Chinese Online Cosmetics Retailer Jumei Eyes US IPO

on February 13 2014 | in Beauty Digital | by | with No Comments

jumei.com, online cosmetics retailer, Chinese cosmetics market, US IPO, Dior

Chinese cosmetics retailer Jumei.com has plans for an initial public offering in the US, reports The Wall Street Journal.

The Beijing-based company sells cosmetics brands such as Dior and Lancome, generally through flash sales on the Internet and mobile apps.

The IPO, which is expected later this year, may raise $600 million at a valuation of $3 billion for the company.

Jumei is a player in the $24 billion Chinese cosmetics market and is estimated to have over $1 billion in sales in 2013 and is profitable.

The company has received venture money from US and European firms, including Sequoia Capital.

Recently, there has been a flurry of Chinese Internet companies who are positioning for IPOs, including Beijing-based retailer JD.com and Chinese e-commerce company, Alibaba.

 

 

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