Established in 1993, Beauty Farm is one of the domestic brands with the longest history in the beauty care industry. The company is the largest daily facial and body care service provider in China, providing one-stop health and beauty management services covering body and skin care and anti-aging medicine
Shanghai Beauty Farm (Chinese: 上海美丽田园) recently filed for an IPO on the Hong Kong Stock Exchange, with Morgan Stanley, Haitong International Securities and Huatai International Securities as its joint sponsors.
Funds raised from this IPO will be used to expand stores and strategically acquire franchise stores, to improve internal digital operations and upgrade the IT system.
According to Beauty Farm’s prospectus, in the past three years, the company’s profit has grown at a steady pace. From 2019 to 2021, Beauty Farm reported revenue of CNY 1.4 billion (USD 212 million), CNY1.5 billion, and CNY 1.78 billion respectively, and the net profit totaled CNY147 million, CNY 152 million and CNY 208 million in the same reporting period. The firm’s net profit margin stood at 10% while the gross margin was around 50%.
The company's revenue mainly comes from three types of services: daily facial and body care, energy devices and injection, and anti-aging medicine. These three types of services lead to cross-sales, forming a closed-loop consumption ecosystem.
Beautiful Farm owns three emerging brands, namely Palaispa (Chinese:贝黎诗), CellCare (Chinese:秀可儿), and Neology (Chinese:研源), which cover the three above-mentioned categories of services.
As of December 31, 2021, Beauty Farm had a network consisting of 177 self-operated stores and 160 franchise stores across the country.
Apart from assuming the role as executive director of Beautiful Farm, Lian Songyong, 50, is also the co-founder and second-largest individual shareholder of the skin beauty technology brand Juva (Chinese: 欧华美科), holding 7.92% of the company.