China’s Jumei invests in power bank company Jiedian

The country’s leading retailer of beauty pushes ahead with an ‘all-in’ strategy in technology innovation

China’s leading online beauty retailer has made a RMB300m investment in Shenzhen Jiedian Technology.

Jiedian is a portable power bank sharing business that supplies footfall-heavy locations such as shopping malls and beauty salons.

The power boxes contain multiple power banks that users can plug their smartphones into in order to recharge them; an accompanying app can be used to locate the nearest box.

Leo Ou Chen, Founder and CEO of Jumei, said: "The sharing economy is rapidly developing as hundreds of millions of Chinese consumers have embraced internet mobility as a way of life, both professionally and socially.

“Intensive smartphone usage creates a vast market for Jiedian's innovative services and network. This strategic investment in Jiedian will allow us to further expand our eco-system to the forefront of mobile internet business and is an important portion of Jumei's all-in strategy to ride the new wave of technology innovation."

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