CITIC Capital Completes Investment in Chinese Perfume Brand RECLASSIFIED

RECLASSIFIED
RECLASSIFIED

The private equity arm of CITIC Capital Holdings announced that it has completed its investment in Shanghai Xiangmiao Trade, brand owner of RECLASSIFIED, via its third RMB-denominated China buyout fund.

The transaction marks the eighth completed acquisitions in the beauty and lifestyle sector in recent years and the on-going expansion of its exposure and footprint in the space.

Founded in Shanghai in 2013, RECLASSIFIED is a Chinese prestige perfumery house that has created a variety of iconic original scents featured in its extensive portfolio of products, including perfume, home fragrance, car fragrance, scented candles, and scented personal care products. The company runs over 100 retail outlets spanning 50 cities nationwide.

“The name RECLASSIFIED is a combination of ‘RE’ and ‘Classified’, illustrating our determination to differentiate and refusal to be classified. Each bottle of RECLASSIFIED fragrance has its own story and philosophy,” Mac LIN, CEO of RECLASSIFIED.

CITIC Capital believes in the long-term growth prospects of the beauty, personal care, and lifestyle sector, and will continue to look for attractive investment opportunities in the sector.

In addition to RECLASSIFIED, CITIC Capital’s investments in the related sector include: Erno Laszlo, a leading American premium skincare brand; Trilogy, a clean beauty brand from New Zealand; Axilone, a world-class cosmetics packaging provider; UCO, an e-commerce service provider serving premium beauty brands; ScentAir, a scent marketing solutions provider; Lifestyles/Jissbon and LELO, leading global brands in the intimate wellness sector.

Founded in 2002, CITIC Capital is an alternative investment management and advisory company. The firm manages over USD32 billion of capital across 100 funds and investment products through its multi-asset class platform covering private equity, real estate, structured investment & finance, and asset management.

CITIC Capital has over 200 portfolio companies that span 11 sectors and employ over 800,000 people around the world. Its PE arm focuses on control buyout opportunities globally and has completed over 79 investments in the past years in China, Japan, US, and Europe. – BusinessNewsAsia.com