Reporter | Chen Qirui
Edit | Lou Shuqin
1
According to 36Kr, local hair care brand "Spes Shi Peisi" (hereinafter referred to as "Shi PeiSi") recently received a Series A financing of RMB 200 million, led by China Renaissance Capital's China Renaissance New Economy Fund, with Light Source Capital acting as the exclusive financial advisor. The proceeds of the financing will be used for the R&D and marketing of Sipeth to deepen its product layout in the fields of washing, ironing and dyeing and styling.
Founded in April 2020, Tianyancha publicly available information shows that its parent company is Zhejiang Haomai Technology Co., Ltd. Founder Zheng Rujing has held important positions in NetEase Yanxuan and has deep experience in retailing and e-commerce of daily chemical products. The average selling price of Shi Peisi products is mostly between 100 yuan and 200 yuan, and it has now entered online channels such as Tmall and Douyin e-commerce, and has also been laid out in offline supermarkets such as Hema, Xilan and Colorist, as well as beauty collection stores.
Like many new local consumer brands, Shi Peisi also takes the route of breaking through the explosive products of the subdivision track. Sea Salt Hair Balm and Leave-in Fluffy Spray are Speis' star pieces. According to the brand's official data, the total sales of these two products have exceeded 3 million bottles and 6 million bottles respectively since they were launched.
36Kr said in the report that Shipes' sea salt cleansing cream has created a cleansing cream track, and the no-wash fluffy spray has led to a 2630% increase in dry hair spray sales. At the same time, in november 2021, in the total sales of shampoo and no-wash fluffy spray categories, Shi Peisi accounted for more than 85% and 96% respectively.
Image source: Weibo @Spes Shi Peisi
But from another point of view, Sipes can occupy a large share, partly because she is the first entrant in this nascent track, and it is also one of the few players who have made a scale. However, in the entire head care market, overseas brands still dominate. These brands have more budgets to support R&D and marketing, and adding hair creams and leave-in spray tracks will put pressure on local brands.
According to the "2021 National Scalp Health White Paper" (hereinafter referred to as the "White Paper") released by CBNData, the growth rate of the scalp health care market in 2020 is 1.7 times higher than that of the ordinary washing consumer market, and the price of related products is 1.5 times higher. Affected by income levels and changes in social perceptions, consumers' hair care needs are no longer limited to cleaning, moisturizing, strengthening and anti-shedding are included in the factors considered when purchasing.
Falling on the specific consumption performance, the sales of scalp nutrition serum, scalp pre-washing, conditioner, ampoule and hair mask have increased to varying degrees in recent years. According to the white paper, scalp pre-washed products and essential oil products grew the fastest year-on-year, but the overall scalp care market is still not saturated.
Image source: Sina Weibo @Olaplex official Weibo
Even overseas, scalp care is a fast-growing and promising market. After the establishment of the emerging American skincare brand Olaplex in 2014, it has launched professional salon and regular hair care products for offline hair salons and general consumers.
In August 2020, Olaplex began to enter the Chinese market relying on the Tmall and Xiaohongshu platforms. In order to fit the marketing trend of the Chinese market, Olaplex then selected Zhou Keyu, a member of the variety boy band, as the brand ambassador. On Olaplex's Tmall ship store, the average price of its products is more than 200 yuan.
In the first half of 2021 alone, Olaplex's sales increased by 171% year-on-year. In September 2021, olaplex, an emerging U.S. skincare brand, was listed on the NASDAQ with a market capitalization of $15.88 billion and a price-to-earnings ratio of more than 150 times.
In addition to Olaplex, L'Oréal and unilever are also launching targeted scalp care products. Previously, Interface Fashion reported that L'Oréal's hair care brand Kashi and Unilever's Qingyang have launched niacinamide-based hair care products, and cleaning and dandruff removal are no longer the only selling points.
In order to cope with the increasingly competitive scalp care track, Shi Peisi embarked on the route of expanding the category and launched a new hair coloring product with the Japanese research and development team. In addition, Shi Peisi also began to build its own research and development center and supply chain system in order to integrate a more efficient operating model.