Southern Metropolitan News, 2/28/08
Gu Beichun, chairman of MecoxLane, a Shanghai-based mail-order company, has revealed that Sequoia Capital has bought a controlling interest in the company for over USD 80 mln.
MecoxLane has several million mail-order clients and a diverse distribution and sales model based on phone orders, internet orders, and retail outlets. It offers clothing, jewelry, home goods, and cosmetics, and has an independent B2C portal, m18.com, as well as 30 Euromoda retail outlets. The company's goals for m18.com this year are to surpass Amazon.cn to become China's second largest B2C site, to grow to 100 retail outlets, and attract more than 5 mln users.