| Category | Mass Anti-Ageing Skincare |
| Founded | 1952 |
| Headquarters | Cincinnati, USA (P&G) |
| Listing | Parent P&G listed on the NYSE (PG) |
| Latest revenue | Parent net sales USD 84.3bn in FY2025 |
| Hero SKUs | Regenerist Micro-Sculpting Cream |
Brand History
OLAY was created in 1952 by South African chemist Graham Wulff for his wife: 'Oil of Olay', a pink fluid sold on the idea that it absorbs like skin's own oils — a texture revolution in an era of heavy creams. In 1985 P&G acquired Richardson-Vicks and OLAY joined the group, becoming the global leader in mass anti-ageing through the 1990s.
Its China path is telling: entering in the 1990s as 'Yulan You', it built a professional anti-ageing reputation through department-store counters and television, and was for a time one of China's largest skincare brands. After 2010 it faced ageing and a 'brand for mums' label, and made three moves: switching the Chinese name to OLAY, turning Regenerist into the entry symbol for anti-ageing actives, and shifting channel weight from department stores to e-commerce and social commerce. By 2025 OLAY was climbing Tmall rankings at Double 11 and performing strongly on Douyin, a pillar of P&G Beauty's China recovery.
Hero Products
Three-Year Financials
| Year | Revenue (RMB bn) | YoY | Net profit (RMB bn) |
|---|---|---|---|
| 2023 | 820.1 | +2.0% | 146.5 |
| 2024 | 840.4 | +2.4% | 148.8 |
| 2025 | 842.8 | +0.3% | 159.7 |
Brand-level：OLAY's revenue is not disclosed. In 2025 P&G said both OLAY and SK-II grew significantly outside the US; in China OLAY climbed the Tmall rankings during Double 11 and performed strongly on Douyin, underpinning the Beauty segment's China recovery.
Source：P&G filings and annual report; P&G investor relations; trade press
Company Coverage
- 2026-01OLAY recovers in China
P&G cited significant growth for OLAY and SK-II outside the US and a higher Tmall rank at Double 11.
Source：P&G Q2 FY2026 results - 2025-09Douyin becomes the growth channel
Creator and brand livestreams now carry more weight, and launches start there.
Source：Trade media - 2025-03Anti-ageing story upgrades
From niacinamide to peptides and signalling molecules, competing head-on with domestic ingredient brands.
Source：Brand release
Editor's note: OLAY is a rare successful refresh in China — it retired the stale 'Yulan You' name and redefined affordable anti-ageing around Regenerist. Its rivals are no longer foreign peers but domestic brands with finer ingredient stories and lower prices. The opportunity is to sell validated formulas as the choice that needs no trial and error.