Jumei Acquires Minority Stake in Korean Cosmetics Brand It’S SKIN
It'S SKIN is a prestige Korean beauty brand that has become very popular amongst Chinese consumers.
Jumei International Holding Limited, China‘s leading online retailer of beauty products, today announced that it has acquired a minority stake in It’S SKIN, a Korean beauty brand. It’S SKIN is a prestige Korean beauty brand that has become very popular amongst Chinese consumers.
Mr. Leo Ou Chen, founder and CEO of Jumei, stated, «The popularity of Korean beauty products in China has grown rapidly over the past few years. With an extensive catalogue of prestige products, It’S SKIN is an ideal partner for Jumei to collaborate with as we build Jumei Global into the largest cross border e-commerce platform in China. It’S SKIN will greatly benefit from the growing size and scale of our platform.»
Jumei (NYSE: JMEI) is China’s No. 1 online retailer of beauty products as measured by gross merchandise volume, with a market share of 22.1% in 2013, according to a commissioned research report by Frost & Sullivan.
Jumei’s internet platform is a trusted destination for consumers to discover and purchase branded beauty products, fashionable apparel and other lifestyle products through the Company’s jumei.com website and mobile application.
Leveraging its deep understanding of customer needs and preferences, as well as its strong merchandizing capabilities, Jumei has adopted multiple effective sales formats to encourage product purchases on its platform, including curated sales, online shopping mall and flash sales.
