Yatsen Holding Ltd. (NYSE:YSG) raised $617 million in a US IPO in November 2020, valuing the company at $7.82 billion. Since going public, Yatsen Holding shares have been down approximately 66.5% since their IPO. On a recent episode of Bloomberg's The China Show, David (Jingfeng) Huang, founder, Chairman, and CEO of Yatsen Holding Ltd., offered a look into how the once buzzy C-beauty company is evolving from a trend-savvy start-up into a global innovation leader. From a growing portfolio of brands to deep investments in science and R&D, Huang positioned Yatsen as a rare hybrid—both agile and deeply rooted in long-term thinking. He believes beauty is being redefined and intends for Yatsen to be a leader in the next era of beauty. Founded in 2016, Yatsen first captured the industry's attention with its C-beauty unicorn Perfect Diary valued at $4 billion in 2020 . Since then, the company has expanded to 11 brands across mass, masstige, and premium positioning, reflecting a deliberate strategy to address varied consumer needs with differentiated propositions.Some of the brands in the portfolio include Little Ondine, Abby’s Choice, Pink Bear, and Dr. Wu (mainland China). The group acquired Galénic from French pharmaceutical and dermo-cosmetic group Pierre Fabre in 2020 as well as homegrown microbiology skincare brand EANTiM and Eve Lom from Manzanita Capital in 2021."Our vision was always to build a next-generation beauty tech company," Huang explained. "From trend-driven to science-backed, we now offer products across all major segments—what unites them is innovation.