Core Insights - JuYi Group is expanding its brand portfolio beyond budget cosmetics by acquiring the Italian hair care brand Fengtian, indicating a strategic shift towards a multi-brand approach in the beauty market [1][3][4] Group 1: Acquisition Strategy - The acquisition of Fengtian includes its brand assets, global business network, supply chain, and R&D laboratory located in Italy, enhancing JuYi Group's strategic positioning in hair and scalp care [3] - JuYi Group has previously signed an acquisition agreement with the scientific skincare brand BaiZhiCui and established a long-term strategic partnership with Pierre Fabre Group to manage the Fouguede brand in China [3][4] Group 2: Market Positioning - JuYi Group aims to solidify its long-term value and differentiation across its brands while continuously seeking high-quality beauty and personal care brands for future acquisitions [4] - The company recognizes the need to diversify beyond its origins in budget cosmetics to remain competitive in the increasingly crowded beauty market [5] Group 3: Financial Performance - JuYi Group reported a retail revenue exceeding 30 billion yuan in 2023, with a year-on-year growth of 36% [6] - The company’s vision is to become a leading multi-brand beauty group in Asia, which has prompted a series of acquisitions from skincare to hair care [5][6] Group 4: Focus on Hair Care - JuYi Group is prioritizing the hair care sector, driven by increasing consumer awareness of hair and scalp health, and sees significant growth potential in this area [7] - The hair care market in 2023 was valued at 620.9 billion yuan, with expectations to exceed 660 billion yuan by 2025, indicating a steady growth trend [7][8]