Three years after joining the Yatsen group, Galénic is reporting promising results, with a six-fold increase in sales in 2024. With the 2021 purchase, the Chinese investor, owner of the Perfect Diary (完美日记) makeup brand, aimed to enter the world of high-end skincare.
“Yatsen is a group that is little known in Europe, but very influential in China, thanks to the revolution they brought about in makeup, with Perfect Diary”, explains Sarah Michel-Stevens, Managing Director of Galénic Cosmetics Laboratory.
“To enter the world of high-end skincare, they wanted to acquire an exclusively French brand that guaranteed 100% made-in-France quality, not only for Chinese consumers, but also for the global market. We have always kept this uniquely French anchoring.”
The Pierre Fabre Group remains a shareholder in the brand, to ensure Galénic’s French expertise and heritage are maintained, while benefiting from the resources and approach of the Yatsen Group.
Scientific and technical investment
Still based in Toulouse, Galénic has set up its own R&D centre and outsources production to a service provider based in France.
“Product development is carried out exclusively in our research centre, by teams specialized in each area: formulation, clinical trials, regulatory affairs, etc. We also invest heavily in science and research, working with prestigious institutions such as the Saint Louis hospital in Paris and CNRS, the French National Centre for Scientific Research. We believe that progress in science and innovation is based on collective work,” adds the Director.
This investment was illustrated by the creation in September 2023 of a dermatology research fund designed to raise standards of knowledge in this field and to reward the most innovative research projects in dermatology.
In 2021, Galénic launched the Galeniceuticals skincare range: the first product, which boasts a 20% vitamin C concentration, quickly became a bestseller. The brand is now about to market a new generation of vitamin A and retinol-based products resulting from scientific collaboration and investment, as an illustration of its commitments.
Gaining new market share
A flagship of the French cosmetics industry for 45 years, Galénic has conquered the Chinese market with its upmarket, scientific positioning, relying mainly on the online channel, based on the business model developed by Yatsen. But it now aims to establish itself as a global player, increasing its visibility through a physical presence in strategic points of sale all around the world.
“China is now the world’s largest luxury market, and it remains crucial for us. We plan to strengthen our position in this country by entering new distribution channels, while actively exploring opportunities in other dynamic international markets, where demand for luxury goods is booming,” says Sarah Michel-Stevens.
In addition to consolidating its presence in the Chinese market, Galénic’s growth strategy is therefore based on diversified distribution, with plans to open flagship stores and corners in luxury department stores, as well as to be present in travel retail stores.
The Managing Director has also announced the opening of a first shop by the end of 2024, without yet specifying a location.
“Thanks to Yatsen’s innovative business model and to the resources made available to us, we can work to make Galénic a global cosmetics brand, combining our French heritage and our ability to innovate,” concludes Sarah Michel-Stevens.
