Based in Shanghai, JOY GROUP is a leading multi-brand beauty company in China and recently announced its 2024 financial results, showcasing remarkable sales of over US$580 million and 36% annual revenue growth .
JOY GROUP’s consistent double-digit expansion has been matched by healthy profitability, solidifying its leadership in the region. Broad-Based Category Growth In 2024 , JOY GROUP reported significant growth across a diverse range of beauty categories. Within the makeup sector, the company has established
itself as the No.1 domestic firm by market share in China . Its flagship makeup line , JUDYDOLL , stood out as the No.1 makeup brand in China by sales volume, with retail sales topping US$345 million (RMB 2.5 billion) , a 23% increase over the prior year. JOY GROUP’s haircare division also expanded strongly.
The group assumed full operations of René Furterer , a high-end French haircare brand , in China beginning January 1, 2024 . The brand responded with robust growth, highlighted by a 72% revenue increase in the second half of the year, a performance attributed to JOY’s strong local acumen and execution.
Omnichannel Reach and Retail Presence Continuing to advance its omnichannel strategy, JOY GROUP balanced a direct-to-consumer ecommerce approach with physical retail expansion. The company operates over 8 0 standalone brand boutiques across its portfolio in China and maintains a presence in more than 15,000 retail locations .
Allan Liu, Chairman & CEO of JOY GROUP , summarized the company's 2024 journey: “In 2024 , we successfully expanded from makeup into haircare, and from mass to premium markets. The 2024 result strongly validates our multi-brand strategy across categories…
