09.14.23
The Estée Lauder Companies has made a minority investment in “clean” beauty startup Code Mint through its New Incubator Ventures (NIV)—its first-ever investment in a Chinese beauty brand.
Code Mint is owned by Hangzhou Jianfa Meixue Technology and founded by internet celebrity Grace Chow. The brand’s hero products include a cleansing balm with grape extracts, an amino acid cleanser and its caffeine-laced Iced Americano Sheet Mask.
The investment in Code Mint by Estée Lauder shows that foreign capital takes a positive long-term view of China's beauty market, especially of Chinese brands.
According to GlobalData, the Chinese makeup market is projected to grow from $5.9 billion in 2020 to $8.9 billion by 2025 at a CAGR of 8.3% through 2025.
Code Mint is owned by Hangzhou Jianfa Meixue Technology and founded by internet celebrity Grace Chow. The brand’s hero products include a cleansing balm with grape extracts, an amino acid cleanser and its caffeine-laced Iced Americano Sheet Mask.
The investment in Code Mint by Estée Lauder shows that foreign capital takes a positive long-term view of China's beauty market, especially of Chinese brands.
According to GlobalData, the Chinese makeup market is projected to grow from $5.9 billion in 2020 to $8.9 billion by 2025 at a CAGR of 8.3% through 2025.