Initial Investment of Over RMB 80 Million Marks a New Era of Innovation for the Company SHANGHAI , June 5, 2024 /PRNewswire/ -- On May 28 , Yatsen Group, the parent company of Perfect Diary, held the grand opening of the new Global Innovation R&D Center ("the Center") in Shanghai . As the first1 global innovation R&D center for domestic beauty companies, it received an initial investment exceeding RMB 80 million ( US$ 11 million ), and spans approximately 4,000 square meters. The new Global Innovation Center will further strengthen Yatsen Group's research and development capabilities.
Present at the opening ceremony were Huang Jinfeng, Founder, Chairman, and CEO of Yatsen Group, Cheng Jing, Chief Science Officer, as well as other partners and industry experts. Coming all the way from Brazil , the Chairman of the 34th IFSCC, Ms. Vania Leite , noted that China's cosmetic industry has been developing rapidly over the past decade.
More Chinese cosmetic brands have made a place in the IFSCC, which is known as the "Nobel of Cosmetics." She acknowledged Yatsen Group's research achievements over the past few years, having submitted high-quality papers and receiving multiple awards. She also mentioned looking forward to establishing a stable and long-term cooperative relationship with Yatsen to jointly promote the development of the global and Chinese cosmetic industry.
Raising the standards for cosmetic innovation and R&D, Yatsen has designed and established a leading first-class env.
