Yatsen showcases its impressive accomplishments at trade expo

Chinese beauty group Yatsen Holding is showcasing its latest achievements in global expansion and research and development at the fourth China International Import Expo, demonstrating the enterprise's competence and social responsibility.

Products from premium skin care brands Galenic and Eve Lom, which are beloved by customers around the globe, have been catching the eye of visitors at the CIIE. These two brands were acquired by Yatsen in the past two years, heralding an exciting chapter in Yatsen's story of expanding its global footprint.

Huang Jinfeng, founder and CEO of Yatsen, said: "Bringing the world's outstanding high-end skin care brands and products to Chinese consumers can extend our reach in the high-end market and move us toward having multiple brands and products that can be assigned to multiple categories."

Other than products, Yatsen is showcasing new technologies created by its R&D system Open Lab through collaborations with other renowned labs. Yatsen's Open Lab is an open-source R&D ecosystem, a collaboration network with top-tier original equipment manufacturers and original design manufacturers, renowned research institutions and prestigious universities. The goal of Open Lab is to develop cutting-edge, highly efficacious and proprietary ingredients and formulations, taking the latest innovations from the field of biochemistry and medical aesthetics for applications in beauty.

Yatsen's R&D partners so far include Sensient Technologies, Pierre Fabre, Cosmax, Intercos and the national engineering research center for nanomedicine of the Huazhong University of Science and Technology.

In September, together with the Institute of Chemistry at the Chinese Academy of Sciences, the company succeeded in creating the SmartLock technology, which is applied to its loose powder product.

As of the end of June this year, Yatsen owned 84 patents worldwide. Of these, 37 are invention patents while others are being transferred. In the second quarter of this year, the company poured about 35.2 million yuan ($5.5 million) into product development, taking up more than 2.3 percent of the total revenue in the second quarter. Yatsen's huge R&D spending is on an equal level with international beauty giants.

On Nov 6, Yatsen signed cooperation agreements with Cosmax, Intercos Group and Shanghai Ruijin Hospital. This will lead to a stronger Open Lab and a greater capability to innovate and develop core technologies, a company executive said.

"We have a team that not only understands the Chinese market, but also has an international vision. We integrate international advanced technology into China's industrial chain to promote internal circulation and embrace the dual-circulation development pattern with abundant scientific research and industrial strength," Huang said.

"To date, the Chinese beauty industry is able to compete with its global counterparts for R&D capability."

Looking ahead, the company said it will seek world-leading partners to incorporate cutting-edge technologies into the world of beauty and develop more products tailored to customers' growing beauty needs.

"Yatsen keeps expanding its business scope. We are constantly working with external partners to develop innovative products. We have expanded from color cosmetics to skin care across multiple price tiers and product categories. Our brand portfolio includes both domestic and international brands and we look beyond China for growth. Yatsen is committed to leading Chinese and global consumers to explore an exciting new journey of beauty," Huang said.