Lafaso 2011 Revenue Reaches RMB 1 Bln

Tencent Tech, 2/29/12

Wang Licheng, CEO of Beijing-based women's B2C e-commerce site Lafaso.com, has disclosed that Lafaso's ad spend exceeded RMB 20 mln and revenue reached RMB 1 bln in 2011. Total registered users as of the end of 2011 exceeded 5 mln.

Lafaso expects its annual sales revenue to reach RMB 3 bln in 2012, when it will launch 10 self-owned brands and expand into apparel sales.

Lafaso recently launched its "Incubator Plan" which will invest hundreds of millions of RMB in developing grassroots brands not only in the cosmetics space but also in the fashion apparel industry.

Wang stressed that Lafaso is not simply an e-commerce website or a social networking community, but is a brand developer whose main competitor is Hutchison Whampoa Limited's retail chain Watson Group.

Editor's Note: For more background on Lafaso, please see "Lafaso 2009-2010 Combined Profit Reaches RMB 100 Mln," MD 8/03/11 issue.

Keywords: online advertising statistics sales target apparel e-commerce Lafaso Internet revenue B2C registered users Wang Licheng online fashion

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