Anyue Living

Most new consumer brands start with a marketing narrative and then find a manufacturer to fit it. Anyue Living works the other way: an in-house team continuously iterates on formulation, materials and user experience, and marketing spend supports a product advantage that already exists rather than substituting for one. This ordering is the starting point for understanding why several brands under one roof can each turn a profit.

Its brands span home cleaning, personal wash-and-care and household care, each aimed at a different segment and price point, but sharing one procurement, production and warehousing system. This multi-brand, shared-supply-chain structure lets the company launch a new brand at comparatively low marginal cost, without rebuilding production from scratch each time.

Sales are balanced between e-commerce and offline supermarkets and maternal-and-infant stores, without a bet on any single channel. E-commerce contributes growth elasticity and consumer data; offline supplies steadier cash flow and visibility, both resting on the same supply chain's responsiveness for restocking.

The initial investment in Anyue Living was made in 2017 under the growth investments strategy, when the company had validated its multi-brand approach across several segments and was seeking capital to expand product development and channel coverage. The strategy provides minority growth capital without displacing control — a fit with a founding team that wanted to keep brand and product decisions in its own hands.

The thesis rests not on any single brand's performance but on whether product development and the shared supply chain can keep incubating new brands — the factor determining whether growth is repeatable rather than dependent on one accidental hit. Channel balance mattered too: not relying on a single channel makes growth less sensitive to shifts in platform rules or channel cost.

Household and personal care carries relatively stable demand, but consumer expectations around ingredient safety, usability and value keep rising, pressuring brands that rely purely on channel spend and price, while brands with genuine differentiation build more durable loyalty. This favors a multi-brand group built on research and development.

The channel landscape keeps shifting, with e-commerce traffic cost and platform rules in flux and offline channels undergoing their own structural change, so neither channel's relative importance stays fixed for long. A company with cross-channel capability and supply-chain flexibility adapts better than one built around a single channel.

Havrion Capital holds a minority position in Anyue Living, and board-level work has centered on the pace of investment in new-brand incubation, capacity planning for the shared supply chain, and whether resource allocation between channels across brands is well judged, while day-to-day operations remain with each brand team.

On the organizational side, support has included helping the group build a unified supply-chain capacity forecast, so brand incubation does not outrun the supply chain's ability to respond. Further capital will go first toward expanding the R&D team and supply-chain flexibility, to support continued expansion of the portfolio.