Jumei buys into Korean cosmetics brand

Chinese online beauty products retailer Jumei International has bought a minority stake in Korean beauty brand It’S Skin.

It’S Skin is described as “a prestige Korean beauty brand that has become very popular amongst Chinese consumers”.

Leo Ou Chen, founder and CEO of Jumei, said  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 Sin is an ideal partner for Jumei to collaborate with as we build Jumei Global into the largest cross border eCommerce platform in China.

“It’S Skin will greatly benefit from the growing size and scale of our platform,” he concluded.

Jumei, listed on the NYSE, is China’s leading online retailer of beauty products as measured by gross merchandise volume, with a market share of 22.1 per cent in 2013.

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