Xiu.com Plans US IPO for Autumn 2012
DoNews, 9/07/11
Huang Jin, co-founder and chief strategy officer of Shenzhen based fashion e-commerce firm Shenzhen Zouxiu Network Technology (Xiu.com), has announced that the company plans to IPO in the US in the fall of next year.
Xiu.com will focus on expanding supply chain capability and negotiating potential overseas partnerships, according to Huang, who added that the company plans to IPO immediately on the New York Stock Exchange or Nasdaq stock exchange after it completes third-round funding.
Xiu.com is currently maintaining 25% average monthly sales growth, and Huang predicts 2012 revenue will reach RMB 2-3 bln. The company's 2011 sales target is RMB 1 bln, and last year was RMB 250 mln.
Turning to specific future development plans, Huang said that in addition to continuing to attract famous foreign designer labels, the company will also exhibit six in-house designed products during Shanghai Fashion Week in October this year, and will exhibit a further ten in 2012.
Editor's Note: For more information on this topic, please see "Fashion B2C Xiu.com Secures USD 100 Mln Second-Round," MD 8/17/11 issue.
Keywords: e-commerce Internet IPO Nasdaq NYSE funding revenue B2C sales target third-round Huang Jin Xiu.com online fashion
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