On November 19, 2020, Yatsen Holding, the parent company of Perfect Diary, listed on the New York Stock Exchange under the listing name Yatsen Holding Limited (NYSE: YSG). As Yatsen’s largest external shareholder, GL Ventures, the VC arm of Hillhouse, has been supporting the company from its early innings, sharing our industry expertise to help build its competitiveness in marketing strategy, omnichannel integration and tech-enablement. We’re proud to see Yatsen’s tremendous growth over the past few years – quickly evolving from a single brand to a multi-brand top player in China’s beauty market.
Founded in 2016, Yatsen currently owns four makeup and skincare brands: Perfect Diary, Little Ondine, and Abby’s Choice and Galenic. Its first brand, Perfect Diary, became the top color cosmetics brand in China in terms of online retail sales just three years after launch.
Yatsen currently has more than 200 experience stores in over 90 cities. In 2019, the company achieved total sales of RMB 3.5 billion, ranking first among domestic beauty companies. The three brands Perfect Diary, Little Ondine and Abby’s Choice served 23.5 million customers in the nine months ending September 30, 2020 and have produced rapid YoY sales growth of 377% for Yatsen.