Reinvention

How Beauty-Boosting Shots Made Two Women Billionaires

  • Jian Jun, Zhao Yan have built fortunes as stocks surged
  • China’s market for skin treatments poised to reach $48 billion
Light equipment at the Guangzhou 2020 International Live Streaming Industry Expo on Dec. 27, 2020.Photographer: Li Zhihao/VCG/Getty Images
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Fiona Cai is an internet host from Nanchang, China, who livestreams the nation’s pop songs to several thousand social-media followers. She’s 28 but spends about 1,000 yuan ($155) each month for a skin booster injection.

“It can help minimize pores and whiten my skin, and I feel my makeup works better,” she said in an interview. She first tried the treatment a year ago. “But my body will process it in a few weeks, so I have to keep it up every month.”