Dewy Lab testifies to the rise and development of clean beauty in China

Three Rounds of Funding Completed in 1 Year Since Launch

SHANGHAI,May 20,2022 -- Dewy Lab,China's first clean beauty brand,announced that it has completed three rounds of financing within a year. The latest Pre-A round,which has raised more than ten million USD,is led by the premier investment firm Huachuang Capital and followed by China's largest lifestyle content platform Xiaohongshu. It is a testament to clean beauty's rise and growth in China.

The clean beauty revolution first began in Europe and North America in 2015. By 2021,it has reached more than 20% of the global beauty market. With many notable brands such as Drunk Elephant,Lush,and Farmacy,it is now the hottest focus in the industry.

In January 2021,Dewy Lab debuted with its first collection. With its slogan "Makeup for Skin Lover",Dewy Lab has promoted a User-Friendly,Life-Friendly and Environment-Friendly initiative to become the top makeup choice for every skin-lover.

Within a year,Dewy Lab's popularity and revenue have skyrocketed. Its online sales exceeded 5 million within six months and went up to 50 million in one year,with more than 100,000 registered accounts. The biggest group of Dewy Lab customers,young women aged 25-35,have shown extremely high brand loyalty. During the same time period,the brand has established its reputation in three areas: foundation cream,loose powder and concealer,with monthly sales of up to 5 million and over 200 RMB per customer transaction. Dewy Lab's concealer products sat at the top of both sales and customer satisfaction rankings in the Tmall March 2022 sales event,and its foundation cream received the 2021 ELLE Beauty Award. Having earned an outstanding reputation,Dewy Lab has become a leader in China's clean beauty market.

Although there is still no global consensus regarding the exact definition of "Clean Beauty",the concept originated with the company Goop,which describes it as "a non-toxic product that is made without a long,ever-evolving list of ingredients linked to harmful health effects."

In China,the emphasis on non-toxic ingredients has found its audience through the "sensitive skin care" community. 2018 saw the rise of an "ingredient-conscious" consumer base in China. After being educated about the need for sensitive skin care,consumers began to consciously choose skincare products that are both less irritating and more effective. Mintel research finds that 77% of Chinese consumers believe clean beauty products to be safer than regular beauty products.

There are about 200 million Chinese women who have sensitive skin,and more than 90% of them wear daily makeup. It is only natural that the cosmetic market is shifting towards sensitive skincare products,a trend that has fueled the rapid growth of Dewy Lab.

The challenge of clean beauty lies in balancing between pure ingredients and great efficacy. Dewy Lab sees R&D as the driving force behind product innovation,its investment is far above the industry average level. Right from the start,the company recruited scientists trained in prestigious international institutions such as the University of Pennsylvania and Cambridge University,helped to develop a Dewy Lab Clean Beauty Standard (DCBS). Using this rigorous set of standards,Dewy Lab has eliminated ten categories and more than 70 controversial cosmetic ingredients from all of its products. In midyear 2022,Dewy Lab established a lab with Shanghai Jiao Tong University,one of China's top universities,in order to further foundational research and technology development of clean beauty product ingredients. It has also collaborated extensively with global ODM leader Intercos Group to create exclusive clean beauty formulas.

Dewy Lab currently holds numerous patents in both formulae and applications. For example,Dewy Lab's foundation does not contain the controversial and harmful D5 (cyclopentasiloxane) by replacing it with its self-developed TC-Summit technology. For loose powder,it has replaced the controversial carcinogen talcum powder with its self-developed "Velv-Rime" ingredients while achieving a stunning finish.

Endorsed by China's top capital and consumer goods platforms,Dewy Lab is a testament to clean beauty's rise and growth in China. Looking into the future,it will maintain its excellence in all aspects of R&D,product innovation and marketing. It is committed to long-term brand development through all platforms and channels distribution as well as expansion into overseas markets.

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