Shanghai Lili&Beauty Cosmetics Co., which operates licensed online shops for major Western cosmetics brands, has raised $100 million in a Series B financing round led by Singapore-based investment firm the Crescent Group. Other investors in this funding round include two luxury groups, LVMH Moet Hennessy Louis Vuitton and Compagnie Financiere Richemont SA and two Chinese investment firms, Milestone Capital and New Access Capital, according to Lili&Beauty.

LVMH is No. 208 in the Internet Retailer China 500 and Richemont is No. 51.

Founded in 2007, Lili&Beauty operates branded stores on Chinese marketplaces, such as Alibaba Group Holding Ltd.’s Tmall.com, under license from cosmetics brands. About 40 international brands, including Lancôme, Biotherm and Maybelline, have worked with Lili&Beauty to sell products to online consumers in China. Lili&Beauty has more than 600 employees and owns four warehouses in China, the company says.

The branded stores provide a guarantee of authenticity that many Chinese consumers want, the company says. “Our products are directly procured from manufacturers, so we can guarantee the products are authentic,” Lili&Beauty chief operating officer Kimmey Huang tells Internet Retailer. “The trend is consumers buying more online. Online sales now account for 5% to 10% of total sales for beauty products in China and that number will probably jump to 30% by 2020.” 

The funds would help Lili&Beauty find more international brands that want to reach Chinese web shoppers. “We plan to open offices in the U.S. and Europe in this year and we will help more brands sells into China,” Huang says.