Wang Sicong, the son of China's richest man Dalian Wanda Group's Wang Jianlin, has made his first bet in the beauty industry by backing a new concept anti-aging beauty brand in China, Ningyue.
Founded in June 2016, Ningyue has raised tens of millions RMB from an unidentified Chinese investor, and is near closing a RMB100 million (US$14 million) pre-A round from unnamed investors, the start-up announced in Beijing.
Ningyue plans to combine a mobile app with offline anti-aging centers, as well as smart hardware and anti-aging skincare products, to provide comprehensive anti-aging solutions.
"It's easy to make money from women," Wang Sicong, chairman of venture and private equity firm Prometheus Capital, told Chinese media. "As people live longer, they are willing to spend more on maintaining their youth."
The Chinese cosmetology...
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