Women’s clothing brand Roman Originals has been inundated by calls since the photo became the center of an online debate.
Jumei, the leading online cosmetics retailer in China, began trading today on the New York Stock exchange.
Shares in the largest Chinese online retailer in the cosmetics category, Jumei International Holding Limited, began trading on the New York Stock exchange today.
The Beijing-based company priced its initial public offering of 11,140,000 shares at $22.00 for a total offering size of approximately $245.1 million.
After its first hour of trading, Jumei’s stock price jumped 15.7% to $25.45.
In addition, Jumei says it raised another $150 million by selling shares privately to investment firm General Atlantic Singapore Fund Pte. Ltd. Jumei also has offered its underwriters the option to purchase up to 1,671,000 additional shares at $22.00 per share within 30 days of its IPO.
If those options are exercised, the total funds raised through the IPO and private placement would be up to $432 million.
Jumei, No. 11 in the 2014 Internet Retailer China 500 Guide, has been growing rapidly, both through selling merchandise itself on Jumei.com and by operating an online marketplace where other merchants sell. The gross merchandise value of goods sold on Jumei.com totaled $816.6 million in 2013, a 785% increase from$ 92.3 million in 2011.
Cosmetics have become the third-largest category of China online shopping, according to the China E-commerce Research Center, a Chinese market research firm. Jumei’s major rivals in China include Alibaba’s two marketplaces, Taobao.com and Tmall.com, JD.com and Amazon China.
Before Jumei, four Chinese e-retailers have listed in U.S stock market. They are books and media e-retailer Dangdang Inc., catalog and fashion retailer Mecox Lane Limited, fashion flash sales e-retailer Vipshop Holdings Ltd. and cross border e-retailer LightInTheBox Holding Co., Ltd.
Jumei’s IPO is just the beginning for U.S. IPOs of Chinese e-commerce companies this year. The largest Chinese e-retailer, JD.com, plans to begin selling its shares on NASDAQ next week, aiming to raise about $1.5 billion. Also, Chinese e-commerce giant Alibaba Group Holding Ltd. has disclosed plans for an IPO in the U.S. within the next several months, and analysts expect the company will be valued by Wall Street at well over $100 billion.
JD.com ranks No.1 in the Internet Retailer China 500, Amazon China, No. 4; Vipshop, No. 7; Lightinthebox, No. 28 and Mecox Lane, No, 266.
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