How far is Peroya caught up with the "L'Oreal"?

This original article comes from WeChat public account: DT Finance (ID: dtcaijing), text: Awen; Editor: Tang Yeqin visualization: Qi Tongyu; Yunying: Su Hongrui; Supervision: Tang Yeqin.

The linkage of Perrya and Yu Xiuhua this year attracted a lot of attention.

A photo of Yu Xiuhua, coupled with the love concept of "love valuable and more free life", has made many people move. A single Weibo was reposted more than 7,000 times, and the number of likes reached 63,000. In addition to Mi Xiuhua's view of love full of vitality, netizens also praised Perlaya's "vision" and "connotation" in the comments.

Perlaya's lap this year is not only the brand activity of this love theme.

Public information shows that during 618 this year, Perlaya's brand transactions in Tmall, Douyin, and JD.com were the first -maker domestic products. According to the Magic Mirror Market Intelligence data, in 2022, of the TOP10 brand in the 618 Tmall beauty industry, Perlaya's sales ranked 5th, a year -on -year growth rate of 75.6%.

DT Finance wants to disassemble to see what kind of company Peroya is a company? What kind of opportunities do you seize? What challenges do you face?

After listing at a high speed, large single product revenue exceeds 100 million yuan

In 2017, beauty skin care was hot, and the beauty giant made a lot of money in the Chinese market. L'Oreal Group's sales in the Asia -Pacific region in 2017 increased by 12.3%year -on -year, and the Asia -Pacific sales of Estee Lauder Group, an official spokesperson, increased by 33%year -on -year.

This year, Perlaya, which has been founded for 14 years, was launched. At that time, Person, a second- and third -tier cities, and Perlaya, who positioned second -tier and third -tier cities, and had more than 20,000 offline sales outlets, had declined for two consecutive years. In 2015 and 2016, their revenue growth rates were -5%and -1%, respectively.

After listing, Perlaya's revenue increased all the way, with a growth rate of 10%in 2017. Since 2018, the growth rate has been maintained at more than 20%. Among them, the main brand Peroya accounted for about 80%of the Group's overall revenue each year. In other words, the company's growth in recent years has mainly relied on the main brand Perrya.

It is worth noting that in 2020, due to the epidemic, the growth rate of Perlaya's brand revenue has slowed significantly, only 12.43%, which is 7.57 percentage points less than the overall revenue of 20%. The huge offline channels have become disadvantages in the epidemic.

However, this has also become the online push of Perlaya's channel: In 2019, Perlaya's online and offline sales can still be divided into autumn. In 2020, its online revenue accounts for 70%. %.

In 2021, the growth rate of Perlaya's single brand revenue exceeded 28%. The online sales channels alleviate the impact of the epidemic to a certain extent, and what truly supports the growth is the "big item" strategy mentioned repeatedly in the financial report release.

The so -called "big product" strategy is to concentrate resources to build and promote the main products, and rely on it to occupy the market and obtain profits.

According to Perlaya, in 2021, about 60%of Tmall's revenue contributed by large items, and the revenue of large items during the "Double 11" period accounted for a higher proportion of about 70%.

From the perspective of Jiuqian data, in 2021, the high -sales product of Perlaya Tmall's high sales, the single -price double anti -essence, ruby ​​essence, and ruby ​​cream of the unit price exceeded 100 million yuan in annual sales. The performance of the two essences is particularly outstanding. The sales of double anti -essence 2.0 exceeded 240 million, and Ruby Essence 2.0 also brought nearly 200 million sales.

From the perspective of sales figures, the "double resistance" series and "ruby" series are probably the large items pushed by Perrya.

In terms of generallands, the growth of Polia Group mainly depends on Perlaya, and Perlaya's growth is relying on online channels and large items. But how did these large items come out? DT Finance has compiled Peroya's popular product information and marketing actions in recent years, and found that the demand for "younger" is the key to getting breakout.

Perlaya's big item: lock the first old age

Perlaya's early products were mainly engaged in hydration, and the extremes of the extreme sea royal white light plastic series, marine ampouled repair series, deep -sea collagen cream and other products were launched one after another.

It can also be seen from the revenue figures that the growth of skincare products is no longer rapid. In 2019, Perlaya's revenue rate declined.

In 2020, Perlaya launched the double antibody essence of "anti -sugar, antioxidant" and the "anti -wrinkle anti -aging" ruby ​​essence, which reached a new high in the following year.

Further analyzing the two products, we found that they stepped on the two trends of young people's skin care.

First of all, the focus of the two essences is to meet the skin care demands against the early old.

Double antibody "anti -sugar anti -oxygen" and "anti -aging" effects, which are the main focus of "anti -sugar and anti -oxygen", are the skin care hotspots of young people in recent years.

According to the "White Paper of Skin Care in the Post -Extraction Times", from 2018 to 2020, the consumption scale of anti -aging products continued to increase, of which the proportion of consumption in the post -90s and post -95s continued to expand. Young people's pursuit of young people is becoming more and more intense. The effect of double anti -essence and ruby ​​essence just meets this demand.

Secondly, Perlaya's pricing was cut into the rational consumption trend of high cost performance of the "ingredient party".

After hyaluronic acid, nicotinamide, and neosamide, the round of component marketing and Amway, the more skin care people pay more attention to the effects of scientific ingredients. The investigation of CBNDATA in 2020 shows that 90%of female consumers will pay attention to the "ingredient party" of the composition formula. The six peptides, vitamin alcohols, and shrimp are added among the two "big items" of Perlaya, both of which have been quite popular in recent years. According to the ingredients, the two items can also be used in accordance with the combination of "Early C and Night A". In 2021, the set of the two products brought 297 million sales to the official flagship store of Perlaya Tmall.

