Perfect Diary's Parent Company Loses in Color Cosmetics but Gained in Skincare

Chaileedo Press
Aug 30, 2022
3 min read

Updated: Aug 31, 2022

Abstract: Perfect Diary's parent company YSG achieves revenue of $266 million in the first half of 2022. Its second-quarter revenue declined 37.6% year-on-year and skincare increased 49.2% year-on year.

Lately, YSG released its second quarter results for the period ended June 30, 2022, showing that the company achieved revenue of $137.6 million, down 37.6% year-on-year, but its skincare business rose 49.2% year-on-year to $46 million.

As we all know, in the second quarter of this year, the global economic recession trend is obvious. Especially the repeated epidemic in China resulted in China's consumer beauty market can be said to have fallen to the bottom. According to the data released by the National Bureau of Statistics, in the second quarter of this year, the total retail sales of consumer goods fell by 4.6% year-on-year. In addition, Unilever, Estee Lauder, LG Life Health and many other international beauty companies have also mentioned the negative impact of the domestic epidemic on their Asian market performance or group results in their first half-year financial reports.