5Y News | Men's Grooming Brand "理然" Closes Nearly RMB 150 Million Series B Round
The next generation of male consumers is continuously evolving in their grooming and personal-image needs.
Men's personal care brand Li Ran (理然) recently completed a nearly 150 million RMB Series B round, co-led by M31 and 5Y Capital, with continued follow-on investment from existing shareholders SIG, Hupu, and other institutions. This marks the company's fifth funding round in just over a year since launch.
On the investment, Yuan Ye, partner at 5Y Capital, commented: "We believe that the next generation of male consumers' demand for grooming and personal image is continuously evolving. Under new demographic and social contexts, personal image awareness and cultivation call for new product brands. Li Ran has channeled its sharp insights into this trend into both its brand ethos and product R&D. We're honored to partner with Weiqiang and look forward to Li Ran growing into a lasting, exceptional consumer brand."
Tong Ji, investment manager at 5Y Capital, added: "Li Ran truly understands the real needs of the next generation of male consumers — quick pre-outdoor styling routines, novel and distinctive cleansing experiences, that refreshing one-spray fragrance hit. We look forward to Li Ran creating more great products that bring confidence and happiness to male consumers everywhere."
Men's personal care has emerged as a closely watched consumer sector in recent years. According to Euromonitor projections, the global male grooming market could reach $51.1 billion in 2020. In the US, Hims — a brand focused on men's personal care products and wellness medications — hit a $1 billion valuation within two years of founding. Other overseas brands like Harry's, Dollar Shave Club, and Cremo have also seen rapid growth. Domestically, male consumers' contribution to Tmall's overall beauty category GMV grew more than 41.5% year-over-year.
Notably, a 2020 China Men's Beauty Market Insight report from ByteDance's Ocean Engine (巨量引擎) found that in Q3 2020, male viewership of skincare content grew 58% year-over-year, compared to just 28% for women. Across the entire beauty category — spanning skincare, fragrance, and color cosmetics — men's beauty grew 82% year-over-year, far outpacing the overall market's 39% growth rate.
Li Ran officially launched in January 2020, positioned as a men's dedicated comprehensive personal care brand. Its product lines cover facial care, body cleansing, hair and beard grooming, body fragrance, and color cosmetics. The brand has multiple standout products — including fabric refresher spray, "skin drink" body wash, styling spray sets, and tinted moisturizer — that have achieved top rankings in their respective categories across various channels. In Q4 2020, Li Ran's omni-channel GMV approached 100 million RMB.
On the team side, founder and CEO Huang Weiqiang previously served as e-commerce CEO and brand lead at Okamoto, and was also co-founder and CMO of好色派沙拉 (Sexy Salad). Co-founder and COO Zhou Qi previously served as business unit partner at Auk Group, category lead for JD.com's smart projector business, and KA channel manager at Reckitt Benckiser.
5Y Capital (formerly Morningside Venture Capital) currently manages approximately $3 billion across USD and RMB dual-currency funds. We believe: when the world starts believing in the crazy you that others see, the world becomes a better place.
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