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Perfect Diary: on the way to top cosmetic brand in China
On the evening of November 19, Perfect Diary officially went public on the New York Stock Exchange (NYSE), with a listing price of $10.50 per share. It raised about $617 million in its initial public offering with an estimated market capitalization of nearly $7 billion. Thus, Perfect Diary has become the first Chinese cosmetics brand to list on the New York Stock Exchange.
It is reported that Yang Donghao, former CFO of Vipshop, was officially appointed as as CFO in Yatsen and took charge of Yatsen's IPO. Huang Xuande, former CFO of JD.com, is the independent director of Yatsen e-commerce.
Since its inception in 2017, in addition to the fast growth, Perfect Diary has attracted a lot of investors - Hillhouse Capital has led five rounds of its investment. Besides, with the support of ZhenFund, Hony Capital and Gaorong Capital, the company's valuation soared 40 times in 3 years.