Yatsen Holding Limited (NYSE: YSG) is a leading player in China's beauty market with a mission to create an exciting new journey of beauty discovery for consumers in China and around the world.
Founded in 2016, the Company has launched and acquired multiple color cosmetics and skincare brands including Perfect Diary, Little Ondine, Abby's Choice, Galénic, DR.WU (its mainland China business), Eve Lom, and Pink Bear. The Company's flagship brand, Perfect Diary, is one of the top color cosmetics brands in China in terms of online retail sales value.
Leveraging its digitally native direct-to-customer business model, the Company has built core capabilities which enable it to launch and scale multiple brands quickly while offering a wide selection of products to a growing variety of customers. The Company reaches and engages with customers directly both online and offline, with expansive presence across all major e-commerce, social and content platforms in China. In addition, as of December 31, 2020, we had 241 experience stores across over 110 cities in China.
Our Diverse Brand Portfolio
Perfect Diary is our first and largest brand. We launched Perfect Diary in 2017 to provide high-quality and innovative color cosmetics with exquisite designs targeting Gen-Z. With a broad and growing portfolio of products that spans the color cosmetics, skincare, beauty tools and kits categories, Perfect Diary offers comprehensive beauty solutions at a mass-market price point.
Little Ondine was founded in Shanghai in 2013. Little Ondine initially gained popularity with its odorless, non-toxic, easy peel-off and fashionable nail polish. We acquired Little Ondine in 2019 and have since expanded its product variety and offerings. Little Ondine now features trend-setting and functional eye, lip and face makeup products, such as eyebrow pencils, eyeliner, mascara and matte lipsticks. Little Ondine's loyal customers mainly include women between the ages of 20 to 29 in Tier 1 and Tier 2 cities who are more willing to purchase products at higher price points.
Benefiting from powerful consumer insights developed from data collected from our large customer base, we realized that younger beauty consumers are highly focused on safe and effective skincare. In response, we developed Abby's Choice, a skincare-focused brand, providing effective skincare solutions, such as masks, toner, face cream, eye cream and anti-acne patches. Products under this brand have particularly benefitted from our strong R&D capabilities, through which we are able to continually develop and introduce new products in close collaboration with third-party R&D laboratories. We work with both domestic and international laboratories, including those in Switzerland, Italy, South Korea and Japan.
Originated from Paris, Galénic was founded in 1978 by Mr. Pierre Fabre, a well-known pharmacist, botanist and the inventor of dermo-cosmetics, with the aim of offering women high-end dermo-cosmetics with proprietary formulation and highly demonstratable effectiveness. Galénic was Yatsen's first premium skincare brand which we acquired from Pierre Fabre group, one of the largest pharmaceutical and demo-cosmetic group in Europe. With its R&D expertise and strong roots in France, Galénic's products are known for its scientifics formula that are derived from precious plant essence and ingredients to create effective skin care solutions as well as elegant skin care experience for women. Today, Galénic's products are sold in Europe, Asia and the Middle East. As part of the acquisition of Galénic, we have established long-term R&D, product innovations and manufacturing collaboration with Pierre Fabre to support the Galénic brand going forward.
Founded in 2003, DR.WU is a professional skincare brand developed by renowned dermatologist, Dr. Ying-Chin Wu. DR.WU created a technologically-advanced skincare line of hypoallergenic and highly efficacious products, leveraging 50 years of experience in dermatology and extensive research on skin immunology and laser treatment as well as the detailed knowhow from a team of eight seasoned dermatologists. DR.WU's products have received numerous awards and recognition from beauty media and platforms. We completed the acquisition of DR.WU's mainland China business in January 2021. Post-closing, we have also reached strategic partnership with DR.WU on research and development, product innovation and brand building.
Eve Lom is a prestige skincare brand founded in 1985 by the renowned facialist Eve Lom. Eve Lom's eponymous skincare collection has won numerous awards, with products featuring high quality natural ingredients which creates a luxurious and efficacious skin care experience. Eve Lom is sold through a global distribution network with notable strength in Asian markets. With e-commerce channels, the brand has built a large following worldwide. We acquired Eve Lom from Manzanita Capital in March 2021, who will retain a minority stake in the business and serve as a strategic partner to Yatsen going forward.
Pink Bear is a color cosmetic brand newly launched by us in March 2021 to target the teenage and young adult customer base. Employing a “young girl” style and brand identity, the brand is envisioned to provide high value-for-money products at lower mass price points, with an initial focus on the lip gloss product category. We expect to gradually expand product categories under this brand and support its growth leveraging our capabilities and know-hows in product design, e-commerce, supply chain and sales network.