Chinese Makeup Brand Into You Secures Funding | The Business of Beauty

Into You’s Matte Lip Mud. Into You.

Chinese make-up model Into You has introduced that it has closed a 30 million yuan ($ 4.63 million）angel funding spherical from buyers Fosun Rui Zheng Capital and GSR Ventures.
Founded in late 2019, the Shanghai-based DTC model solely formally opened its on-line store on Tmall in mid-May 2020 and has already attracted over 530,000 followers and partnered with almost 1,000 Taobao retailers, in addition to different e-commerce channels resembling Wow Color, Only Write and Noisy.
The model’s founder, Wen Chong, beforehand labored for Alibaba for eight years, which can clarify why the model was in a position to acquire speedy recognition on the group’s e-commerce platforms. Known for its lip merchandise, Into You has reportedly expanded into the Japanese and Korean markets and can attempt to develop channels in Europe, the US and Southeast Asia sooner or later.
The model’s rise speaks to the expansion trajectory of C-beauty manufacturers, which have targeted on particular product class verticals as an entry level to the market, whereas dealing with sturdy market competitors from worldwide gamers.