Perfect Diary is regarded as the king of Asia makeup brands. In 2017, Perfect Diary was born to explore unlimited beauty. We want to make it easy for everyone to be beautiful. The core concept of “Perfect Diary” is “Unlimited Beauty” to let everyone not to be bounded by labels, but to embrace their uniqueness and expand the endless possibilities in lives. Perfect Diary focuses on the exploration, modelization and expression of beauty, providing everyone with a beauty experience that is within reach and beyond expectation.
Perfect Diary is the poster child of Chinese beauty. Founded in 2016, the Yatsen-owned brand has quickly conquered China’s cosmetics market with its slick marketing tactics and deep understanding of what makes its young consumers, quite literally, click.
The speed at which this five-year-old giant has grown is staggering. In 2018, it became the first brand to hit 100 million yuan ($15 million) in sales on Alibaba’s Singles’ Day. The following year, it broke its own record in a fraction of that time and became the first domestic brand ever to top Tmall’s “Double 11” beauty category, beating out the likes of L’Oréal and Maybelline.
And Perfect Diary hasn’t peaked yet. Even during the pandemic — when many beauty names were shutting their doors — this DTC unicorn managed to close a round of financing and officially list on the New York Stock Exchange, bringing its market value up from $4 billion in September 2020 to $7.82 billion two months later.
With its home market on lock, Perfect Diary is now looking to take on the rest of the world. But that, of course, is easier said than done. Below, Jing Daily examines Perfect Diary’s playbook, both at home and abroad, and whether these strategies could pave the way for C-beauty brands to win on an international stage.