China’s S’Young Group has acquired US beauty brand RéVive Skincare as the Asian beauty giant continues to strengthen its international beauty talent pool.
See also: Chinese beauty giant S’Young acquires EviDenS de Beauté
Terms of the deal were not disclosed.
The Changsha-based conglomerate acquired the skincare brand founded by Dr. Gregory Brown in 1997 from Tengram Capital Partners, which acquired it from Japanese beauty giant Shiseido in 2017. .
“Dr. Brown and the management team will continue in their current roles and the company will remain independently operated,” RéVive Skincare CEO Elana Dorrell Cypher said in a statement.
Ariel Ohana of Ohana & Company advised Tengram on the sale, and Gibson Dunn served as legal advisor.
According to a report from WWD, RéVive Skincare has experienced rapid growth in sales, with sales of approximately $15 million in 2017. In 2022, the brand’s sales reportedly hit $30 million.
Tengram’s sale of Revive Skincare comes just weeks after the investment firm sold HRB brands, including Alberto VO5, Zest and Coast, to Sodalis Group for an estimated $200 million earlier this month.
S’Young Group is also no stranger to restructuring its beauty product portfolio. In 2022, the company acquired luxury skincare brand EviDenS de Beauté, with the French company maintaining independent operation of the brand and team.
The company, which manufactures and sells beauty products, has partnered with global brands such as Kiko, Lumen, Dr. Ci:Labo, Johnson’s, Neutrogena, and Listerine.
According to Statista, China’s beauty market is expected to reach USD 16.51 billion in 2024.
