Key Highlights :
1. JOY GROUP is a Chinese cosmetics company that has been doing well in recent years. In 2022, their revenue was 256.7 million dollars (1.8 billion renminbi).
2. JOY GROUP's growth rate has been increasing for several years, and their profitability is long-term. They are currently the leading player in the Chinese cosmetics industry.
3. JOY GROUP has a strong online presence and is focused on omnicanal expertise. They have a direct-to-consumer (DTC) strategy, which allows them to exploit a large online retail network.
4. JOY GROUP has partnered with important retail partners in the cosmetics industry to expand their reach even further. In 2022, they acquired a cosmetics manufacturer in China with a strong R&D capability.
5. JOY GROUP's supply chain is integrated from R&D to delivery, and they have a proactive strategy of expanding to foreign markets. In 2022, JUDYDOLL became more popular in Japan and Malaysia, thanks to their presence on local non-internet platforms with good value for money offerings. JOOCYEE is now the number one lipstick brand in Asia and the sixth-most popular cosmetics brand on the Chinese social media platform, TikTok. JOY GROUP is supported by a number of large international investors, including General Atlantic and Shunwei Capital (founded by Lei Jun, the founder and CEO of Xiaomi).
Shanghai, April 8, 2023 /PRNewswire/ -- Juyi Cosmetics Co, Ltd. (« JOY GROUP »), one of the leading Chinese manufacturers of cosmetics multinationals, has released its financial results for the year 2022, with an annual revenue of 256,7 million dollars (1.8 billion yuan).
The company's operating income increased by 50% to 103.9 million dollars (2.8 billion yuan) in the year 2022, thanks to strong sales growth in all its businesses. Juyi's flagship brand, JOY, continued to be the company's main driver of growth, with sales reaching 194.4 million dollars (6.1 billion yuan) in the year 2022.
"We are very pleased with our performance in the year 2022, which saw strong growth in all our businesses," said Mr. Jianping Tang, Chairman and Chief Executive Officer of Juyi Cosmetics Co, Ltd. "Our success is the result of our focus on innovation and quality, and our commitment to serving our customers and partners well."
Juyi Cosmetics Co, Ltd. is one of the largest cosmetics companies in China, with a portfolio of leading brands including JOY, JOY+, JOY Fresh, JOY Sunscreen, JOY Lip, JOY Eye, and JOY Men. The company has more than 1,000 stores nationwide and exports to more than 50 countries.
For more information, please visit www.joygroup.com.
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