Chinese beauty giant Proya’s wholly owned subsidiary Proya Hainan has acquired a 12.55% stake in cosmetics brand Flower Knows for RMB351 million in cash, increasing its existing holdings to a 51% controlling stake.
Proya now has a majority stake in Flower Knows, having invested a total of RMB779 million in the company through two transactions.
Proya acquired a 38.45% stake in Flower Knows for RMB428 million in September 2025, as part of the company’s series B financing.
Partner Sun Tingjuan of Grandall Law Firm handled the merger control filing, while partner Li Yan co-ordinated the legal due diligence, transaction structure design and implementation.
Jingtian & Gongcheng counselled Flower Knows on the acquisition.
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Following completion of the deal, Flower Knows founder Yang Zifeng stepped down as chairman but remained the company’s manager and a director.
Hou Yameng, general manager of Proya, has succeeded Yang as chairman, and stated that Proya would respect the founder’s vision for the Flower Knows brand and preserve the founder’s authority over product development.
Proya said in its acquisition announcement: “Flower Knows’ differentiated positioning in the colour cosmetics segment complements our existing cosmetics brands.”
As a pioneer with a proven overseas track record, Flower Knows’ international market experience would support Proya’s global expansion strategy, the company said.
Proya develops, manufactures and sells cosmetics, with a portfolio spanning skincare, cosmetics, personal care and fragrances, including well-known brands such as Timage and Off&Relax.
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Flower Knows focuses on cosmetics aimed at the young women segment and is known for its distinctive product design, with a product range including eyeshadow, lipstick and blush.
Proya’s decision to respect Flower Knows’ founder’s vision and authority over product development may help the company maintain its brand identity and customer loyalty.
The company began expanding overseas in 2019, and now sells its products in Japan, Southeast Asia, Europe and the US.
Proya listed on the SSE main board in 2017, becoming the first beauty company to debut on China’s A-share market.
