January 29, 2023

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HARMAY, a Chinese language new retail emblem focusing on cosmetics, introduced its finishing touch of a C spherical and D spherical of financing totaling $200 million. Within the C spherical, the lead investor used to be Basic Atlantic, and co-investors have been Japanese Bell Capital, Hillhouse Capital, Ocean Hyperlink, N5Capital and BA Capital. Within the D spherical, the lead investor used to be QY Capital, and co-investors have been Japanese Bell Capital, Basic Atlantic, N5Capital and Ocean Hyperlink.

Tianyancha.com means that HARMAY has now finished 4 rounds of financing, attracting funding from many distinguished establishments.

HARMAY began from on-line trade and in 2017 opened its first offline retailer on Shanghai’s Anfu Highway, a location well liked by consumers and pedestrians. In 2019, the good fortune of its Sanlitun retailer in Beijing made it an actual hit within the cosmetics trade, gaining the desire of capital markets.

Prior to now, HARMAY has 9 offline retail outlets, sells greater than 400 famed manufacturers and in a foreign country area of interest manufacturers and over 9,000 SKUs. In 2021, it performed cooperation with any other 100 manufacturers – that is basically how HARMAY distinguishes itself from its competition.

Damien, Founding father of HARMAY, says the per thirty days gross sales quantity of its Sanlitun retailer reached as prime as 15 million ($2.37 million) at its height, and ranks on the best in offline retail outlets in China from the facet of gross sales in step with sq. meter. The bigger gross sales scale additionally endows HARMAY a better dating with global giant names.

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Subsequent, HARMAY plan to open retail outlets in Wuhan, Guangzhou, Shenzhen, Aranya in Hebei province, and different areas. As well as, HARMAY retail outlets aren’t restricted to good looks assortment.

For instance, there are lots of non-cosmetic SKUs within the company’s Wukang Highway Retailer. It has espresso, sizzling canine, bottled beverages, snacks, beverages, puppy merchandise and extra small family home equipment than different retail outlets.