Aptar Announces Strategic Collaboration with YAT, a Chinese Online Skincare Company, to Develop Range of Products and Services for the Skincare Market
CRYSTAL LAKE, Ill.--(BUSINESS WIRE)--AptarGroup, Inc. (NYSE: ATR), a global leader in drug delivery, consumer product dispensing and active material science, and YAT, a multi-functional, science-driven online skincare solutions company, have announced a strategic collaboration that aims to develop an innovative range of products and services for the skincare market. This partnership will bring together YAT’s unique consumer centric, product design and concept development capabilities and Aptar’s innovative packaging and dispensing solutions.
Aptar will leverage YAT’s expansive market insight database, focused on specific consumer skincare needs and skincare profiles, and will use YAT’s in-depth experience in customized turnkey solutions as well as online product distribution and promotion to bring new solutions to market.
The collaboration will significantly bolster Aptar’s product and service offerings in China, along with innovation capabilities, by combining Aptar’s expertise in innovative, sustainable and quality manufacturing of packaging solutions together with YAT’s profound understanding of the Chinese consumer, concept design and development expertise, digital marketing capabilities and ingredient based influencer pool, which are increasingly essential in accelerating new product launches that are well received by the market.
Stephan Tanda, Aptar President and CEO, stated, “We are pleased to collaborate with YAT to bring new skincare solutions to market. Aptar’s breadth of experience in manufacturing high-quality solutions, including innovative solutions that contribute to a more circular economy, combined with YAT’s extensive market insights, will enhance the growing portfolio of solutions and services we can bring to this market.” Xiangwei Gong, President of Aptar Asia, added, “Chinese consumers increasingly demand products that have strong scientific support, yet are tailored to their precise requirements, which can include skin complexion, conditions and product functionality. YAT has demonstrated its ability to service this fast growing segment of the Chinese market, whose insights and expertise is especially valuable to the current and next generation of fast growing Chinese brands. We look forward to leveraging YAT’s consumer facing strengths in combination with our broad product and technology platforms.”
Berne Zhao, YAT Founder, stated, “This is the next step in our entrepreneurial growth journey and Aptar is the logical next step for us. We see tremendous complementarity and are very excited about combining our core design and formulation-to-launch expertise with Aptar’s broad product portfolio and sustainability design expertise. Our culture is based on innovation, speed to market, depth of consumer insights, communication and business agility. Having Aptar’s resources will bolster our products and services, meeting the increasingly high demands of the market which increasingly also has a sustainability angle.”
In addition to the partnership, Aptar has made a strategic equity investment in YAT during their latest round of funding.
Aptar is a global leader in the design and manufacturing of a broad range of drug delivery, consumer product dispensing and active material science solutions. Aptar’s innovative solutions and services serve a variety of end markets including pharmaceutical, beauty, personal care, home, food and beverage. Using insights, proprietary design, engineering and science to create dispensing, dosing and protective technologies for many of the world’s leading brands, Aptar in turn makes a meaningful difference in the lives, looks, health and homes of millions of patients and consumers around the world. Aptar is headquartered in Crystal Lake, Illinois and has 13,000 dedicated employees in 20 countries. For more information, visit www.aptar.com.
YAT is an integrated beauty solutions platform that provides specialist services related to skincare and beauty, including tailored consulting services that span from product research and evaluation services to brand management and marketing expertise, consumer group engagement, as well as product and concept development. Leveraging an in-house capability of more than 30 highly recognized skincare and beauty R&D experts and more than a million active consumer fan base, YAT delivers highly precise and accurate recommendations for both consumers and brands that covers all key aspects, from product development to supporting brand launch and commercialization. For more information, visit www.diarybiotec.cn.
This press release contains forward-looking statements. Expressions or future or conditional verbs such as “will” are intended to identify such forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on our beliefs as well as assumptions made by and information currently available to us. Accordingly, our actual results may differ materially from those expressed or implied in such forward-looking statements due to known or unknown risks and uncertainties that exist in our operations and business environment including, but not limited to: the successful integration of acquisitions; the regulatory environment; and competition, including technological advances. For additional information on these and other risks and uncertainties, please see our filings with the Securities and Exchange Commission, including the discussion under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-Ks and Form 10-Qs. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.