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English|The Crazy Hair Removal Device Market in China( 四 )


The good news is that investors have started to eye this particular sector.
A total of six investments have taken place in the hair removal device sector, involving two brands – CosBeauty and JOVS. CosBeauty completed four rounds of financing, with the latest million-dollar B+ round funded by Shunwei Capital, Shenzhen Xinzhiyuan and Xiaomi. JOVS has completed two rounds of financing. Its latest 200-million-yuan A round financing was invested by Jinding Capital and Orchid Asia in July this year.
“Since last year, four industry foundations and listed companies have approached me to talk about potential investment in my company,” Yang said, stating that he does have a financing plan but has not made up his mind yet.
Laser VS IPLFast development also comes with issues.
At present, hair removal devices on the market are all marketed as laser hair removal devices. However, home hair removal devices generally adopt IPL (Intense Pulsed Light) technology.
Laser hair removal and IPL hair removal techniques both utilize light to heat up the hair follicle and prevent regrowth.
810nm semiconductor laser hair removal devices and IPL devices work under the same mechanism. But 810nm wavelength is the gold standard for laser hair removal devices. Laser light with 810nm wavelength can be well-absorbed by melanin, which allows it to remove hair better.
IPL devices are pretty much high-intensity discharge lamps, or one can say, flashlights, with a  spectrum of 500-1200nm. This means lots of lights will be absorbed by the skin, which results in low efficiency in hair removal and causes pain. In addition, home IPL hair removal devices have low energy density. It would take IPL devices over one hour to effectively remove body hair. Using IPL devices for a long time also causes discomfort to users’ eyes.
“Many brands on that market that claim that their hair removal devices can permanently remove body hair within minutes or after a few times’ usages are not telling the full story,” Yang said. It takes an actual laser body hair removal device over 40 minutes to get the work done. And it does not cause much pain. IPL devices, on the other hand, cause strong pain when removing hair. That’s why some brands would tell consumers that they should only use their devices for a few minutes each time.
Although many hair removal devices are sold as home devices, they are still essentially medical equipment. Laser hair removal devices fall into the third category of medical equipment, while IPL hair removal devices are classified as second category medical equipment.
The laser medical equipment industry has high thresholds for entry. Product registry generally takes at least three years in this sector, while the process from product R&D to product launch would take more than five years, Yang explained. “It took us three years to get the qualification for the third category medical equipment. Some companies actually do not have the qualification in the market,” Yang said.
The hair removal device market in China is very chaotic. While one can only find a limited number of companies with proper qualifications on enterprise record platforms like Qichacha, there are still lots of hair removal devices and brands on the market. On Chinese e-commerce platform JD.com, for example, there are over 10,000 hair removal device products priced from less than a hundred yuan to a couple of thousand yuan. Even products that are sold at around 100 yuan are also marketed as laser devices.
“There are at least two or three hundred hair removal device OEMs in the country. Even a team with less than ten people can form a small factory and start making hair removers. And they can receive a decent amount of orders,” Yang said, explaining that many brands’ hair removal devices are actually made by foundries. “Many small factories have poor management. They will immediately ship away the products once assembled, without testing them.”

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