US EUROPE AFRICA ASIA 中文
    Business / Gadgets

    Vipshop aims to eventually spin off Lefeng.com

    By Meng Jing (chinadaily.com.cn) Updated: 2014-02-26 14:46

    Vipshop aims to eventually spin off Lefeng.com
    A photo shows the front gate of Vipshop in Shanghai. [Photo / Image China]

    US-listed Vipshop Holdings, a leading online discount retailer for brands, said it hopes to spin off lefeng.com, a major online cosmetic platform, in which Vipshop owns a majority stake.

    Vipshop aims to eventually spin off Lefeng.com

    Jumei.com reportedly planning New York IPO

    Vipshop aims to eventually spin off Lefeng.com

    Lefeng.com, a major online cosmetic platform, is expected to operate independently of Vipshop, which acquired a 75 percent equity interest of the former at a price of $113 million in mid February.

    Tony Feng, vice president of Marketing&PR at Vipshop, said in the two companies' first joint media event on Tuesday, that lefeng.com will function independently as Vipshop aims to spin it off as a cosmetic arm when the time is ready.

    Until that time, Feng said that teaming up with Lefeng.com is a win-win cooperation, rather than a strategy to boost Vipshop’s market value as rumored.

    "Most of lefeng.com's users are those in first- and second-tier cities while Vipshop's users are mostly those in second-tier to fourth-tier cities. Through uniting with lefeng.com, we can expand our user group and cover more females in China," he said.

    According to Feng, the two companies expect to join efforts in procurement and logistics to lower costs and maximize profit.

    About one week after buying the control of Lefeng.com, Vipshop acquired a 23 percent equity interest in Ovation Entertainment Ltd, the parent company of Lefeng.com, for a total of $55.8 million.

    The deal, which was announced last Friday, signals a deepened partnership between the companies. Apart from lefeng.com, Ovation Entertainment Ltd is also engaged in developing its own cosmetic brands and media products.

    "Ovation's expertise in branding and marketing will also help drive up our brand equity, and will support our efforts to expand our user base and increase buying activities on our platform," Eric Shen, chief executive officer of Vipshop, said in an official statement.

    "With Ovation as a strategic partner, we are well positioned to expand full-force into the booming cosmetics segment in China and fortify our competitive advantages," Shen said.

    Overall transactions in China's online cosmetic market are expected to reach $120 billion yuan ($19.6 billion) by 2015.

    Don't miss:

    Vipshop aims to eventually spin off Lefeng.com

    Vipshop aims to eventually spin off Lefeng.com

    Top 10 brands that win rich women's hearts

    Chinese luxury shoppers flocking online: survey

    Hot Topics

    Editor's Picks
    ...
    ...
    宅男在线国产精品无码| 日韩精品无码一区二区三区AV| 人妻少妇看A偷人无码电影| r级无码视频在线观看| 人妻丰满熟妇aⅴ无码| 亚洲VA中文字幕无码一二三区| 久久精品无码一区二区无码 | 中文字幕亚洲欧美日韩2019 | 潮喷大喷水系列无码久久精品| 日日摸夜夜添无码AVA片| а天堂中文在线官网| 中文在线中文A| 国产精品99无码一区二区| 亚洲av无码一区二区三区在线播放 | 亚洲欧洲中文日韩久久AV乱码| 国产 欧美 亚洲 中文字幕| 2019亚洲午夜无码天堂| 午夜不卡无码中文字幕影院| 无码国产精品一区二区免费式影视 | 免费A级毛片无码专区| 亚洲中文字幕无码久久2020 | 曰韩精品无码一区二区三区| 精品亚洲欧美中文字幕在线看| 天堂中文在线资源| 日本aⅴ精品中文字幕| 狠狠躁天天躁无码中文字幕图| 亚洲AV中文无码乱人伦在线观看| 无码AV一区二区三区无码| 久久亚洲av无码精品浪潮| 国产精品热久久无码av| a级毛片无码兔费真人久久| 国产成人无码18禁午夜福利p| 精品无码久久久久久尤物| 精品人妻大屁股白浆无码| 国产成人精品无码一区二区| 国产产无码乱码精品久久鸭| 99无码熟妇丰满人妻啪啪| 亚洲成av人片在线观看天堂无码| 亚洲AV无码一区二区一二区| 久久精品中文无码资源站| 久久婷婷综合中文字幕|