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Rellet

2026-11-06 · Freda FY2025 annual report (600223.SH)
CategoryHyaluronic Skincare
Founded2004
HeadquartersJinan
ListingNot separately listed; part of Freda (600223.SH)
Latest revenueFY2025 brand revenue RMB 1.04bn, up 8.26%
Hero SKUsHyaluronic Mist / Collagen Repair Mist

Brand History

Launched by Freda in 2004, Rellet was among the first domestic brands to turn hyaluronic acid into a mass skincare concept. Freda is a major sodium hyaluronate supplier, and Rellet's early products — hyaluronic essence and hydrating mist — were value-priced and sold mainly through pharmacies and supermarkets, building a steady base in northern China.

After 2019, ingredient-focused content reintroduced the brand to younger consumers and the hydrating mist became a hit, ranking near the top of facial-mist categories on major platforms for years. Revenue reached RMB 1.04bn in 2025, up 8.26%, overtaking sister brand Dr.Alva as Freda's largest cosmetics brand, with the mist line up 19% and the 2.0 series up 54%.

Hero Products

Hyaluronic MistThe highest-volume SKU, long near the top of facial-mist categories.
Collagen Repair MistAdds collagen to extend into repair scenarios.
Glow MaskA sheet mask extending the mist audience.
Plumping Toner & LotionA hyaluronic-acid-based basic regimen.

Three-Year Financials

YearRevenue (RMB bn)YoYNet profit (RMB bn)
20249.63——
202510.43+8.26%—
Scope:Brand level (Freda Bio); 2024 figure derived from the disclosed growth rate
Brand-level:Rellet reached RMB 1.04bn in 2025, up 8.26%, overtaking Dr.Alva as Freda's largest cosmetics brand; the mist line grew 19% and the 2.0 series 54%.
Source:Freda FY2025 annual report (600223.SH)

Company Coverage

EDITOR'S NOTE

Observation: Rellet reaching RMB 1bn on the back of one mist shows how efficient a hero SKU can be, but the category ceiling is clear — hydration is a staple, price-sensitive and with little room for technical iteration. Its extension into collagen and repair will determine whether 'mist brand' can become 'hyaluronic skincare brand' over the next five years.

Body Care