In the context of the continued heating up of the beauty consumer market, Yatsen global, an Internet and beauty unicorn as well as the parent company of Perfect Diary, born in Guangzhou, has made new moves. On June 8, Yatsen Global officially released Abby’s Choice, its new strategic brand, targeting young college students and white-collar women aged 18-28, of which product line covers skincare, makeup, personal care and beauty equipment, etc.
Since the launch of Perfect Diary, the makeup brand in 2017, Yatsen Global has received widespread attention from society due to its rapid development. Chen Yuwen, one of the co-founders, said that the company has clarified its multi-brand development strategy since its birth, and is committed to building an Internet beauty group with international influence; as the latest incubation of strategic new brand, Abby’s Choice hopes to be able to better meet the more diverse needs of the new generation of consumers, helping achieve the Group’s multi brand strategic goals.
Yuwen Chen, the co-founder of Yatsen Global
The guests attending the Abby’s choice brand launch conference included Sarah from Hillhouse Ventures, Du Zhiyun, president of the Guangdong Cosmetics Society, and He Yifei, the head of Yatsen Global product development. Sarah said, “China has a huge potential in the cosmetics market, and I believe that this new brand (Abby’s Choice) will definitelywin the recognition of the new generation.”
President Du said that Yatsen Global maintained close contact with society and actively participate in society’s affairs and they were looking forward to continuing contributing to the industry’s development in the future.
Guests witnessing the unveiling ceremony of Abby’s choice
(From left to right: Huang Yigeng, Vice President of Yatsen Global, Du Zhiyun, President of Guangdong Cosmetics Association,Chen Yuwen, co-founder of Yatsen Global, Sarah from Hillhouse Ventures, and He Yifei, Head of Product R&D of Yatsen Global)
Three stores launched together! C2B brand Abby’s Choice renewed its debut.
In the current era of ” appearance level economy” and “face-seeing”, people’s pursuit of beauty has become more intense, which directly triggered a sharp rise in China’s beauty and skincare consumption. Since the beginning of this year, affected by the pandemic, although the desire to consume beauty has been suppressed to a certain extent, the latest data shows that the beauty industry has been picking up since May, and skin care products represented by functional skin care products such as facial care and essence have performed outstandingly of whichsales grew faster than cosmetic products. According to a forecast of authoritative third-party, by 2022, China’s skin care industry’s market size will exceed 300 billion yuan, and the development prospects are extensive. In this context, on June 8, Abby’s Choice, the new beauty brand, was officially unveiled. The Abby’s Choice Tmall flagship store, the Guangzhou Grandview Mall store and the Chengdu Chunxi Road store were launched together.
Abby’s choice at the Grandview Plaza in Guangzhou
Abby’s Choice at Chunxi Rd in Chengdu
As a new strategic brand promoted by Yatsen Global, Abby’s Choice has a completely bottom-up road, which is quite different from conventional brands. It was born from the insight of the user needs of Abby’s team, the beauty consultant of Yatsen Global.
He Yifei, the head of R&D of Yatsen Global, said that many users gave feedback in the communication with Abby’s Choice team that they have been plagued by skin problems such as dryness, seasonal sensitivity, and oily acne, but there is no suitable solution in the market to solve these problems. With the original intention of creating value for users, Abby’s choice team began to seek corresponding solutions to skin problems.
The R&D team examined and determined that the actual causation of problematic skin seemed to be the damaged skin barrier. To repair it, the R&D team decided to use ceramide. After comparing dozens of suppliers, Yatsen Global chose to co-create products with Intercos, the only one global manufacturer of the industry. skincare R&D Department, using patented technology to synthesize exclusive scientifically proportioned ceramide complex essence. After 14 months of concentrated polishing and more than 100 core formula adjustments, we successfully developed Abby’s Choice Ceramide “Little Milk Bottle” soothe hydrate. After the launch, it has achieved surprising sales and a good user reputation and was rated as “Annual New Repair Moisturizing Toner” of the “OnlyLady” Beauty Queen Award in 2019. The 3+1 divine acyl facial mask of Abby’s Choice has sold more than 100,000 pieces in the first month of its launch and won the “Best Moisturizing Mask” award in the Bazaar International Beauty Awards Summer List of 2020.
