Consumer Discretionary Author: Fuller Wang, Yuanxi Ma Editor: Fuller Wang May 24, 2022 01:00 PM (GMT+8)

Yanzhi, a men's skincare company, has completed its angel round funding, led by Hantan Capital. The money will go toward R&D, as well as expanding distribution channels and teams.

Cosmetics, medicine, beauty, women, her economy

As the key opinion leader (KOL) and influencer economy have significantly changed consumers' shopping habits, and more and more Gen-Z men have become open and comfortable with skincare, the male skincare market has grown in popularity.

Male cosmetic customers, unlike female customers, prefer products that can be used every day, such as concealer, which can hide dark circles and age spots. BB cream, cream foundation, brow pencils, and lipstick have become their go-to items. 

According to Kaola, the growth of Gen-Z men’s cosmetics consumption has outgrown that of women. Particularly, the growth of male consumers' consumption on foundation has doubled the growth of female consumers' consumption on foundation. For the eyeliner, the growth of male consumers' consumption has quadrupled the growth of female consumers'. According to Tmall and Cainiao's data, the number of stock for international cosmetics products increased by 3000% from year to year, during the 2020 Singles' Day (Double 11-day) period.

Yanzhi focuses on making skincare products for men that are more affordable, easy to use, and tailored to their specific needs. The company has expanded its sales channels on Taobao, Tmall, JD, Pinduoduo, and Douyin, as well as created brand personification and NFT, to engage more customers.

The male skincare market, according to Hantan Capital partner Richuan Xu, has a lot of potentials, and Yanzhi is doing well in the market with their specialized product, and investors are impressed with their team.