Taobao holds three-day cosmetics sales event

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Taobao holds three-day cosmetics sales event

Taobao, an affiliate of Alibaba, the world’s largest e-commerce company, is holding a Korean cosmetics sales event from Thursday to Saturday.

Jointly hosted by Alibaba and the Korea Trade-Investment Promotion Agency (Kotra), the event aims to grab Chinese consumers who make last-minute purchases via online after the National Day holidays.

More than 38 Korean cosmetics companies, including Missha and Cloud 9, are participating in the event.

According to Kotra, China’s import of Korean cosmetics was about $370 million in the first half of this year, an increase of 250 percent year-on-year.

Online direct purchases between Korea and China require no certifications and are allowed a tax break on purchases of more than 50 yuan.

Taobao is Alibaba’s consumer-to-consumer portal. It is similar to eBay and features nearly a billion products.

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