Jumei becomes first Chinese e-commerce provider to stock Shiseido and Kose

By Michelle Yeomans

- Last updated on GMT

Jumei becomes first Chinese e-commerce provider to stock Shiseido and Kose
Beauty retailer Jumei, has announced that it will now stock Shiseido and Kose which it says is the first time these Japanese beauty brands have authorized a cross-border e-commerce company in China to house their ranges.

According to company CEO Leo Chen, Chinese consumers will now be able to access international beauty trends as new products by both brands will be launched simultaneously in Japan and on Jumei Global, in addition to those already on offer on the firm's domestic platform.

Revenue has also increased for the ambitious firm by a reported "99.9% year-on-year to RMB1.9bn"​, driven by Jumei Global.

Chen attributes this growth to a shift in consumption patterns in China as consumers upgrade their tastes, preferences and expectations for products.

“We continue to strengthen our position as a leading import cross-boarder platform in China and are pleased to see both active customers and a number of orders grow rapidly while maintaining a high repeat purchase rate,”​ adds Chen.

Jumei expects total net revenues for the fourth quarter of 2015 to reach between RMB1.83bn and RMB1.93bn.

Striving to get international products to China's consumers

The online beauty retailer recently acquired a minority stake in Korean prestige brand It'S SKIN, which has become extremely popular with Chinese consumers.

Demand for Korean beauty products in China has grown rapidly over the past few years.

According to Chen, with an extensive portfolio of prestige products, It'S SKIN is an ideal partner for the retailer to collaborate with.

"As we build Jumei into the largest cross border e-commerce platform in China,​ It'S SKIN will [also] greatly benefit from the growing size and scale of our platform​," he says.

The online beauty retail behemoth has mushroomed since its founding in 2012. The firm is now on track to earn a profit of $100m off sales of $1.3bn in 2013.

However, it has been reportedly fighting off competition from the likes of VIPshop for its' reputation as China's leading online cosmetics retailer, of late.

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