Yatsen CEO: Science is the key to success in China
Yatsen Founder, Chairman and CEO, David Huang has says Chinese consumers are still willing to spend on beauty products – as long as they work. In an interview with Bloomberg’s China Show, Huang said the company’s strategic shift towards innovation-led premiumization is paying off. The post Yatsen CEO: Science is the key to success in China appeared first on Global Cosmetics News.
THE WHAT? Yatsen Founder, Chairman and CEO, David Huang has says Chinese consumers are still willing to spend on beauty products – as long as they work. In an interview with Bloomberg’s China Show, Huang said the company’s strategic shift towards innovation-led premiumization is paying off.
THE DETAILS Some 3 percent of Yatsen’s revenue is now allocated to R&D, Huang said, putting the company among global leaders in innovation spend ratio in the beauty category. The company has returned to profitable growth with a long-term focus on value creation.
THE WHY? Huang told the China Show, “Turning around a public company isn’t easy. But we knew where the market was going—toward science-backed, benefit-driven beauty. We invested over US$80 million in R&D, filed more than 240 patents, and published in top-tier journals like Nature Medicine and Science Bulletin.”
The post Yatsen CEO: Science is the key to success in China appeared first on Global Cosmetics News.
