Chinese online discount retailer VIPShop (NYSE: VIPs) announced today it has acquired 75% stake in Lefeng.com — aka LAFASO, an online beauty and fashion retailer, for USD132.5 million.

Since VIPShop has been centered on clothing/shoes/bags while Lefeng’s focus is cosmetics, the two companies are complementary.

Lefeng was established in 2008 as a subsidiary of Ovation Entertainment Ltd. — The TV show production company was founded in 2000 by Li Jing, a Chinese TV producer and host. Starting from cosmetics retailing, Lefeng later introduced group-buying, discount sales, and fashion clothing.

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Tracey Xiang

Tracey Xiang is Beijing, China-based tech writer. Reach her at traceyxiang@gmail.com