CITIC Capital acquired Hangzhou UCO Cosmetics from Qingdao KingKing Applied Chemistry.

CITIC Capital, an alternative investment management and advisory company, acquired Hangzhou UCO Cosmetics, a leading digital marketing and e-commerce service provider, from Qingdao KingKing Applied Chemistry. Financial terms were not disclosed. Hanxi ZHAO, Senior Managing Director of CITIC Capital, says: “The beauty sector is one of the fastest growing consumer sectors with e-commerce being the growth engine for many of the global and local beauty brands in the China market. UCO is known for its deep understanding of digital and e-commerce, innovative and technology-enabled solutions, and dedication in quality service. We are very excited to become the partner of Arthur and his talented and passionate management team to continue to build UCO as an instrumental player in the beauty eco-system.”