading capability and excellent team, Yatsen will be empowered for future growth."
"We could not have thought of a better acquirer for the Galenic brand that was created by our founder, Mr. Pierre Fabre,” said Pierre Fabre CEO Eric Ducournau. “Galenic has very strong roots in France and we are confident that Yatsen will bring the brand to the next level by leveraging these roots with Chinese consumers.”
