The Chinese investment arm of L’Oreal, Shanghai Meicifang Investment, has purchased a small stake in the high-end Chinese fragrance brand, Documents.
The Chinese brand has also received investment from Cathay Consumer Co-creation Fund, which was co-established by Cathay Capital, Kering, L’Oreal and Pernot Ricard. The money invested is set to be used for product development, business operations, and also to aid in Document’s international growth.
The company was founded last year by Zhaoran Meng and has become renowned for its rebellious, dark and mysterious image that displays unique store designs that target the high-consumption Gen Z and Millennials. Currently the brand operates three stores in the country.
Fabrice Megarbane, President of L’Oreal North Asia and CEO of L’Oreal China, said the founding of Meicifang reflects the group’s “long-term confidence” in China and Chinese beauty brands and its confidence in the increasingly optimised business environment in the country.
