Only goods will be 55.8 million U.S. dollars to buy Oriental popular 23% shares

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Beijing time February 21 Evening News, only the goods will (Nyse:vips) announced today, according to the eastern popular and some of its shareholders reached the equity acquisition agreement, has been about 55.8 million U.S. dollars to buy the oriental popular 23% shares. Through the Chinese subsidiary of the Lok Bee Network, the Oriental popular focus on the development of independent brand cosmetics and media products.

Shenya, Chairman and CEO of the Product Council, said: "This strategic investment will enable the only products will be the continued supply of Oriental fashion brand Cosmetics, these products in our user base gradually increasing demand, and our users about 75% of the female." The popularity of the Orient in branding and marketing expertise will strengthen our brand, helping us to expand the user base and increase the purchase activity in the platform. Through the introduction of Oriental wind behavior Strategic partners, we will be in a very good position to explore China's growing cosmetics market, and strengthen our competitive edge. We will use synergy effect to build a comprehensive cosmetics product library. ”

Li, chairman and founder of Oriental Fashion, said: "We are delighted to strengthen our relationship with the sole product association." In the new online retailing era, we see great potential in our own branded cosmetics and other consumer products. By adding our goods on the platform of the only products, we will immediately acquire the consumers who will know a lot about the brand and greatly expand the sales potential of two companies. Oriental Fashion is very happy with the only product will cooperate, and will continue to develop our brand products independently. ”