Cosmetic Revenue Structure Optimization and Market Challenges
2024-12-19
Financial reports show that Yatsen E-commerce's total net revenue in the third quarter was 677 million yuan, a year-on-year decrease of 5.7%, but the gross margin increased to 75.9%.
The net loss narrowed to 121.1 million yuan, which was a reduction compared to the same period last year. Yatsen's CFO, Yang Donghao, stated that the revenue decline was in line with expectations.
Notably, there is a change in Yatsen's revenue structure, with the proportion of skincare product revenue increasing from 36.0% in the same period last year to 39.6%, indicating a trend towards a healthier revenue structure.
Under the concept of "makeup and skincare integration," Yatsen E-commerce's makeup division has launched products such as bionic membrane essence series lipsticks and BB creams.
However, the market's acceptance of this concept still needs to be observed. In contrast, some emerging brands have gained broader recognition through more direct product concept communication and marketing strategies. Nevertheless, Perfect Diary, as the most important makeup brand under Yatsen, has initially matured in terms of customer perception and marketing model, and its future direction will be "stability and evolution."
In recent years, the investment and financing situation in the beauty market has been pessimistic, with a significant decline in both the amount and quantity of investment and financing.
Yatsen E-commerce went public at the peak of the beauty investment and financing scale, enjoying the market's dividends.
However, for Chinese beauty brands that went public later, the reference value of Yatsen's layout and listing path is not significant. In the future,
the beauty market will enter an era of refined operation, and it will be difficult to see the birth of the next "Perfect Diary."
The development of "international big brands" in China is also approaching saturation.
Against this backdrop, as the first domestically listed personal IP beauty brand, Mao Ge Ping is expected to pave a new path.
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