With its elaborately carved eyeshadow palettes, intricate lipstick designs and ornate packaging, Florasis has established itself as one of China’s most successful beauty brands. The Hangzhou-based company, founded by Wu Chenglong and Fei Man in 2017 and known locally as Huaxizi, scaled quickly in its home market. Reaching annual revenues of 5.4 billion yuan ($850 million) as early as 2021, it soon became a favourite among makeup buyers on…