Jumei buys into Korean cosmetics model

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.