The perfect diary us launched.
It only took four years to establish the brand, enter Tmall and go public on the US stock market.
For many beauty giants, it usually takes half a century to go public.
The golden age of new Chinese brands is coming! At 10:30 PM on November 19, Perfect Diary’s parent company Yatsen E-commerce was officially listed on the New York Stock Exchange. On the first day of trading, it was welcomed by the capital markets, with its share price rising by 75% and its market value exceeding $10 billion. In the past, it was mostly Internet companies that went to the United States to ring the bell. The listing of “Perfect Diary” is of epoch-making significance, which means that new companies are making a leap from “Made in China” to “Chinese brand” and “new retail”.
As the “first domestic cosmetics stock” to be listed overseas, Perfect Diary is a typical example of a new brand that has grown up on Tmall. Different from traditional brands gradually going digital, Perfect Diary entered Tmall at the beginning of its establishment, and took it as the launch site of new products. It created popular products such as “animal eyeshadow” and “anti-gravity lip glaze” here, and became the favorite Chinese makeup brand among young people, surpassing international brands such as YSL and Givenchy, and ranked the first place on Tmall’s Double 11 makeup for two consecutive years.
In addition to the “top flow” perfect diary, Yi Xian e-commerce is accelerating its multi-brand strategy. In June 2019, Yi Xian e-commerce acquired the tide play makeup brand small Odin. Launched a new brand in June this year. This year’s Tmall Double 11, finished son heart selection 33 minutes of turnover exceeded 10 million; For the first time, the sales volume of XiaoOdin’s Tmall flagship store exceeded 100 million yuan, 30 times that of last year, and it became one of the top 10 cosmetics on Tmall.
Yixian e-commerce attributed its performance to DTC (Direct-to-Customer) and data driven. With this model, the new brand represented by Perfect Diary can complete the concept of new products, development and launch within 6 months, while international brands usually need 18 months.
This means that new brands are being redefined “as a brand as well as a retail company”, with full use of digital technology. This is exactly the advantage of Tmall. The official flagship store is both a brand communication and sales channel, which enables the brand to reach consumers directly, accumulate fans, recruit members, understand user needs, maintain customer relations and increase brand identity. The digital technology of Tmall gives the brand a clearer picture of consumption and a clearer product demand.
In addition, the deep insight into the beauty needs of the new generation, such as the post-90s, is also the secret of the success of Yixian e-commerce. “I feel like Tmall is getting younger and younger in the last two years!” Chen Yuwen, co-founder and COO of Perfect Diary, lamented that the popularity of short videos, whether in the form of direct interaction with users, or the revamped Taobao app, makes people “hooked”. He couldn’t help but say, “I have to browse Taobao for a long time every day, and it has become a great fun.” This change also makes more and more post-90s rush in, becoming the main consumer group with the fastest growth rate on Tmall.
Like perfect diary us, there are not a few cases of stepping on the edge of The Times and counterattacking overseas big brands. This year’s Double 11, there are 360 new brands, becoming the first in the subdivision industry. Tmall is becoming a land of mass emergence of new brands. Tian Ke won the Top1 of the floor washing machine, the Top1 of the baby snack, the Top1 of the Turkey disinfecting machine, the Top1 of the buttercream pie bra, and the Top1 of the unlimited music lamp……
“There are so many new brands coming out this year, it’s not an accident, there must be a logic behind it,” Chen Yuwen said, sounding a sentiment he hasn’t seen in the past 10 years.
Zhang Ying, deputy dean of the Guanghua School of Management at Peking University, said the rise of new brands means more niche needs are being met. Thanks to the unprecedented increase in information density, consumers have formed many unique preferences, on the basis of which a large number of new brands have emerged.
China has a complete set of conditions for the birth of a new generation of brands, including innovative capabilities in product research and development, digital technology, digital marketing, market and supply chain strength, and the Internet has set up a low-cost “business infrastructure” for entrepreneurship. In addition, domestic demand is strong, cultural confidence is increased, young people have a high sense of identity with domestic products… Many factors add to the effect, so that China’s new brand collective step in the era of the air, ushering in a full takeoff of the golden age, successfully make the perfect diary us to develop so well.
