Vipshop and Ovation ink deal for online retail website

China's leading online discount retailer for brands has acquired a 75% equity interest in Lefeng.com Limited.

Vipshop Holdings Limited, China's leading online discount retailer for brands, has acquired a 75% equity interest in Lefeng.com Limited from Ovation Entertainment Limited.

Lefeng retail business is conducted through lefeng.com, an online retail website which specialises in selling cosmetics and fashion products in China. Immediately after the acquisition, Vipshop Holdings and Ovation will hold 75% and 25% of Lefeng respectively.

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