Three years after becoming a member of the Yatsen group, Galénic is reporting promising outcomes, with a six-fold enhance in gross sales in 2024. With the 2021 buy, the Chinese language investor, proprietor of the Excellent Diary (完美日记) make-up model, aimed to enter the world of high-end skincare.
“Yatsen is a bunch that’s little recognized in Europe, however very influential in China, due to the revolution they led to in make-up, with Excellent Diary”, explains Sarah Michel-Stevens, Managing Director of Galénic Cosmetics Laboratory.
“To enter the world of high-end skincare, they wished to amass an solely French model that assured 100% made-in-France high quality, not just for Chinese language customers, but additionally for the worldwide market. We now have all the time stored this uniquely French anchoring.”
The Pierre Fabre Group stays a shareholder within the model, to make sure Galénic’s French experience and heritage are maintained, whereas benefiting from the assets and strategy of the Yatsen Group.
Scientific and technical funding
Nonetheless based mostly in Toulouse, Galénic has arrange its personal R&D centre and outsources manufacturing to a service supplier based mostly in France.
“Product improvement is carried out solely in our analysis centre, by groups specialised in every space: formulation, scientific trials, regulatory affairs, and so forth. We additionally make investments closely in science and analysis, working with prestigious establishments such because the Saint Louis hospital in Paris and CNRS, the French Nationwide Centre for Scientific Analysis. We consider that progress in science and innovation relies on collective work,” provides the Director.
This funding was illustrated by the creation in September 2023 of a dermatology analysis fund designed to boost requirements of information on this subject and to reward essentially the most progressive analysis initiatives in dermatology.
In 2021, Galénic launched the Galeniceuticals skincare vary: the primary product, which boasts a 20% vitamin C focus, shortly turned a bestseller. The model is now about to market a brand new era of vitamin A and retinol-based merchandise ensuing from scientific collaboration and funding, as an illustration of its commitments.
Gaining new market share
A flagship of the French cosmetics trade for 45 years, Galénic has conquered the Chinese language market with its upmarket, scientific positioning, relying primarily on the net channel, based mostly on the enterprise mannequin developed by Yatsen. However it now goals to ascertain itself as a worldwide participant, rising its visibility by a bodily presence in strategic factors of sale all around the globe.
“China is now the world’s largest luxurious market, and it stays essential for us. We plan to strengthen our place on this nation by getting into new distribution channels, whereas actively exploring alternatives in different dynamic worldwide markets, the place demand for luxurious items is booming,” says Sarah Michel-Stevens.
Along with consolidating its presence within the Chinese language market, Galénic’s progress technique is due to this fact based mostly on diversified distribution, with plans to open flagship shops and corners in luxurious shops, in addition to to be current in journey retail shops.
The Managing Director has additionally introduced the opening of a primary store by the top of 2024, with out but specifying a location.
“Because of Yatsen’s progressive enterprise mannequin and to the assets made out there to us, we are able to work to make Galénic a worldwide cosmetics model, combining our French heritage and our skill to innovate,” concludes Sarah Michel-Stevens.
