‘All girls, buy it!’ In China, Perfect Diary gives cosmetics world a makeover with livestreams, low prices

Customers wearing face masks shop at a Chinese cosmetics brand Perfect Diary store, following the coronavirus disease (Covid-19) outbreak in Beijing, China. — Reuters

BEIJING/HONG KONG: With chat groups, video streams and low prices for foundation, China’s Perfect Diary has emerged from nowhere four years ago to become a cosmetics giant for the digital age, trailing only L’Oreal and LVMH in the world’s No 2 market for make-up.

The Guangzhou-based beauty unicorn is now setting its sights on a Hong Kong initial public offering (IPO). Before that, it's driving into South-East Asia, targeting more millennial social media users like Wen Shan, a 21-year-old student from Guangdong.