The Hong Kong-based company announced that it would operate under the new name on December 3. The rebrand comes after the completion of Li & Fung’s strategic divestment of its three product verticals in April 2018 to form LH Pegasus, which is 45% owned by Hony Capital and 55% owned by the Fung Group.
“For the beauty company behind the beauty industry, the rebrand signifies both MEIYUME’s evolution as a company and its response to the rapidly-changing beauty landscape and the changing face of today’s consumer,” it said in a press statement.
New brand identity
MEIYUME specialises in providing solutions for fragrance, skincare, colour cosmetics and beauty instruments for global brands, retailers and direct marketers.
The new name is a fusion of Mandarin for beauty, and Japanese for dream, which is in line with the new brand positioning as “the catalyst shaping opportunities and transforming visions into reality”.
As part of the rebrand, MEIYUME’s business has been restructured into three key divisions: Packaging & Turnkey Solutions, Retail Solutions, and Brands.
“I am thrilled to unveil our new brand identity as MEIYUME,” said Gerard Raymond, president of MEIYUME. “We embarked on a transformation journey earlier this year and I am so proud to have reached this important milestone which marks an exciting era of opportunity for our business and puts us on a new path of growth and success.”
Focus on beauty market
Along with a new name, the company announced it was renewing its focus on its Empowering Beauty Solutions business strategy.
Raymond elaborated that the new brand and structure would ensure MEIYUME is better positioned to connect end consumers and the entire supply chain in order to create value for its customers.
In addition to empowering established brands by providing them with the right products and solutions, MEIYUME hopes to help pave the way for new brands through collaborations.
William Fung, Fung Group’s Deputy Group Chairman, revealed that the company has seen many exciting growth opportunities this year in the beauty industry.
This year, the company launched Creative Days concept event at LiFung Plaza in Shanghai, where it showcased a wide array of innovative skin care, colour cosmetics and fragrance products and solutions, as well as interactive point-of-sale (POS) displays.
In response to the emphasis on skin protection, LF Beauty showcased anti-blue light products, targeted at millennials, as well as anti-pollution skin care products.
“It is the right time to undergo a full rebrand and really focus on who we are and the value we deliver to our customers,” said Fung. “With our new brand identity crystalised, I’m optimistic about the future and how we can continue to push the beauty industry forward,” said Fung.
