{"id":17519,"date":"2023-04-07T13:00:00","date_gmt":"2023-04-07T13:00:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4063726_AE63726_0"},"modified":"2023-04-07T13:00:00","modified_gmt":"2023-04-07T13:00:00","slug":"joy-group-announced-full-year-2022-financial-results","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=17519","title":{"rendered":"JOY GROUP Announced Full Year 2022 Financial Results"},"content":{"rendered":"
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SHANGHAI<\/span>, April 7, 2023<\/span> \/PRNewswire\/ — Juyi Cosmetics Co., Ltd. (“JOY GROUP”), a leading multi-brand China<\/span>-based cosmetics company, has announced its financial results for FY2022, with annual revenue reaching USD256.7 mn<\/span> (RMB1.8 bn<\/span>), and estimated GMV reaching USD313.8 mn<\/span> (RMB 2.2bn<\/span>), up c. 30% year-on-year. The company has secured strong double-digit revenue growth and sustainable profitability for consecutive years, confirming its leading position among the China<\/span> domestic beauty players.<\/p>\n

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Established in 2017 and headquartered in Shanghai<\/span>, JOY GROUP has evolved into a multi-brand beauty company with digital first DNA and omnichannel expertise. With a direct-to-consumer approach, JOY Group now operates a network of flagship stores on major ecommerce platforms, and 25+ offline monobrand boutiques. Over 60 million consumers in total were served through JOY GROUP’s DTC channels. The company also collaborates with key retail partners to operate 6,000+ point-of-sales all over the country.<\/p>\n

The company encompasses two iconic cosmetics brands, JUDYDOLL and JOOCYEE, selling two products every second in 2022. JUDYDOLL caters to a colorful, sweet and fun lifestyle, ranking No. 2 brand in the domestic cosmetics category on Douyin (TikTok China). JOOCYEE exudes a modern, romantic and tailored style for Asian female consumer. The brand now ranks No.1 in domestic lipstick category and No. 6 within the domestic cosmetics category on Tiktok China, and the size of business has grown 7 times in past two years.<\/p>\n

JOY GROUP has built its integrated end-to-end supply chain capability from R&D, procurement, production, inventory to delivery. In 2022, the company has fully acquired and integrated a cosmetics manufacturer located in Shanghai<\/span>, with strong innovation capability in cosmetics, skincare and perfumery. The integration of in-house R&D lab, factory, e-commerce operation, retail stores and marketing hubs, enables JOY GROUP to remain agile and responsive amidst the fast evolving beauty market in China<\/span>.<\/p>\n

JOY GROUP is backed by leading investors from both global and local backgrounds. Existing investors include General Atlantic, Tencent<\/span>, and Shunwei Capital (co-founded by Lei Jun, the founder and CEO of Xiaomi).<\/p>\n

JOY GROUP has been proactively expanding to overseas markets since 2020. In 2022, JUDYDOLL was widely gaining popularity from consumers in Japan<\/span> and Malaysia<\/span>, benefiting from its emerging presence in local offline channels with high price-to-value portfolio offerings. While JOOCYEE achieved an important milestone: penetrating its 600th store overseas, with its footprint expanding beyond APAC (mainly Japan<\/span> and Australia<\/span>) to Canada<\/span>.<\/p>\n<\/p><\/div>\n

Source: Shanghai Juyi Cosmetics Co., Ltd.<\/p>\n","protected":false},"excerpt":{"rendered":"

SHANGHAI, April 7, 2023 \/PRNewswire\/ — Juyi Cosmetics Co., Ltd. (“JOY GROUP”), a leading multi-brand China-based cosmetics company, has announced its financial results for FY2022, with annual revenue reaching USD256.7 mn (RMB1.8 bn), and estimated GMV reaching USD313.8 mn (RMB 2.2bn), up c. 30% year-on-year. The company has secured strong double-digit revenue growth and sustainable […]<\/p>\n","protected":false},"author":8,"featured_media":17520,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-17519","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"\nJOY GROUP Announced Full Year 2022 Financial Results - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=17519\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JOY GROUP Announced Full Year 2022 Financial Results - My Blog\" \/>\n<meta property=\"og:description\" content=\"SHANGHAI, April 7, 2023 \/PRNewswire\/ — Juyi Cosmetics Co., Ltd. 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