Jumei buys into Korean cosmetics model
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Chinese language on-line magnificence merchandise retailer Jumei Worldwide has purchased a minority stake in Korean magnificence model It’S Pores and skin.
It’S Pores and skin is described as “a status Korean magnificence model that has turn into very fashionable amongst Chinese language shoppers”.
Leo Ou Chen, founder and CEO of Jumei, stated the recognition of Korean magnificence merchandise in China has grown quickly over the previous few years.
“With an in depth catalogue of status merchandise, It’S Sin is a perfect companion for Jumei to collaborate with as we construct Jumei International into the most important cross border eCommerce platform in China.
“It’S Pores and skin will drastically profit from the rising measurement and scale of our platform,” he concluded.
Jumei, listed on the NYSE, is China’s main on-line retailer of magnificence merchandise as measured by gross merchandise quantity, with a market share of 22.1 per cent in 2013.
Questions & Answers
Q.What kind of company is Jumei Worldwide and what is its business focus?
What kind of company is Jumei Worldwide and what is its business focus?
Jumei Worldwide is an online retailer based in China, specialising in beauty products. It is listed on the NYSE and was China’s leading online beauty retailer by gross merchandise volume in 2013.
Q.Why did Jumei Worldwide choose to invest in It’S Skin specifically?
Why did Jumei Worldwide choose to invest in It’S Skin specifically?
Jumei's CEO stated that Korean beauty products are very popular in China, and It'S Skin, with its extensive catalogue of prestige products, is an ideal partner for Jumei's cross-border eCommerce growth.
Q.How will It’S Skin benefit from Jumei's investment and partnership?
How will It’S Skin benefit from Jumei's investment and partnership?
It’S Skin is expected to significantly benefit from the increasing size and scale of Jumei's platform. This collaboration aims to help Jumei Global become the largest cross-border eCommerce platform in China.
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