Chinese Beauty Brand Service Provider Lalami’s IPO Terminated

It is reported that Lalami has incubated Naris, Byphasse, Ziaja, Gifrer and other overseas beauty brands.

Yesterday (July 3), the IPO status of Guangzhou Lalami Information Technology Co., Ltd. (abbreviated as “Lalami”) on the main board of the Shenzhen Stock Exchange was changed to “withdrawn” because the company applied for withdrawal of its application for listing.

(Credit: from Shenzhen Stock Exchange )

According to the prospectus, Lalami is an integrated e-commerce service provider for overseas quality cosmetic brands. The company’s main business includes Internet retail services and offline distribution, and the services provided to brands cover brand positioning, brand planning, etc.

According to the company’s official website, Lalami was established in 2012 and entered the e-commerce sector in 2014, shifting its business to provide one-stop brand management services in 2016. Li Tiantian, the founder of Lalami, previously said in a public interview with the media that the performance of Lalami’s beauty segment had doubled continuously since the beginning of its entry into the e-commerce sector in 2014.

It is reported that, as of the date of this prospectus, the company has incubated Naris, Byphasse, Ziaja, Gifrer, Casmara and other overseas beauty brands, and cooperated with brands in Japan, Spain, France, Poland, Australia, Belgium, the United States and many other countries or regions. For each period of the reporting period, the top five brands accounted for 86.44%, 90.80%, 89.84% and 89.47% of the Company’s total main business revenue respectively, representing a high degree of concentration in brand sales.

In terms of revenue, according to the prospectus published by Lalami, the Company achieved operating revenues of approximately 761 million yuan ($105.2 million), 784 million yuan ($108.3 million), 840 million yuan ($116 million) and 424 million yuan ($58.6 million) for 2019, 2020, 2021 and January-June 2022 respectively. During the same period, net profits were 63,874,800 yuan ($8.8 million), 58,088,200 yuan ($8 million), 60,175,000 yuan ($8,3 million) and 14,690,000 yuan ($2 million) respectively.

It is reported that in June 2022, Lalami submitted the “Approval for the Company’s Initial Public Offering of Shares (A-share SSE Main Board and Shenzhen Stock Exchange Main Board, B-share)”, officially taking the first step towards the IPO. In July, Lalami officially announced its prospectus to be listed on the Shenzhen Stock Exchange Main Board.

Lalami originally intended to issue no more than 20 million shares on the main board of the Shenzhen Stock Exchange, accounting for no less than 25% of the total share capital after the issue, and originally intended to raise 578,143,200 yuan ($79.9 million) for the brand incubation and operation promotion construction project, comprehensive operation centre construction project, information system construction project and supplementary working capital project.




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