JOY GROUP Announces Impressive Financial Results for 2024, Exceeding $580 Million in Sales
Shanghai, April 9, 2025 /PRNewswire/ — JOY GROUP (Shanghai Juyi Cosmetics Co., Ltd.) has recently disclosed its financial achievements for the 2024 fiscal year, showcasing a total sales volume surpassing $580 million (4.2 billion yuan) and annual revenue reaching $483 million (3.5 billion yuan), marking a 36% year-over-year growth. The company continues to demonstrate double-digit growth while maintaining profitability.
In 2024, JOY GROUP experienced substantial growth across various beauty categories. In the makeup segment, JOY emerged as the number one domestic company in China by market share. The JUDYDOLL brand also claimed the top spot in makeup sales volume in China. The annual retail sales volume for the brand exceeded $345 million (2.5 billion yuan), showing a 23% increase compared to the previous year.
Furthermore, in the hair care category, JOY GROUP took over all operations of René Furterer, a prestigious French hair care brand founded in 1957, starting from January 1, 2024, in China. The brand achieved significant growth in its first year of operation, especially a 72% revenue increase in the second half, supported by JOY’s local expertise and market presence.
The company continues to strengthen its omnichannel strategy, operating over 80 flagship stores for all three brands in China, in addition to its e-commerce activities with direct consumer access and presence in over 15,000 retail outlets.
Allan Liu, Chairman and CEO of JOY GROUP, stated, “In 2024, we successfully transitioned from makeup to hair care and from mass to premium markets. The results for 2024 convincingly validate our multi-brand strategy across different categories and price segments. Moving forward, we will continue to expand our brand portfolio through strategic initiatives including mergers and acquisitions and incubation. We believe that this portfolio strategy will drive long-term growth for JOY.”
Building on the domestic success in China, JOY GROUP remains committed to its globalization strategy. In 2024, the company’s international business grew by over 400%, expanding its reach to 30+ countries through e-commerce and retail operations.
JOY GROUP, a multi-brand cosmetic company with a mission to “Create a world of beauty that brings joy to everyone,” includes JUDYDOLL, JOOCYEE, and René Furterer (operations in China), covering various beauty sectors including makeup and hair care. Recognized for its strong market performance, JOY once again secured the 70th position in the WWD Beauty Inc. Top 100 ranking in 2024.
To learn more about JOY GROUP, visit www.joy-group.com.
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In conclusion, JOY GROUP’s exceptional financial results for 2024 underscore its growth and success in the beauty industry. With a focus on innovation, strategic expansion, and brand diversification, the company is well-positioned for continued success in both domestic and global markets. Explore more about JOY GROUP’s journey and offerings to experience the joy of beauty firsthand.