Products of Abby’s Choice
With this as a starting point, the team decided to create the brand of Abby’s Choice (Wanzixinxuan), and named the brand’s English name Abby’s Choice with Abby, the name of the first senior beauty consultant who joined the Abby’s Choice team, to represent the brand insisting on listening to users’ original intention of demand that they want to become beautiful .
At present, Abby’s Choice has targeted young college students and white-collar workers women aged 18-28 as its target users. The categories cover more than 200 SKUs such as skincare, makeup, personal care, and beauty equipment.
Through the C2B model, Abby’s Choice connects consumers at one end and the upstream supply chain at the other end, which can more efficiently and indeed respond to young skin needs. Chen Yuwen explained: “We integrate high-quality global resources, cooperating with authoritative international laboratories for research and development, and insisting on selecting high-quality raw materials from all over the world, and cooperating with well-known domestic and foreign processing and production companies to ensure product professionalism and high standards.” It is also revealed that in the next three years, Yatsen Global is expected to invest more than 100 million yuan in product development.
Chen Yuwen also emphasized that the brand vision of Abby’s Choice is to be a right partner who is committed to exploring a new generation of beautiful lifestyles with users so that everyone’s voice can be heard, and everyone’s beauty can be realized,which, as a result, creates a better life.
Targeting the new generation, Yatsen Global multi-brand strategy is implemented
The importance of Abby’s Choice to Yatsen Global is self-evident.
In 2016, three boys who graduated from Sun Yat-sen University named the Internet beauty company jointly founded as “Yatsen Global” to commemorate of their university. In 2017, Yatsen Global launched Perfect Diary, its first brand, to develop high-quality, well-designed, and easy-to-use makeup products for the new generation of women. It became the top seller of Tmall makeup products within two years of launch. In 2019, it became the first domestic brand to top the Tmall Double Eleven cosmetics list in 11 years.
Explorer Eye Shadow Palette series
After successfully creating the Perfect Diary for the head brand of domestic cosmetics, the launch of Abby’s Choice marks that Yatsen Global has officially embarked on a group and multi-brand development strategy. Chen Yuwen pointed out that the target users of Perfect Diary are young women aged 18-28. “But it’s just a very rough user hierarchy. There are already 680 million females in China. We have encountered many users with different preferences and needs in the past three years. Perfect Diary alone cannot satisfy them.”
In other words, as the latest brand of Yatsen Global, the parent company of Perfect Diary, “Abby’s Choice,” is an essential carrier for Yatsen Global to develop new categories and new consumer groups. It also responds to external forces in the context of intensified industry competition and becomes an inevitable choice of the contest in the industry.
Chen Yuwen said that at the beginning of the beauty track, the founding team of Yatsen Global had two critical predictions: China will definitely become the world’s largest consumer beauty market, and local brands will own more than 50% of the market share. In the next three years, as the Chinese market matures, industry integration, mergers, and acquisitions will intensify, and the group-based operational structure will become the main form of competition at this stage. Therefore, Yastsen Global has established a multi-brand development strategy from the beginning. The goal is not only to build a top brand of domestic cosmetics, but also build an Internet beauty group with international influence.
In consequence, Yatsen Global will continue to launch brands and products with different price ranges, different styles, and different functions. The sources of these brands include, but not limit to independent incubation and external acquisition.
“Our strategic plan is, first of all, always put users’ value in the first place, paying attention to the needs of post-95s and post-00s; secondly, gradually shift from a single brand to multi-brand; thirdly, develop a strategic scale based on user needs, and finally realize the Online-offline integration.” Chen Yuwen said, all efforts are to achieve the group’s mission and vision better that “Provide young women with the most cost-effective products and one-station beauty solution, so that all Women in the world canbecome more beautiful and powerful.”
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