AsiaInfo Services
01-28-2011
Taobao.com Vendor Finances CNY100mn
SHANGHAI, Jan 28, 2011 (SinoCast Daily Business Beat via COMTEX) -- Online kids' clothing retailer Green Box Network Technology Co., Ltd. lately completed the second round of financing reaching CNY 100 million, the largest among Taobao.com vendors. More than three months ago, the company just finished the first round of financing hitting CNY 20 million.
Green Box is just burgeoning. The company started selling kids' clothing on Taobao.com from December 2008. The next month, its sales value hit CNY 120,000. On November 11, 2010, the figure reached CNY 10.5 million on the single day.
Currently, Taobao.com generates 80% of Green Box's online sales value and the rest comes from m18.com and VANCL. Next, Green Box will debut its existing brands on brick-and-mortar stores.
Reporters find out that Green Box operates kids' clothing according to brands with different styles, which is rare in China but popular abroad. For example, Eland from South Korea forayed into the kids' clothing market in 1999. By far, it has been operating sixteen brands, three of which have been sold in China with different style orientations.
Source: www.yicai.com (January 28, 2011)
KEYWORD: SHANGHAI INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: Internet & Online Services
E-commerce
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kids'clothing
financing
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