Chinese cosmetics brand Hi!Papa has successfully closed a Series A+ funding round, with L Catterton leading the investment. The financial terms of the funding round were not disclosed, but the capital injection will support Hi!Papa, a Gen Alpha-focused brand, in scaling its presence in China’s rapidly expanding kids’ personal care market.
Over the past four years, the Chinese kids’ personal care market has experienced an annual growth rate of approximately 12%, projecting to reach a value of RMB 52 billion by 2026.
Hi!Papa Founder and CEO Jiangsheng Xuyu expressed the brand’s commitment to providing safe, gentle, and effective skincare solutions tailored to the unique needs of school-age kids in China. With the support of L Catterton’s operating capabilities, Hi!Papa aims to build its brand, diversify its product offerings, and expand its distribution network.
Scott Chen, Managing Partner in L Catterton’s RMB fund, highlighted the emerging demand for products meeting children’s skincare needs in global markets and noted Hi!Papa’s strategic approach to capturing this market opportunity. He emphasized Hi!Papa’s success in developing products that resonate with its target consumers, fostering brand equity, and building long-term customer loyalty. Chen expressed confidence in Hi!Papa’s potential for further success based on its remarkable achievements since its establishment.
