Yatsen Holding Limited is a global beauty technology company that develops and markets color cosmetics and skincare products through multiple complementary brands, primarily Perfect Diary targeting young, trend-conscious female consumers in China, alongside the luxury British skincare brand Eve Lom and children's brand Little Ondine. The company generates revenue principally from direct product sales through an omnichannel distribution model combining e-commerce platforms (its primary sales channel) with direct-to-consumer retail stores, supplemented by platform commissions and licensing arrangements. Yatsen operates primarily in China with emerging international expansion in Southeast Asia, leveraging proprietary research and development capabilities and digital marketing expertise to compete in the mass-premium and luxury beauty segments.