Chinese online cosmetics retailer Jumei has filed with the US Securities and Exchange Commission for IPO under the ticker symbol of “JMEI” to raise up to $400 million funds.
The site offers branded beauty products, fashionable apparel and other lifestyle products by leveraging current sales formats of curated sales, online shopping mall and flash sales.
Founded in March 2010, the company’s total net revenues increased by 970.4% from US$21.8 million in 2011 to US$233.2 million in 2012 and further increased by 107.1% to US$483.0 million in 2013. After swinging to profitability to record a net profit of US$8.4 million in 2012, Jumei has booked profits for seven straight quarters, according to the document.
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