Compared with the products on the market, these functional ingredients also bring competitive advantages to Perrya. Many high -end skin care brands have the same or similar ingredients as "big products". Compared to the pricing of hundreds of big names and even a thousand yuan, Perrya looks extremely cost -effective.

Person's marketing: from traffic to popular propositions

In addition to the product aiming at young people, Perlaya also tried to make the brand image closer to young people. The company's report describes a series of brand actions in recent years as "let consumers feel‘ Peroya is really different ’.”

The effort to cost the brand youth is most intuitive in "smashing money". Prior to 2017, Peroya's annual sales costs were maintained below 700 million. By 2021, the sales costs had approached 2 billion.

The proportion of sales expenses in revenue has also risen, 36%in 2017, 40%in 2020, and in 2021 to 43%. In other words, in 2021, Perlaya spent more than 40 % of the income on sales.

Some of the sales of sales are reflected in Perlaya's non -stop marketing activities in recent years. Inventory of marketing incidents from Peroya from 2018, we discovered some of these changes and characteristics.

In 2018, Perlaya's youthful marketing stayed in conventional operations such as officials and voids of officials and young people. Beginning in 2019, Perlaya began to use the "young" as part of the brand spirit, to play the slogan "while you are young," and focus on the brand tone. Micro -film and more frequent interaction with young people.

The slogan of "Discover" has been more specific in the past 3 years. The change is mainly reflected in two aspects:

First, cooperate with youthful representatives/brands to be close to the circle of young people.

In recent years, Perlaya's cooperation targets have COSER, designers, bands, and Naixue's tea, Fuji and other young people like brands.

It is not difficult to see that Perlaya tried to expand the brand's influence on different young circles through KOL and brands on different circles.

Second, cooperate with the authoritative cultural person/official agency to issue claims on social issues.

Beginning in 2020, Perlaya focused on social issues and cooperated with cultural institutions or official institutions to issue clear claims.

In culture, Perlaya's unidirectional space, Shanghai translation, poet, and even a few people who are concerned about the wake -up lion women's class, not all of them have huge traffic, but they all have a strong cultural meaning. In terms of authority, Perrya will also jointly speak with different issues with the "China Women's Daily", "China Youth Daily", and People's Daily.

At the topic level, Perlaya pays attention to social issues that young people are more concerned about in recent years, such as gender definition, growth significance, love attitude, and family division of labor, and will put forward more clear claims, such as "Gender is not a border line, prejudice is" "dare to love love" Dare to love "" Family responsibility is not only visible to mothers ", etc., and hit a large number of young people's attitude.

Product control, R & D, and brand incubation are still challenges

Despite the dazzling revenue and marketing circles, Perlaya still faces many challenges.

The first is the problem of quality control.

In April of this year, after the evaluation of the Blog Mascies, the sunscreen power and quality control of Perlaya felt sun protection and quality control, and some consumer reactions had skin discomfort. On April 28, Perlaya officially responded that due to the "difficult production process" and "different frequency finished products", it affected the experience experience and started related after -sales service. The product has been removed.

(Source: Official Weibo of Perlaya)

This response did not relieve consumer concerns. The official blog is full of messages that "dare not use" and "look at the sunscreen that has not been dismantled."

Secondly, in the face of Venona and Run Baiyan, such as the same high -speed skin care domestic goods, Perlaya's pressure is not small.

The more important skin care, the more important the support of R & D is. Perlaya's R & D expenses have always been about 2%of the revenue ratio, and it has declined in 2020. In 2021, R & D expenditure was 77 million.

And Venona's parent company Betaii, although the R & D expenditure has been lower than Perlaya before 2021, the proportion in revenue has always been higher than Perlaya. In 2021, R & D expenses reached 113 million. Huaxi Bio, a hyaluronic acid giant behind Yan's back, pays attention to research and development. In 2018, R & D expenses accounted for more than 4%of revenue, and the proportion was higher. In 2021, R & D expenditure reached 284 million.

Peroya may notice the pressure of R & D competition. In the first quarter of this year, R & D expenditure was nearly 30 million yuan, an increase of nearly 70%year -on -year. It remains time to verify whether it can keep the market positioning of "big products". Furthermore, compared to the ambition of "becoming a world -class beauty company", Perlaya's own ability to incubate and operate the brand is not strong.

L'Oreal, Estee Lauder, Shiseido and other beauty giants have a huge brand matrix.

Only a cosmetic category, L'Oreal has Helena, Lancome, L'Oreal, Estee Lauder has the mystery of sea blue, Estee Lauder, Clinique, Shiseido has skin keys, Shiseido and Anjisha. famous brand.

In professional makeup, hair care, and fragrance, giants also have mature brands. Perlaya has not yet been involved in the fragrance. Except for the other 7 brands of Perlaya, only the professional makeup brand Caitang has improved in 2019.

According to the 2021 financial report information, in addition to the 80%revenue, Caitang's revenue was 246 million, and the total revenue of the remaining 6 brands was 409 million, accounting for only 8.85%of the overall revenue. Perlaya has incubated more than ten years, such as "Youlai" and "Han Ya", such as revenue or reputation, failed to arouse water.

The achievements of the large single product strategy and the younger brand seem to have given Person a strong needle.

Last month, Perlaya launched an employee stock incentive plan for the three years of the assessment period. Based on the revenue and net profit of 2021, the three accounting years from 2022 to 2024 corresponding to the three release restriction periods, three lifting of the termination period, and three lifting of the termination period. The assessment criteria for the sales period are not less than 25%, 53.75%, and 87.58%of revenue and net profit. See Perlaya's confidence and ambitions for future performance.

But to truly become a first -class beauty company, Perlaya is going to go long and long.

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