Hi!Papa Completes Series A+ Fundraise Led by L Catterton
Summary
Consumers are also increasingly purchasing domestic brands instead of international ones as the market further evolves, with local players gaining a larger share of the pie, in line with the way the industry has matured in other geographies such as Japan, South Korea, and the US.Having a customer-centric iterative research and development process, Hi!Papa has built a portfolio of highly-acclaimed products including sunscreens, as well as face cleansers and creams. We have made significant headway since our establishment just four years ago and are excited about the road ahead as we leverage L Cattertons operating capabilities to continue building our brand, broadening our product suite, and augmenting our distribution network. "Scott Chen, a managing partner in the RMB fund of L Catterton, added, "Having made more than 30 investments in the global personal care space, we have seen demand for products which specially meet childrens skincare needs arise in other markets as they mature, and are not surprised that this arc is now unfolding in China too. Hi!Papa has likewise identified this market opportunity and methodically developed products that resonate with its target consumers, enabling it to not only capture white space, but also engender strong brand equity and win long-term customer loyalty. Committed to providing these children with safe, gentle, and efficacious personal care solutions, it develops its products via an iterative process involving not only its in-house team of researchers, but also partner universities and laboratories, taking consumers input and feedback into account.