Proya Cosmetics acquires majority stake in Flower Knows
This acquisition positions Proya to capitalize on Flower Knows’ accelerating growth while diversifying its revenue streams beyond its flagship brand.
CHINA – China’s leading beauty and skincare company Proya Cosmetics has secured controlling ownership of the fast-rising Chinese makeup brand Flower Knows, marking a strategic acceleration of its multi-brand portfolio expansion.
Proya acquired an additional 12.6% stake in Flower Knows from founder Yang Zifeng for CNY 351 million (USD 48.4 million), bringing its total ownership to 51% and establishing a controlling position.
The deal valued Flower Knows at CNY 2.83 billion (USD 391 million), and the market responded positively with Proya shares rising 5.1% to CNY 58.19 (USD 8.02) in Shanghai trading.
This represents Proya’s second investment in Flower Knows this year, following its August 2025 acquisition of a 38.5% stake through its wholly-owned subsidiary Proya Hainan, which had made Proya the brand’s second-largest shareholder.
Flower Knows brings impressive financial credentials to Proya’s portfolio, generating CNY 1.7 billion (USD 234.6 million) in revenue and CNY 280 million (USD 38.6 million) in net profit in 2025, with growth accelerating into 2026.
The brand’s international business generated nearly USD 30 million last year, with overseas pricing reaching up to twice domestic levels, positioning Flower Knows as Proya’s second-largest cosmetics brand and the group’s second billion-RMB-scale beauty brand.
Proya stated that Flower Knows will complement its existing makeup brands, strengthening its presence in the makeup category and aligning with its multi-brand and multi-category strategy.
The acquisition represents a strategic shift for Proya as its core business faces slower growth, moving from reliance on hero brands toward acquisition-led expansion and diversifying away from a single growth engine toward a diversified portfolio with multiple growth drivers.
Flower Knows is a Hangzhou-based C-beauty brand celebrated for its dreamy, hyper-feminine “fairy-tale” visual identity that has successfully transformed fantasy aesthetics and social virality into commercial scale while building a global community of millions among Gen Z consumers.
With Proya now holding 51% indirect ownership, Flower Knows will be included in Proya’s consolidated financial statements, providing immediate boosts to Proya’s reported revenue and profit figures.
The brand had previously completed its Series B financing in September 2025, with Proya as the exclusive investor and Chishan Capital serving as long-term exclusive financial advisor, with funds designated for global expansion, supply chain integration, and content innovation.
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