Daily Newsletter

10 January 2024

Daily Newsletter

10 January 2024

USHOPAL invests in Chinese fragrance brand DOCUMENTS 

The investment marks USHOPAL's first venture with a Chinese domestic brand.

Jangoulun Singsit January 08 2024

Chinese luxury beauty and retail company the USHOPAL Group has led a multi-million dollar financing round in DOCUMENTS, a Chinese high-end fragrance brand.  

The investment aims to provide DOCUMENTS with greater international exposure and opportunities to engage with global brand leaders. 

DOCUMENTS is the first high-end fragrance brand in China to receive venture capital from L'Oréal. 

It has already opened directly operated stores at prime locations in major Chinese cities. 

DOCUMENTS founder Zhaoran Meng stated: "DOCUMENTS has always aimed to awaken sensory resonance among urban residents and communicate the contemporary taste of Chinese people's lifestyles through novel and profound olfactory experiences.  

“Accepting investment from USHOPAL this time, we hope to leverage its professional expertise and leading position to strengthen our brand's creative advantages in aesthetics. Additionally, we aim to gain more benefits in global channels, business operations and supply chain management, working towards enhancing competitiveness and evolving into a more visionary international brand." 

This strategic investment marks USHOPAL's first equity investment in a domestic brand and signifies the growing importance of Chinese brands in the company's business strategy. 

The company stated that its management team selected brands based on brand positioning maturity, emotional communication effectiveness, product development consistency and unique artistic expression.  

USHOPAL founder and CEO Lu Guo stated: "USHOPAL only collaborates with the world's top-tier brand teams. Over the past years, the company has actively sought outstanding Chinese high-end beauty brands. The investment in DOCUMENTS marks USHOPAL's first venture into the domestic market, signifying our belief that China has produced brands capable of stepping onto the global stage." 

Top Themes in Retail and Apparel in 2024

While AI has been used by retailers for some time for tasks such as inventory management and forecasting, GlobalData expects its implementation to accelerate in the coming years, especially in areas such as personalized marketing, customer service, price optimization and supply chain management.

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