BEIJING, July 22, 2015 /PRNewswire/ -- Jumei International
Holding Limited (NYSE: JMEI) ("Jumei" or the "Company"),
China's leading online retailer of
beauty products, today announced that it has agreed to provide
BabyTree with a convertible loan and a revolving credit facility of
up to RMB1.55 billion (US$250 million). The principal of the convertible
loan portion of the transaction could reach as high as RMB744 million (US$120
million) depending on the working capital needs of BabyTree
and certain operating performance criteria being met. The loan will
be convertible into a minority interest in BabyTree based on a
pre-agreed formula. The revolving credit facility will be
RMB806 million (US$130 million), and drawdown by BabyTree will
also depend on the working capital needs of BabyTree and certain
operating performance criteria being met.
According to BabyTree, BabyTree is the largest online
parenting community in China, and is among the largest online
parenting communities globally as ranked by traffic
volume. Currently the DAU (daily active users)
of BabyTree has surpassed 10 million. BabyTree.com,
the website of the company, along with its mobile apps
"BabyTree Pregnancy" and "BabyTree Footprints," cover over 80%
of pregnancy-stage parents and parents of 0-6
year-old children in China. The
"BabyTree Pregnancy" app ranks number one among baby and maternity
mobile apps in China.
Mr. Leo Ou Chen, founder and CEO
of Jumei, stated, "This strategic deal with BabyTree will
strengthen our ability to create greater value in an important
demographic. We believe this market has vast growth potential.
Leveraging the enormous user base of BabyTree and Jumei's supply
chain and logistics expertise in cross border ecommerce, we are
confident to become the dominant female ecommerce platform in
China. We see significant
cross-selling potentials across all Jumei product categories."
Mr. Allen Huainan Wang, CEO of BabyTree,
commented, "The funds from this transaction will be used
to
develop BabyTree's businesses, especially our e-commerce segment. Teaming
up with Jumei will be a very beneficial partnership for us, and we
believe it will allow BabyTree's e-commerce
business to rapidly grow to become number
one in the baby and maternity sector. We believe
the cooperation will help us bring
about significant changes in the online retail industry of
parenting products."
About Jumei International Holding Limited
Jumei (NYSE: JMEI) is China's
leading online retailer of beauty products. Jumei's internet
platform is a trusted destination for consumers to discover and
purchase branded beauty products, fashionable apparel and other
lifestyle products through the Company's jumei.com and
jumeiglobal.com websites and mobile application. Leveraging
its deep understanding of customer needs and preferences, as well
as its strong merchandizing capabilities, Jumei has adopted
multiple effective sales formats to encourage product purchases on
its platform, including curated sales, online shopping mall and
flash sales. More information about Jumei can be found at
http://jumei.investorroom.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. Among other things,
quotations from management in this announcement contain
forward-looking statements. Jumei may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission ("SEC") on Forms 20-F and 6-K,
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about Jumei's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: the Company's goals and strategies; the
Company's future business development, results of operations and
financial condition; the expected growth of the Company's curated
sales, online shopping mall and flash sales in China; the
expected growth of Jumei Global, the Company's ability to attract
and retain new customers and to increase revenues generated from
repeat customers; its ability to obtain the authorization of more
exclusive products; its expectations regarding demand for and
market acceptance of its products and services; trends and
competition in China's online retailers of beauty
products; fluctuations in general economic and business conditions
in China and assumptions underlying or related to any of
the foregoing. Further information regarding these and other risks
is included in Jumei's filings with the SEC. All information
provided in this press release and in the attachments is as of the
date of this press release, and Jumei does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law.
For investor and media inquiries, please contact:
Jumei International Holding Limited
Mr. Sterling Song
Investor Relations Director
Phone: +86-10-5676-6983
kans@jumei.com
Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com
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SOURCE Jumei International Holding Limited