JOY GROUP Announces Strong Financial Results for 2024, Achieving 36% Growth
Shanghai, April 10, 2025 /PRNewswire/ — JOY GROUP (Shanghai Juyi Cosmetics Co., Ltd.) has reported its financial results for the fiscal year 2024, revealing a total revenue of over $580 million USD (4.2 billion RMB) and an annual turnover of $483 million USD (3.5 billion RMB), marking a 36% growth compared to the previous year. The company has consistently maintained double-digit growth and a healthy profitability.
In 2024, JOY GROUP experienced significant growth across various beauty categories. In the makeup category, JOY is the number 1 brand in China in terms of market share. JUDYDOLL leads as the top makeup brand in China based on sales volume, surpassing $345 million USD (2.5 billion RMB) in annual retail sales, representing a 23% increase from the previous year.
Expanding its portfolio, JOY GROUP acquired the entire business of René Furterer, a prestigious French hair care brand founded in 1957, in China starting from January 1, 2024. The brand saw strong growth in its first year, with a 72% increase in sales in the second half of the year, leveraging JOY’s local expertise and market knowledge.
The company continues to enhance its omnichannel strategy, operating over 80 standalone brand boutiques for all three brands in China and having a presence in more than 15,000 retail stores. Allan Liu, Chairman and CEO of JOY GROUP, stated, “In 2024, we successfully expanded from makeup to hair care and from mass to premium markets. The results of 2024 validate our multi-brand strategy across all categories and price segments. We will continue to grow our brand portfolio through strategic initiatives such as mergers and acquisitions and incubations, believing that this strategy will drive JOY’s long-term growth.”
Building on its success in China, JOY GROUP remains committed to its globalization strategy. In 2024, the company’s international business grew by over 400% and expanded its reach through e-commerce and retail to over 30 countries. The group, known for its mission to “create a world of beauty that brings joy to everyone,” includes JUDYDOLL, JOOCYEE, and René Furterer (China) in its portfolio, covering various beauty sectors such as makeup and hair care.
Recognized for its strong market performance, JOY was once again listed in the prestigious WWD Beauty Inc. Top 100 in 2024, ranking 70th. To learn more about JOY GROUP, visit www.joy-group.com. Photo – https://mma.prnewswire.com/media/2660846/image.jpg
In conclusion, JOY GROUP’s financial results for 2024 demonstrate remarkable growth and success across its diverse beauty brands. The company’s strategic initiatives and commitment to innovation have positioned it as a leader in the industry. Encouraging further engagement, JOY GROUP invites individuals to explore their portfolio and experience the joy of beauty.
