Anna Fang, CEO of Zhen Fund, still remembers casting a perfect diary. At that time she was more than 9 months pregnant and was close to delivery, but she met her founding team with a big belly. In less than an hour of meeting and meeting, Fang Aizhi gave TS (Investment Letter of Intent), and did not even meet in the real room.
“Because I and the founder have known each other for a long time, they have been cultivating in the beauty and skin care industry for many years. For the true philosophy of seeing people, they are in line with our investment requirements. So I want to quickly settle down and make no mistakes. Love Zhixiang said to Tiger Sniff Pro.
Huang Jinfeng, CEO of Perfect Diary, once worked for Procter & Gamble, and later served as COO of Yunifang; COO Chen Yuwen was the former general manager of pure e-commerce. The founding teams are all from the beauty and e-commerce industries.
This investment later became the proud work of a real fund. First, because of the early intervention time, it is said that it took only 1 million to get 16% of the equity; second, because no one expected the perfect diary. Explosive growth within three years:
The Tmall store was opened in 2017. The first time to participate in the Double Eleven in 2018, it exceeded 100 million sales in 90 minutes; the second time to participate in the Double Eleven in 2019, the total turnover exceeded MAC and other international brands. Became the first domestic brand to reach the top of Tmall Double Eleven Makeup List.
The valuation has doubled one after another. According to public reports, the valuation of the perfect diary of the A round of financing in 2018 was about 100 million US dollars. By September 2019, it had reached 1 billion US dollars in the B round of financing, and the C round of financing in April 2020. The valuation doubled again to $ 2 billion.
Fang Aizhi believes that the explosive growth of the perfect diary lies in the accurate grasp of the user base: “Young girls around the age of 20 have just started to contact beauty products and have certain brand and cost performance requirements for the products.” On the other hand, it caught a new wave of media trends and reached a large number of users through platforms such as Xiaohongshu. “The characteristic of this communication method is that it is not a one-way output of the brand to consumers, but there is interaction between the two. This method is the communication method favored by the new generation of consumer groups.”
At present, there are many analysis articles about the latter on the market, and this article is not exempt.
But what is more worthy of in-depth thinking than creating an explosive model is how to grow from an online celebrity brand to a long-term brand. As the person in charge of Perfect Diary said in an interview with Tiger Sniff PRO, “Perfect Diary hopes to create a long-term virtuous cycle of the brand, not just an explosion.”
Tiger Sniff Pro dismantles the development history of the perfect diary in just three years, divided into three chapters, the first chapter is to create explosive products, thisAt this stage, the key to the development of Perfect Diary lies in seizing the rise of Xiaohongshu; the second chapter is how to continue precise marketing. Extend the life of explosion models.
But whether it is the first stage or the second stage, it is a carnival of explosions rather than a victory of the brand. For the Perfect Diary, how does the new chapter change from the explosion to the brand, and the brand is settled down? This is what the Perfect Diary is currently doing its best and is the biggest problem that many Internet celebrities need to solve.