C-beauty brand perfect diary is one of the earliest cosmetics brands in China to go to the world. The rise of this Chinese cosmetics brand began in China, using KOL marketing, joint brand, private traffic and other strategies. The case study of this perfect diary analyzes how this brand has become so popular in such a short time.
Since 2011, China's cosmetics market has continued to grow. In 2018, the market scale of China's cosmetics industry reached 369 billion yuan. China's cosmetics market has huge growth space, and some local brands are now very popular. According to the prediction of Goldman Sachs, by 2025, the sales of cosmetics in China will reach 145 billion US dollars, twice the market size in 2019.
Behind the rapid popularity of the perfect diary
Perfect diary is a young Chinese make-up brand established in 2016. Its target customers are women aged 20-35 with relatively high consumption power. In March 2017, it began to carry out online business in Taobao and tmall. Six months later, perfect diary opened in wechat Xiaohong bookstore and opened three pop up stores in Shanghai. In 2018, Tiktok and JD mall were established. On January 19, 2019, it has the first offline experience store in Guangzhou. As of June 2019, it has 40 offline stores in China.
Behind the success of "perfect diary" in the Chinese market
During the promotion of tmall in 2018, perfect dairy became China's top cosmetics brand. In 2019, it achieved a turnover of 100 million yuan within 13 minutes on tmall platform. It has topped the list continuously, even surpassing international well-known brands such as l'or é Al and Maybelline.
In the report of "Hurun Greater China Unicorn index in the third quarter of 2019" released by Hurun Research Institute, the perfect diary ranked sixth on the new Unicorn list with a valuation of 7 billion yuan.
During the double 11 promotion period in 2020, the sales volume of this Chinese makeup brand once again ranked first among tmall makeup brands. As of November 11, the cumulative sales volume of the perfect diary on the double 11 exceeded 600 million.
Perfect diary's parent company is listed on the New York Stock Exchange
On the evening of November 19, 2020 Beijing time, Yasen, the parent company of perfect diary, was officially listed on the New York Stock Exchange with the stock code of "YSG", becoming the first Chinese beauty company listed in the United States.
Perfect diary's Chinese market strategy
Perfect diary is known as the king of Chinese cosmetics brands. It has an extraordinary performance in China's cosmetics market. In this case study of the perfect diary market strategy, we found three main factors contributing to its success.