Cosmetics Site Miqi.cn Aims for Profitability in 2013

TechWeb, 12/11/12

Chinese cosmetics vertical e-commerce platform Miqi.cn recently revealed that the company has begun to break even, and will work to build multi-channel, cross-platform partnerships with a goal of becoming profitable in 2013.

Editor's Note: Miqi.cn was established in 2010 and initially positioned itself as a group-buy site for cosmetics. In October 2011, Miqi announced that it had completed the transition from group-buy site to vertical cosmetics e-commerce platform, though the company said it would continue to acquire cosmetics channel suppliers and cosmetics group-buy sites. Miqi received an angel investment of RMB 25 mln in March 2011.

Editor's Note: For more background on this topic, please see "Miqi Launches B2C Cosmetics Channel" MD 10/24/12 issue.

Keywords: funding e-commerce Internet B2C Miqi group buying

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