Kans parent company sees 300% profit surge in H1 2024
Chicmax Cosmetic, the parent company of leading domestic beauty brand Kans, reported a 120.7% increase in sales, reaching 3.5 billion RMB ($485 million), and a 308% surge in profit, totaling 412 million RMB ($57 million) for the first half of 2024. Notably, Kans saw its sales skyrocket by 184.7% to 2.93 billion RMB ($400 million). Online self-operated sales grew by 179% to 2.75 billion RMB ($380 million), driven by strong performance on Douyin and Tmall, while offline retail sales decreased by 14.5% to 160 million RMB ($22 million). Kans continued to lead in the beauty sector on Douyin, with substantial growth also recorded on Tmall and JD.com.