(Hong Kong, 22 January 2021) Private equity arm of CITIC Capital Holdings Limited (“CITIC Capital”) is pleased to announce that it has completed its investment in Shanghai Xiangmiao Trade Co., Ltd., brand owner of RECLASSIFIED (“RE” or “the Company”) via its third RMB-denominated China buyout fund on 18 January 2021. The transaction marks the eighth completed acquisitions in the beauty and lifestyle sector in recent years, and the on-going expansion of its exposure and footprint in the space.
Founded in Shanghai in 2013, RECLASSIFIED is a leading Chinese prestige perfumery house that has created a variety of iconic original scents featured in its extensive portfolio of products, including perfume, home fragrance, car fragrance, scented candles, and scented personal care products. The company runs over 100 retail outlets spanning 50 cities nationwide, offering customers extraordinary experience with scents and senses.
Mac LIN, CEO of RECLASSIFIED, said: “The name RECLASSIFIED is a combination of ‘RE’ and ‘Classified’, illustrating our determination to differentiate and refusal to be classified. Each bottle of RECLASSIFIED fragrance has its own story and a philosophy. Since its establishment, the brand has vowed to work only with world-leading perfumers and developers to create high-quality, original fragrances and genuine experiences that are unique to Chinese consumers. We are committed to bridging interesting culture, upholding individuality, and expressing freedom for our consumers.”
Hanxi ZHAO, Senior Managing Director of CITIC Capital, said: “Consumers in China today have high aspiration for better lifestyle. This aspiration has stimulated the rapid development of related sectors. The growth of the perfume and fragrance sector has been particularly strong, with iconic brands such as RECLASSIFIED emerging in China. RE has a deep understanding of the needs of Chinese consumers and takes pride in its strong heritage in world-class product development. RE also has a strong offline retail network and online presence, enabling the brand to reach a broad consumer base through different channels. We are excited to be working with the young and passionate team of RECLASSIFIED and look forward to witnessing the rising of an authentic Chinese trendsetter in the perfume and fragrance sector.”
CITIC Capital believes in the long-term growth prospects of the beauty, personal care and lifestyle sector, and will continue to look for attractive investment opportunities in the sector. In addition to RECLASSIFIED, CITIC Capital’s investments in the related sector include: Erno Laszlo, a leading American premium skin care brand; Trilogy, a clean beauty brand from New Zealand; Axilone, a world-class cosmetics packaging provider; UCO, an e-commerce service provider serving premium beauty brands; ScentAir, a scent marketing solutions provider; Lifestyles/Jissbon and LELO, leading global brands in the intimate wellness sector.
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Note: PricewaterhouseCoopers and Haiwen & Partners provide financial and legal advisory services to CITIC Capital respectively.
About Shanghai Xiangmiao Trade Co., Ltd.
Established in Shanghai in 2013, Shanghai Xiangmiao Trade Co., Ltd. owns “RECLASSIFIED”, a leading Chinese prestige perfume and home fragrance brand. The brand is renowned for its perfume, home fragrance, car fragrance, scented candles, scented personal care products. The company currently runs more than 100 retail outlets spanning 50 cities in China. For details, please visit www.reclassified.cn
About CITIC Capital
Founded in 2002, CITIC Capital is an alternative investment management and advisory company. The firm manages over USD32 billion of capital across 100 funds and investment products through its multi-asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 200 portfolio companies that span 11 sectors and employ over 800,000 people around the world.
CITIC Capital’s private equity arm focuses on control buyout opportunities globally and has completed over 79 investments in the past years in China, Japan, U.S. and Europe. The private equity arm currently manages USD7.6 billion of committed capital. For more information, please visit www.citiccapital.com.
For media enquiries, please contact:
Cindy TAM
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
cindytam@citiccapital.com
Irene GAO
Senior Associate, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6814
irenegao@citiccapital.com
(Hong Kong, 11 January 2021) Private equity arm of CITIC Capital Holdings Limited (“CITIC Capital”) is pleased to announce that it has invested in Max-Inf Holdings Limited ( “Max-Inf” or “the Company”). Leo XU, founder and chairman of Max-Inf, will continue to lead the Company in its next phase of growth.
Founded in 1998 and based in Ningbo and Shanghai, China, Max-Inf is the leading Chinese brand operator and manufacturer in safety technology leading the way in innovative car seats, strollers, travel systems and other baby care related products. Max-Inf’s portfolio of brands include Baby First, Savile, Eurokids, as well as being the long-term exclusive China distributor for Britax, the leading global brand for baby travel safety systems.
Leo XU, founder and chairman of Max-Inf, says: “The mission of Max-Inf has always been bringing the safest baby travel systems to Chinese families. Today, Max-Inf and the multiple brands that it owns and distributes, have become the ultimate choices for parents in China as they try to find the most reliable, trust-worthy and innovative travel systems for their children. Max-Inf holds the highest standard in product quality, and leverages cutting-edge technology in the world in our product design and development. With the support from CITIC Capital, the Max-Inf team is committed to continuing to innovate and to provide best-in-class baby safety and baby care products for families in China.”
Hanxi ZHAO, Senior Managing Director of CITIC Capital, says: “Baby care market in China is an exciting space with increasing consumer sophistication and awareness around child safety. Max-Inf is the leading player in providing the most reliable and innovative mobility-related safety solutions and products. Its products have gained respect and trust from peers, and has a proud history of serving children globally. We are very excited to become the partner of Leo and his talented and passionate management team in the next stage of Max-Inf’s journey. We look forward to seeing more families and children enjoy safe and sound outings.”
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Note: Haiwen & Partners served as legal counsel to CITIC Capital. Fangda Partners and Albright Law Firm acted as legal counsel to the founder.
About Max-Inf
Max-Inf is a leading child safety seats and other travel systems manufacturer in China, with more than 20 years of experience in designing and manufacturing mobility related products. Max-Inf offers a full range of child car seats and other travel products that meet various international standards, which are sold to over 50 countries and regions around the world. In China, Max-Inf’s own brand Baby First is the largest domestic carseat brand and Max-Inf has been the exclusive distributor for Britax, the leading global brand for carseats and strollers. It also owns and operates the Savile and Eurokids brands, providing various child safety related products. For further information about Max-Inf, please visit www.max-inf.com.
About CITIC Capital
Founded in 2002, CITIC Capital is an alternative investment management and advisory company. The firm manages over USD32 billion of capital across 100 funds and investment products through its multi-asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 200 portfolio companies that span 11 sectors and employ over 800,000 people around the world.
CITIC Capital’s private equity arm, CITIC Capital Partners, focused on control buyout opportunities globally, has completed over 78 investments in the past years in China, Japan, U.S. and Europe. The private equity arm currently manages USD7.6 billion of committed capital. For more information, please visit www.citiccapital.com.
For media enquiries, please contact:
Cindy TAM
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
cindytam@citiccapital.com
Irene GAO
Senior Associate, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6814
irenegao@citiccapital.com