Latham & Watkins and Han Kun Law Offices have advised Vipshop Holdings, an online discount retailer for brands in China, on its $420 million acquisition of Shan Shan Commercial Group, through one of its wholly-owned subsidiaries, with Tian Yuan Law Firm counselling the seller. 

The milestone transaction represents Vipshop’s efforts in exploring online and offline integration in its core business which now has brick-and-mortar stores in Beijing, Guangzhou, Changsha, Shenyang, Tianjin and Hefei. Ningbo-headquartered e-commerce company Shan Shan Outlets gives Vipshop physical presence in new locations which includes Taiyuan, Harbin, Zhengzhou, and Nanchang with five more outlets in the pipeline. 

Vipshop, backed by Tencent and JD.com, saw its profits surge earlier this year. The company booked about $308 million in revenue in the first quarter of 2019, yielding a net income of about $126.4 million in the same period. 

The Latham & Watkins team was headed by partner Frank Sun.  Partner Chen Dafei led the Han Kun team, while Tian Yuan’s team was led by partner Cao Chenggang. 

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