MAOGEPING is finally going public.
After five years of IPO runs, on October 21, Mao Geping Cosmetics Co., Ltd. (IPO58654, referred to as "Mao Geping") made its debut, which also means that Mao Geping has taken the last step of listing.
On a variety show two years ago, musician Zang Hongfei mentioned Li Jiaqi, who had just begun to catch fire, saying that he was "the first beauty blogger".
At this time, Peng Lei of the new pants band came to a soul question: "Isn't that Mao Geping?" ”
The three words "Mao Geping" suddenly pulled us back to the golden age of Chinese TV dramas, and the classic makeup that amazed the years has long been deeply embedded in our memories.
Even Li Jiaqi himself said when he brought goods on the live broadcast: "You can't know me, but you can't not know Mao Geping." ”
You may not have used Mao Geping cosmetics, but you cannot be unaware of Mao Geping; even if you do not know Mao Geping, you must be impressed by his works.
First, a man who laid the foundation for the aesthetics of ancient Chinese style
Mention Mao Geping, you have to mention the 1995 version of the TV series "Wu Zetian" that made him famous in Huaxia.
As Liu Xiaoqing's royal makeup artist at that time, he single-handedly took over the makeup of Wu Zetian's youth, middle age and old age.
You know, at that time, Liu Xiaoqing was 45 years old, playing a middle-aged Wu Zetian can be convincing, the elderly, especially teenagers, it is extremely difficult, one is to rely on acting skills, the other is to see makeup.
And Mao Geping completed the task perfectly, even beyond the standard.
Girl's Delicacy:
Obsessive Grudges:
Luxurious elegance:
All of them fit perfectly with Liu Xiaoqing's performance.
The makeup of other women in the play is basically the most beautiful moment of their careers. For example, Shangguan Wan'er, played by Ru Ping, and Helan Shi, played by Miao Yiyi:
For example, Li Jianqun, who is also the costume designer of this play, plays Xu Hui:
Some viewers once commented on the women's makeup in "Wu Zetian":
"This makeup of theirs is the Big Tang style I imagined, not only to beautify a beautiful woman so simple, but also to transform their own charm, this drama should be the peak of Mao Geping's makeup technology!"
I especially like their eyebrows, eyes and lip gloss, and the makeup of the current TV series is still very different, this makeup is very oriental beauty. ”
The eccentric Li Yuhu played by Huang Yi in "Marrying the Wrong Flower Car to the Lang", and Du Bingyan, played by Li Jiaxuan, who is gentle and gentle, are also from the hands of Mao Geping, which can be called the peak of the two people's appearance:
To the makeup of Liu Yifei, the "immortal sister" in the "Eight Parts of the Heavenly Dragon", Mao Geping even restored the "apricot eyes and peach cheeks" mentioned in the ancient books to the people. In the flow of eyes, the ancients sincerely did not deceive me:
One of Mao Geping's most horrific operations was his attempt in the 1996 Yue opera film Meng Lijun.
Wang Wenjuan, a 70-year-old veteran artist at the time, had to play a role as a 17-year-old, which was undoubtedly a hellish challenge for makeup artists.
But Mao Geping actually achieved this incredible effect like a "head change":
So much so that the director and Wang Wenjuan's husband, Mr. Sun Daolin, is saying: "I feel that I am not directing the play for my wife, but for my granddaughter." ”
Second, from top makeup artists to beauty entrepreneurs
In today's life, most girls who love beauty will wear makeup. But to turn the "makeup" thing from an everyday act into an art, Mao Geping spent more than twenty years.
When he was five or six years old, Mao Geping began to copy the picture of the lady under the influence of his sister, and he also had a vague understanding of the woman's facial makeup.
In 1977, he was admitted to the Zhejiang Art School, specializing in opera performance. However, due to coincidence, after graduation, Mao Geping was exposed to theatrical makeup, and since then, he has become a makeup artist.
In the decades of makeup career of the crew, Mao Geping has explored a set of "Mao's makeup methods" that belong to him. This approach is not static, but varies from person to person because he firmly believes that "every woman looks different".
Mao Geping pursues "beautifying according to each person's own characteristics, rather than a thousand people", and puts forward the essence of makeup: "We must grasp the trend of our bones and skin growth, and cover up the most obvious shortcomings." ”
He doesn't think the purpose of makeup is to pursue perfection, "with a little asymmetrical face more vivid".
Relying on his own pair of "magic hands" and extremely high aesthetic power, Mao Geping played a piece of the sky. However, at the time when he was at his peak, Mao Geping quit the makeup of film and television dramas and chose to become an entrepreneur.
