Alibaba Invests RMB 90 Mln in Cosmetics Retail Management Solutions Provider Pekon
36Kr.com, 7/19/18
Shanghai-based cosmetics industry-focused retail management solutions provider Bingkun Digital Technology (Pekon) recently announced completion of RMB 90 mln in Series B funding led by Chinese internet conglomerate Alibaba Group (NYSE: BABA) with participation by prior-round investor LightHouse Capital Management. Pekon has now completed more than RMB 110 mln total funding.
Pekon is an offline retail management solutions services provider focusing on cosmetics brands. Its products include retail point-of-sale software, customer relationship management software, data products and services, and retail smart hardware. It has served more than 100 cosmetics brands, including six of the world's ten foremost cosmetics groups. Pekon handles data for more than 100 mln transactions each year and provides marketing service data support for more than 50 mln members.
Pekon has set up a new retail operations services division to help brands utilize their new retail capabilities. It is also developing a next-generation retail management light coding open platform to serve as business and data middleware for brand retail management, to help meet brand demand for customized services and rapid delivery.
Keywords: VC M&A Bingkun Pekon Internet funding Series B Alibaba Group BABA Lighthouse Capital new retail
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