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China's Perfect Diary woos cosmetics shoppers via social media

Its three keys to success: speed, price and big data

Perfect Diary opened a physical location at this shopping center in Guangzhou, China. (Photo by Yusuke Hinata)

TOKYO/GUANGZHOU -- Yatsen Holding, the Chinese startup behind the fast-growing Perfect Diary cosmetic brand, owes its dizzying ascent to a laser focus on the social media generation.

Yatsen nearly quintupled revenue in just a year. The former unicorn listed on the New York Stock Exchange in November and now boasts a market capitalization of around $11 billion.

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