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Perfect Diary is Seeking a New Round of Financing of USD 100-200 Million
COVID-19 and China
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According to The Information, Perfect Diary is seeking a new round of financing of USD 100-200 million, with a post-valuation of USD 4 billion. In the past year, Perfect Diary's valuation grew from USD 1 billion to USD 4 billion, a year-on-year increase of 300%, making it the unicorn with the most significant valuation surge.

On July 2, 2020, Bloomberg reported that Perfect Diary had selected Goldman Sachs and Morgan Stanley to arrange IPOs. The fundraising scale is estimated to be between USD 400 million and USD 500 million, which may be conducted as early as the end of 2020, but it has not yet decided whether it will be listed in Hong Kong or the United States.

As a fashion beauty brand, Perfect Diary has completed its offline layout covering 22 provinces and 47 cities across the country. In the next three years, it plans to open 200 stores in East China and 600 stores nationwide. In the past three years, Perfect Diary's revenues surged from 0 to CNY 3 billion.

However, as offline beauty stores such as HARMAY and Noisy Beauty have successively received favor from investors of Perfect Diary, the rising star still has a long way to go.

Editor: Luke Sheehan
ANALYST
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