What will China’s answer to Estée Lauder look like in the digital age?
According to Ushopal, it will provide a seamless online and offline shopping experience, where China’s savvy beauty shoppers get to discover niche, tasteful brands and learn their stories.
Ushopal was founded in 2017 by J&J veteran Lu Guo as an “omni-channel” partner for luxury beauty brands at a time when online and offline consumption were increasingly merging in China. Unlike traditional import distributors, which simply puts goods on the shelves, Ushopal offers a holistic solution that helps brands develop their digital and brick-and-mortar retail channels as well as marketing content through its network of 2,500 influencers.
Ushopal felt that partnerships weren’t enough, so in 2019, it took a step further by adding a strategic investment arm to seek deeper operational influence on brands. Check sizes range from $10 million to $100 million, and for the larger rounds, Ushopal says it can leverage its own investors such as Cathay Capital, a private equity firm focused on global companies.