Eternal Beauty Holdings, the China-based distributor behind luxury fragrance brands including Hermès, Van Cleef & Arpels, and Coach, has successfully passed its listing hearing with the Hong Kong Stock Exchange, paving the way for its upcoming initial public offering (IPO).
The company intends to deploy IPO proceeds to expand its portfolio of self-owned beauty brands, forge new external brand partnerships, and scale its direct-to-retail operations. Currently, Eternal Beauty’s portfolio comprises 73 brands spanning fragrance, skincare, and color cosmetics. In fiscal year 2023, the company recorded revenue of RMB 1.699 billion (US$236.3 million), with projections to reach RMB 2.083 billion (US$289.7 million) by 2025. Notably, fragrance accounts for more than 80% of total sales. As a pivotal player in China’s beauty distribution sector, Eternal Beauty manages licensing, retail, and marketing for several prominent international beauty labels.
Eternal Beauty’s IPO marks a significant milestone for distribution-led players in Asia’s prestige beauty market. With rising fragrance demand in China and consumers increasingly favoring global luxury brands, the company is well-positioned to capitalize on growth in both licensing and owned-brand segments. Its focus on direct-to-retail expansion highlights a strategic shift toward enhancing profit margins and fostering closer consumer relationships, signaling the evolution of beauty distributors from behind-the-scenes operators to proactive brand builders.
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