Former VP of R&D at Estee Lauder in APAC Joins Perfect Diary's Parent Company
- Chaileedo Press
- Mar 9, 2023
- 2 min read
Jing Cheng has worked at Estee Lauder for over 17 years, holding positions such as Vice President of Research and Development at APAC. For recruiting Jing Cheng, it shows that Yatsen will continue to invest in research and development.
Jing Cheng, formerly Vice President of Research and Development for Estee Lauder Asia Pacific, has been appointed as Yatsen’s Chief Scientific Officer, effective March 8, 2023, according to the disclosure yesterday by Perfect Diary's parent company, Yatsen.
According to Yatsen, Jing Cheng holds a bachelor's degree in polymer science from Shanghai Jiaotong University and a master's degree in fine chemistry from East China University of Science and Technology. In 2009, she completed the Fudan University EMBA program jointly organized by Washington University in St. Louis and Fudan University.
Since then, she has worked in the cosmetics R&D industry for 25 years and has extensive R&D experience in headquartered international beauty groups: from July 2000 to July 2001 at Henkel, and from July 2001 to January 2005 at Revlon, where she led R&D quality control in China. Since then she has worked for Estee Lauder for over 17 years and has held various senior management and research positions at Estee Lauder since July 2014, including Vice President of R&D at APAC.
Previously, the products under Yatsen have been criticized by consumers for being of too poor quality. After its going listed in November 2020, its R&D expense ratio was approximately 2% by quarter, which is mid-range in the industry.
However, throughout 2022, the company's annual R&D investment accumulated 130 million yuan ($18.7 million) in 2022, and its R&D expense ratio continued to rise from 2.4% in 2021 to 3.4% in 2022, continuing to rank in the top tier of global R&D investment levels. Yatsen has publicly stated many times that it regards R&D as the underlying foundation to support the development of the enterprise and will continuously increase its investment to ensure continuous product innovation.
It is worth mentioning that in 2021, Yatsen signed a strategic cooperation with three top domestic and international research institutions and upstream and downstream partners at the China International Import Expo in Shanghai, namely Shanghai Ruijin Hospital, COSMAX and Intercos. In 2022, Yatsen signed a joint laboratory cooperation agreement with Sun Yat-sen University, and both parties will continue to carry out in-depth cooperation in the field of precision skincare.
Earlier, Yatsen and the National Nanomedicine Engineering and Technology Research Centre had already entered into strategic cooperation, with the two parties forming a joint laboratory to jointly develop and land a number of ingredients, such as Shuaminxiu H, Shuaminxiu L, salicylic acid nano-encapsulated microcapsules and other exclusive ingredients, to apply cutting-edge technological innovations to products for consumers' different skin needs.
Yatsen remains rationally optimistic about its performance outlook for 2023. Huang Jinfeng, Founder, Chairman and CEO of Yatsen, said, "In 2022, the company's strategic transformation has begun to bear fruit, and by establishing a business model for high-quality development and a firm layout. We have significantly improved our risk resilience. Looking ahead to 2023, we will continue to invest more in our brand equity and R&D strength to solidify our two core competencies and focus on the sustainable and healthy growth of our multi-brand matrix."
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