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Online beauty retailer takes minority stake in It°S SKIN.
June 3, 2015
By: Christine Esposito
Chinese beauty e-tailer Jumei 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, according to Jumei. “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,” said Leo Ou Chen, founder and CEO of Jumei. “It°s Skin will greatly benefit from the growing size and scale of our platform.”
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