L'Oréal Group announces investment in China's local high-end perfume and fragrance brand TO SUMMER

L'Oréal Group announced a minority investment in TO SUMMER. TO SUMMER, a local high-end perfume and fragrance brand in China, is inspired by Chinese oriental aesthetics, art and culture.

This investment further demonstrates L'Oréal's firm commitment and willingness to cooperate with Chinese beauty brands. This is an investment made by Shanghai Meizifang Investment Co., Ltd., a subsidiary of L'Oréal China, and supported by BOLD (Business Opportunities for L'Oréal Development), the strategic innovation venture capital fund company of the L'Oréal Group.

Mr. Fabrice Megarbane, Chief Global Growth Officer of L'Oréal Group, said: "Chinese consumers are almost the most demanding and sophisticated consumers in the world. When it comes to beauty, they desire a more personalized experience, thus driving the vigorous development of the perfume market. Nowadays, perfume has become one of the fastest growing categories. This investment in TO SUMMER is one of the L'Oréal Group's most important investments in the North Asian market in 2023. "

"Perfume is a carrier that connects beauty and emotion, and is the most expressive expression of culture. We hope to bring Chinese culture and art to consumers around the world, and promote oriental scents and spice ingredients to the international stage. We are extremely excited about this collaboration with TO SUMMER." Fabrice added.

Ms. Shen Li, founder of TO SUMMER brand, said: "Oriental fragrance is one of the most personalized expression vehicles chosen by contemporary Chinese consumers based on their cultural confidence and independent spirit."

"We hope that through our cooperation with L'Oréal, we can draw on its century-long expertise in R&D and innovation in the global beauty field to jointly promote an in-depth research and development plan for oriental fragrances and outline a blueprint for exclusive oriental fragrances. Bring more poetic and imaginative oriental art fragrances and oriental style, elegance and fragrance culture to the global market. "

TO SUMMER was founded in Beijing in 2018. It sells perfume, aromatherapy, shower gel and other products. The price of its perfume products ranges from 498 to 798 yuan. It currently has a total of 9 offline stores in Beijing, Shanghai, Shenzhen, Hangzhou, Nanjing and Chengdu.

However, TO SUMMER has only completed half of its offline layout plan in the past two years. Shen Li once said that her ideal total number of TO SUMMER stores is expected to be 13 to 15. The brand TO SUMMER only needs to do three things well. One is to make oriental incense made with oriental raw materials, the other is to explore more intangible cultural heritage handicrafts, and the third is to deepen the local culture of different cities through old buildings.