Yatsen Holding signs agreement to buy skincare brand Eve Lom

China-based Yatsen Holding has signed a definitive agreement to buy skincare brand Eve Lom from Manzanita Capital.

Following the completion of the deal, Manzanita will have a minority stake in the business and act as a strategic partner going forward.

The acquisition is slated to be closed within the next few weeks.

Set up in 1985 by facialist Eve Lom, the brand’s eponymous skincare collection features natural ingredients.

Eve Lom is sold through  global distribution network and has presence in Asian markets. Through e-commerce channels, the brand claims to have built a loyal following across the world.

Yatsen CEO, chairman and founder Jinfeng Huang said: “We are delighted to welcome the globally beloved Eve Lom brand into our brand portfolio. Eve Lom is one of the best performing skincare brands famed for its profound brand heritage and unique formulas that combine luxury with high-performance results.

“The brand has developed an incredibly loyal following driven by its hero products such as the Eve Lom Cleanser, and demonstrated resilient sales and profitability even during COVID-19. We are excited to welcome Eve Lom’s passionate team with diverse international background in the fashion and beauty industry to enrich our global brand building capabilities and product offerings.”

Manzanita managing partner Andras Szirtes said: “Eve Lom has been part of the Manzanita family of brands for nearly 20 years and together we have been on an incredible journey of growth.

“We are proud to have watched Eve Lom’s development from a niche brand into a global business with a presence across North America, Europe and Asia. We are very excited about the opportunity to partner with Yatsen. We are convinced that Yatsen’s strong roots with Asian consumers, exceptional e-commerce capabilities and proven track record of innovation will further accelerate Eve Lom’s growth.”

Financo served as financial advisor in the transaction.