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Xixi Road, 黄龙 Xihu District, Hangzhou, Zhejiang, China
Chinawww.proya-group.com/enSales: $877 million
Key Personnel: Hou Juncheng, founder and chairman
Major Products: Beauty and personal care products sold under brand names that include Proya, Timage, Off&Relax, Hapsode, Correctors, Uzero, Anya and Insbaha
New Products: Proya—Advanced Original Relief Cream, Advanced Original Relief Mask, Inaugurating Nourishing Face Oil; Timage—Tricolor Harmonize with Skin concealer, Light-Mist Setting Spray
Comments: Proya is a fast-growing Chinese beauty and personal care company. How fast? Sales soared nearly 38% last year, according to its financial report released in April. The company says it has achieved double-digit growth in revenue and net profit for five consecutive years.
Its flagship Proya brand accounts for the vast majority (approximately 82%) of total revenue. Proya says Timage, Off&Relax and Hapsode brands achieved triple-digit sales growth and profitability in 2022, according to the company.
What’s fueling this growth? Proya points to investment in R&D. It increased R&D expenditures on basic, applied and clinical research by 67.15% year-on-year to 128 million yuan ($17.7 million). Proya also expanded its R&D team to 229 employees last year, which represents more than 7% of its total workforce.
Proya has a Shanghai-based R&D center under construction and is set to open a Japanese R&D facility this year. In addition, research and development efforts are bolstered through industry-university collaborations.In terms of IP, Proya says it holds 225 patents.
Sales: $877 million
Proya has a Shanghai-based R&D center under construction and is set to open a Japanese R&D facility this year. In addition, research and development efforts are bolstered through industry-university collaborations. In terms of IP, Proya says it holds 225 patents.
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