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Slide #3. Vipshop Holdings Limited — Controlling Interest in Lefeng
Vipshop Holdings Limited (NYSE:VIPS)
Controlling Interest in Lefeng
Vipshop Holdings Limited (NYSE: VIPS) ("Vipshop" or the "Company"), China's leading online discount retailer for brands, announced today that it has acquired a 75% equity interest in Lefeng.com Limited ("Lefeng") from Ovation Entertainment Limited ("Ovation"). Lefeng owns and operates the online retail business conducted through lefeng.com, an online retail website specialized in selling cosmetics and fashion products in China. Immediately after the acquisition, the Company and Ovation hold 75% and 25%, respectively, of Lefeng. The total consideration payable by the Company for the acquisition is approximately US$132,500,000, including cash payment and financing in connection with assumed liabilities.
Vipshop Holdings is a holding company. Through its subsidiaries, Co. is engaged as an online discount retailer for brands in China. Co. provides products to consumers in China through flash sales mainly on its Vipshop Online Platform. Co. has provided product offerings from domestic and international brands, including apparel for women, men, and children, handbags and shoes, cosmetics, maternal and baby products, consumer electronic products, home goods, and other lifestyle products. Through its Vipshop Online Platform, Co. provides a selection of products and services for shoppers of varying age groups and income levels throughout China, so that they may shop branded products online.
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Buy (3.43 out of 4)