Trustar Capital invests in Yifei Group

Trustar Capital has made an investment in Yifei Group, an online business service provider in the beauty and personal care sector.

Trustar Capital has made an investment in Yifei Group, an online business service provider in the beauty and personal care sector. No financial terms were disclosed.


(Hong Kong, 27 April 2021) Trustar Capital (formerly known as CITIC Capital Partners, a private equity affiliate of CITIC Capital Holdings Limited) is pleased to announce that it has completed its investment in Yifei Group via its third RMB-denominated China fund. This is the ninth investment of Trustar Capital into the beauty and personal care, lifestyle sector, which will continue to be a key investment theme it will eye on.

Founded in 2010, Yifei Group (or “the Company”) is a leading online business service provider in the beauty and personal care sector. The Company plays a vital role in the ecosystem, provides complete solutions to beauty and personal care brands, as well as small and medium business owners. The Company’s service includes brand incubation, marketing & promotion, online shop operation and channel and fulfillment management, and covers all the major ecommerce and social media platforms. It also provides education and one-stop-shop service for hundreds of thousands of sellers, enabling them to start business and serve their respective consumers in the space. In addition, the Company operates Taomeizhuang (or TMZ) Association, which is one of the most influential operating platforms in the market.

Weiqing JIAN, founder and CEO of Yifei Group said: “Since founding, we have been providing innovative, top-notch services to brands and small business owners, becoming an indispensable business partner to them. With the strong support from Trustar Capital, we have full confidence in strengthening our leading role in the sector, making it easy for brands and sellers to do business in the beauty space.”

Hanxi ZHAO, Senior Managing Director and Managing Partner of Trustar Capital, said: “The vigorous growth and complexity of the online beauty space in China makes it critical for brands to find trustworthy and capable channel partner. Yifei has established itself as a preferred partner that connects the brands and the seller network, and eventually consumers. The service it provides is an integral part of the ecosystem. We are delighted to be working with the young and passionate entrepreneurial team from Yifei, and are excited to support them to continue to grow with the overall beauty and personal care market.”

Trustar Capital believes in the long-term growth prospects of the beauty, personal care and lifestyle sector, and will continue to look for attractive investment opportunities in the sector. In addition to Yifei, Trustar Capital’s investments in the related sector include: Erno Laszlo, a leading American premium skin care brand; Trilogy, a clean beauty brand from New Zealand; Axilone, a world-class cosmetics packaging provider; UCO, an e-commerce service provider serving premium beauty brands; ScentAir, a scent marketing solutions provider; RECLASSIFIED, a leading Chinese prestige perfume and home fragrance brand; Lifestyles/Jissbon and LELO, leading global brands in the intimate wellness sector.

Note: PricewaterhouseCoopers and Haiwen & Partners provide financial and legal advisory services to Trustar Capital respectively.

About Trustar Capital
Trustar Capital (formerly known as CITIC Capital Partners), focuses on control buyout opportunities globally and has completed over 80 investments since inception across China, Japan, U.S., Europe, etc.
Trustar Capital currently manages USD7.7 billion of committed capital. For more information, please visit