Chinese Cosmetics Retailer Jumei.com Said to Plan U.S. IPO

NEW YORK, United States — Jumei.com, a Chinese e-commerce company that sells cosmetics, is planning a U.S. initial public offering and will seek to raise about $500 million, two people with knowledge of the matter said.

Jumei, which sells products from Clinique lotion to Kiehl’s toner, is working with Goldman Sachs Group Inc. and Credit Suisse Group AG on a public listing in New York, said the people, who asked not to be identified because the process is private.

The Chaoyang, China-based company would join JD.com, the retailer formerly known as 360buy Jingdong Inc., in seeking capital in the U.S. JD.com filed last month to raise $1.5 billion in a New York offering.

Separately, Alibaba Group Holding Ltd., China’s largest e- commerce company, may go public this year, although it hasn’t disclosed a timeline or where it will list. Alibaba’s estimated valuation rose to an average of $153 billion after the company reported surging sales last month.

Spokesmen for Goldman Sachs and Credit Suisse declined to comment on Jumei’s plans to go public. Jumei didn’t immediately respond to a request for comment. The company is backed by venture capital firms including Sequoia Capital.

By Leslie Picker, Serena Saitto, with assistance from Jodi Xu, Fox Hu and Belinda Cao; Editors: Elizabeth Wollman, Reed Stevenson.