Sales To End Customers was Yatsen Holding’s largest revenue line in fiscal 2025, bringing in $3.65B of $4.30B (85%).
| Contract with Customer, Sales Channel | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Sales To End Customers | $3.15B | $2.89B | $2.81B | $3.65B | ||||
| Sales To Distributor Customers | $546.54M | $514.78M | $572.54M | $641.33M | ||||
| Sales To End Customers Through Platforms | — | — | — | — | ||||
| Sales To Platform Distributor Customers | — | — | — | — | ||||
| Other Sales Of Product By Channel | $13.77M | $9.76M | $8.50M | $10.54M | ||||
| Total | $3.71B | $3.41B | $3.39B | $4.30B |
Yatsen Holding brought in $4.30B from its three revenue lines in fiscal 2025, the year ended December 31, 2025. That was up 26.7% from $3.39B in fiscal 2024. Sales To End Customers was the largest at $3.65B (84.8%), ahead of Sales To Distributor Customers at $641.33M (14.9%) and Other Sales Of Product By Channel at $10.54M (0.2%).
Compared with fiscal 2024, Sales To End Customers grew 29.7% to $3.65B and Sales To Distributor Customers grew 12.0% to $641.33M. From fiscal 2022 to 2025, combined revenue from these revenue lines grew from $3.71B to $4.30B, a compound annual growth rate of 5.1%. Sales To End Customers' share held steady at about 84.8%.
Skincare Brands was Yatsen Holding’s largest segment in fiscal 2025, bringing in $2.28B of $4.30B (53%).
| Segment | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| Color Cosmetics Brands | $2.42B | $1.97B | $1.97B | $2.01B | ||
| Skincare Brands | $1.24B | $1.38B | $1.39B | $2.28B | ||
| Others | $49.09M | $57.47M | $31.81M | $14.88M | ||
| Total | $3.71B | $3.41B | $3.39B | $4.30B |
Yatsen Holding brought in $4.30B from its three segments in fiscal 2025, the year ended December 31, 2025. That was up 26.7% from $3.39B in fiscal 2024. Skincare Brands was the largest at $2.28B (53.0%), ahead of Color Cosmetics Brands at $2.01B (46.7%) and Others at $14.88M (0.3%).
Compared with fiscal 2024, Skincare Brands grew 63.5% to $2.28B and Color Cosmetics Brands grew 1.9% to $2.01B. From fiscal 2022 to 2025, combined revenue from these segments grew from $3.71B to $4.30B, a compound annual growth rate of 5.1%. Skincare Brands' share of the total rose from 33.5% to 53.0%.
Yatsen Holding (YSG) reports its revenue by contract with customer, sales channel and by segment. In fiscal 2025, Sales To End Customers was its largest revenue line, bringing in $3.65B (84.8% of the total), followed by Sales To Distributor Customers at $641.33M (14.9%).
Sales To End Customers was Yatsen Holding's largest revenue line in fiscal 2025, bringing in $3.65B, or 84.8% of the $4.30B total across its three revenue lines.
Skincare Brands was Yatsen Holding's largest segment in fiscal 2025, bringing in $2.28B, or 53.0% of the $4.30B total across its three segments.
Sales To End Customers grew faster than Sales To Distributor Customers in fiscal 2025, up 29.7% from $2.81B to $3.65B. Sales To Distributor Customers grew 12.0% to $641.33M.
Every figure comes from Yatsen Holding's annual financial filings, as reported. Each line keeps the name Yatsen Holding gives it, and years follow its fiscal calendar.
Yatsen Holding's revenue by contract with customer, sales channel goes back to fiscal 2018, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.