08.02.21
China
www.yatsenglobal.com
Sales: $802 million
Key Personnel
Jinfeng Huang, founder, chairman of the board of directors and chief executive officer; Yuwen Chen, co-founder, chief operating officer and director; Jianhua Lyu, co-founder, chief sales officer and director; Donghao Yang, chief financial officer and director
Major Products
Beauty and skin care products
New Products
Pink Bear cosmetics, Galénic (acquisition), Eve Lom (acquisition), Dr. Wu (mainland China)
Comments: Total net revenues for the 2020 rose 72.6% to approximately $802 million, according to the company’s most recent full-year financial performance release.
Yatsen completed its IPO on the New York Stock Exchange on November 19, 2020. The company raised more than $700 million from the offering.
Last October, Yatsen acquired Galénic, an iconic premium skin care brand, from Pierre Fabre (ranked No. 22 in this report). More recently, Yatsen entered into a definitive agreement to acquire the prestige skin care brand Eve Lom from Manzanita Capital. Galénic and Eve Lom join Yatsen’s Perfect Diary, Little Ondine and Abby’s Choice brands.
Yatsen this year launched a new beauty line, Pink Bear, which is geared to teenagers and young adults.
For the first quarter ended March 31, 2021, total net revenues rose 42.7%. The company also noted that the number of direct-to-consumer (DTC) customers for the first quarter of 2021 increased 11.6% to 9.6 million and the average net revenue per DTC customer increased 24.5%, The c-suite likes what it sees.
“The year is off to a good start with robust topline growth and continued execution of our multi-brand strategy. Growth in the quarter was driven by stellar performance of our flagship Perfect Diary brand as well as robust growth from Little Ondine, Abby’s Choice and other brands under Yatsen’s portfolio. We are especially pleased to see increases in revenue per DTC user and gross margin driven by brand premiumization and disciplined pricing and discounts policies,” Jinfeng Huang, founder, chairman and CEO of Yatsen, said in a statement.
According to Huang, while still in early stages of integration of its recently acquired brands, Yatsen already saw signs of success with the relaunch of certain hero products within the Galénic and Dr.Wu portfolio.
In other news, Dr. Jiming Ha was appointed as a third independent director in the company’s board of directors, effective March 11, 2021. He has been managing director at Goldman Sachs (Asia) in investment banking and a chief economist at China International Capital Corporation.
www.yatsenglobal.com
Sales: $802 million
Key Personnel
Jinfeng Huang, founder, chairman of the board of directors and chief executive officer; Yuwen Chen, co-founder, chief operating officer and director; Jianhua Lyu, co-founder, chief sales officer and director; Donghao Yang, chief financial officer and director
Major Products
Beauty and skin care products
New Products
Pink Bear cosmetics, Galénic (acquisition), Eve Lom (acquisition), Dr. Wu (mainland China)
Comments: Total net revenues for the 2020 rose 72.6% to approximately $802 million, according to the company’s most recent full-year financial performance release.
Yatsen completed its IPO on the New York Stock Exchange on November 19, 2020. The company raised more than $700 million from the offering.
Last October, Yatsen acquired Galénic, an iconic premium skin care brand, from Pierre Fabre (ranked No. 22 in this report). More recently, Yatsen entered into a definitive agreement to acquire the prestige skin care brand Eve Lom from Manzanita Capital. Galénic and Eve Lom join Yatsen’s Perfect Diary, Little Ondine and Abby’s Choice brands.
Yatsen this year launched a new beauty line, Pink Bear, which is geared to teenagers and young adults.
For the first quarter ended March 31, 2021, total net revenues rose 42.7%. The company also noted that the number of direct-to-consumer (DTC) customers for the first quarter of 2021 increased 11.6% to 9.6 million and the average net revenue per DTC customer increased 24.5%, The c-suite likes what it sees.
“The year is off to a good start with robust topline growth and continued execution of our multi-brand strategy. Growth in the quarter was driven by stellar performance of our flagship Perfect Diary brand as well as robust growth from Little Ondine, Abby’s Choice and other brands under Yatsen’s portfolio. We are especially pleased to see increases in revenue per DTC user and gross margin driven by brand premiumization and disciplined pricing and discounts policies,” Jinfeng Huang, founder, chairman and CEO of Yatsen, said in a statement.
According to Huang, while still in early stages of integration of its recently acquired brands, Yatsen already saw signs of success with the relaunch of certain hero products within the Galénic and Dr.Wu portfolio.
In other news, Dr. Jiming Ha was appointed as a third independent director in the company’s board of directors, effective March 11, 2021. He has been managing director at Goldman Sachs (Asia) in investment banking and a chief economist at China International Capital Corporation.
