By Vincent Gallon
Founded in 2003, Proya Cosmetics has risen to the top of China’s cosmetics market in just two decades. With a portfolio of nine brands [1] spanning multiple categories and a distribution model primarily focused online, the company became the first Chinese cosmetics firm to surpass USD 1 billion in annual sales in 2024. Founder Juncheng Hou has set a clear goal: to secure a spot among the global top 10 cosmetics companies within the next decade, leveraging substantial R&D investments and strategic external growth initiatives.
Proya Cosmetics made a strong impression in 2024! The company, founded about twenty years ago, crossed the symbolic threshold of 10 billion yuan in revenue (10.78 billion yuan exactly, corresponding to approximately 1.4 billion dollars). More importantly, with double-digit growth (21.4%) for the seventh consecutive year, it has largely outperformed global giants like Estée Lauder or L’Oréal, which are struggling in the Chinese market.
“This result illustrates consumer confidence and the vitality of our brands,” emphasizes the founder and president of the company, Juncheng Hou, to Premium Beauty News. “We meet consumer needs with a comprehensive range of products across all categories, from skincare to hair care.”
Reflecting a unique feature of the Chinese market — where e-commerce dominates cosmetics sales — Proya Cosmetics generates 95% of its revenue online.
