Yatsen Holding, which produces cosmetics under the brands Perfect Diary, Little Ondine, and Abby's Choice in China, filed on Friday with the SEC to raise up to $100 million in a US initial public offering.
Yatsen currently competes in the rapidly evolving China beauty market. Founded in 2016, the company has launched three color cosmetics and skincare brands: Perfect Diary, Little Ondine, and Abby’s Choice. Together, these three brands served 23.5 million direct-to-consumer customers in the nine months ended September 30, 2020 and have produced rapid y/y sales growth of 377% for the company.
The Guangzhou, China-based company was founded in 2016 and booked $658 million in sales for the 12 months ended September 30, 2020. It plans to list on the NYSE under the symbol YSG. Yatsen Holding filed confidentially on August 18, 2020. Goldman Sachs, Morgan Stanley, CICC and Tiger Brokers are the joint bookrunners on the deal. No pricing terms were disclosed.