Compared with the entertainment industry with fame and fortune, starting your own business is undoubtedly more arduous. He opened the image design art school named after himself and started teaching.
But in the process of teaching students, Mao Geping found it difficult to find a cosmetics that was perfectly suitable for teaching demonstrations. Since there is none, why not make one yourself? This thought in Mao Geping's heart began to take root.
In 2000, Mao Geping founded his own cosmetics company. From the school to the company, Mao Geping has not found any star endorsements, and the three words "Mao Geping" are themselves the biggest brand effect.
In 2003, Mao Geping brought his cosmetics brand Mao Geping (MAOGEPING) to the mall in Hangzhou, but the ambitious mao came up and ate the closed door, and there was no counter in the mall willing to sell his goods.
Mao Geping was not discouraged, he felt that he could not hang himself from a tree, so he turned to Shanghai.
In a 9-square-meter compartment in the Grand Gateway mall, Mao Geping opened and became the only domestic brand in this high-end department store.
His persistence paid off, and in the first month, the brand's sales reached 190,000 yuan, and in a year, 9 months won the top of the mall.
This increased Mao Geping's confidence and began to be widely distributed throughout the country. Shopping malls such as Hangzhou Yintai, Chengdu Ito-Yokado, and Chongqing Department Store can be seen one after another.
In 2010, Puhua Capital and Jiuding Investment jointly completed the first round of investment in Mao Geping, which is also the largest amount in public data. This proves that the capital at that time was very optimistic about the domestic beauty potential of MAOGEPING.
Third, the successful listing is only the first step in Mao Geping's long march
Mao Geping has reached the peak of domestic makeup artists in his personal achievements: he has served as a makeup styling designer for the opening ceremony of the Beijing Olympic Games, made up for the then President of the International Olympic Committee, Rogge, and won the National Feitian Award for Best Art Design...
In terms of brand building, MAOGEPING mainly focuses on high-end, relies on offline sales, and soon spreads the market. In 2015, Mao Geping ranked eleventh in the domestic market of high-end makeup products sold through department store channels.
But on the road to listing, Mao Geping did not go smoothly. The prospectus was filed in 2016, but the IPO was suspended in 2017. After that, mao Geping was silent for four years regarding the listing.
Combined with the Chinese beauty market and the MAOGEPING prospectus, the reasons for Mao Geping's IPO are roughly as follows: one is the complex distribution system, and the other is the excessive comprehensive gross profit margin.
The first is a complex distribution system or there are control risks. Mao Geping's product structure is mainly composed of high-end brand MAOGEPING and low-end brand Love Life, the former is dominated by the counter direct operation model, and the latter is a layered distribution system.
Due to the low threshold of dealers and the limited energy of the brand itself, the complex network behind the dealers is often unable to achieve "everything in detail", which also leads to the risk of the lifelong growth of the beloved - the climb in the difficulty of management.
There is also a consolidated gross profit margin of nearly 80%, which far exceeds the foreign big names L'Oréal, Shiseido and L'Occitane at that time, which has aroused the questions of the CSRC.
But this is actually the inevitable result of the "Mao Geping model". In addition to the "domestic demand" blood supply of training schools, MAOGEPING also relies on its positioning of high-end beauty.
Unlike other domestic products that focus on "cost performance", MAOGEPING's customer base is mainly professional beauty professionals with certain consumption power. And because this group of people is less sensitive to prices, it also raises the unit price of customers and thickens their profit margins.
To some extent, Mao Geping belongs to the "outlier".
On the one hand, as an old brand with a history of more than 20 years, Mao Geping does not have its own beauty infrastructure and still relies on foundry production. This has led to a weak product controllability and brand anti-risk ability.
On the other hand, compared with the new beauty brands that are keen to burn money to market and gain customers, Mao Geping is more cautious and restrained in brand promotion. The above two points further reduced the cost input of Mao Geping.
Behind the high gross profit, whether the "Mao Geping model" that lacks a moat can be sustained is the real concern of investors and shareholders after the future listing.
Mao Geping is very good at using his own IP effect as a brand platform, he also knows how to step on the pulse of the era of "national tide rejuvenation", and join hands with the Forbidden City Cultural Creation to launch the "Qiyun Oriental" series of products.
The video he posted on the B station further consolidated his status as a "magic makeup artist", and the bullet screen was full of praise.
But this national makeup master from Wenzhou, who has long been famous, will inevitably face the challenge of "starting from scratch" at a higher starting point from the day of listing.