Perfect Diary is a Chinese cosmetic powerhouse. At Chemlinked, we think the brand encapsulates all the key elements needed for success in China's markets. To help international stakeholders succeed in China, we have dissected Perfect Diary's strategies and will offer key insights on product development, marketing, retail and channel selection, new retail, and Perfect Diary's utilization of private domain traffic to drive massive sales.
In recent years, Chinese domestic cosmetic brands have started to compete with international rivals in China’s medium to high-end cosmetics segments. From 2012 to 2018, the total market share of domestic makeup products companies in the top 20 makeup products companies increased from 7.6% to 14.1%. In the 618 shopping festival 2019, the turnover of 589 domestic cosmetic brands increased by over 100%, and the turnover of 183 domestic brands increased by more than 1000%.
Among all these domestic cosmetic brands, Perfect Diary, a brand only established three years ago, has risen to prominence to become China's most important domestic brand. Perfect Diary was the top-ranked makeup brand by sales in both the 618 shopping festival and the double 11 shopping festival in 2019. Analysts reckon that the turnover of this brand in 2019 was over 3.5 billion Yuan. In this webinar, we will look at the rise of Perfect Diary and analyze the key elements of their business and product development strategy.