SEALBEAUTY.COM SAID TO WIN USD20MN FROM SEQUOIA CAPITAL

AsiaInfo Services
06-02-2011
Sealbeauty.com Said to Win USD20mn from Sequoia Capital

GUANGZHOU, Jun 02, 2011 (SinoCast Daily Business Beat via COMTEX) -- A person in the know reveals that Sealbeauty.com, an underwear factory-to-customer (F2C) e-commerce Web site, has gained USD 20 million from Sequoia Capital.

Sealbeauty.com is under the aegis of Guangzhou Huar Garment Co., Ltd., a leading maker of underwear under the first-tier brands of Europe and the US based in Mainland China and founded in 2000.

Sealbeauty.com was established by a Guangzhou trade company after winning CNY 150 million from Guangzhou Huar Garment, which was used by the investment target for the construction of online marketplace, hardware equipment and warehouses. The trade company itself put CNY 50 million in the prophase marketing and promotion of Sealbeauty.com.

In recent years, Chinese B2C companies experienced rapid growth. The listings of E-Commerce China Dangdang Inc. (NYSE: DANG) and Mecox Lane Limited (Nasdaq: MCOX) attracted more investment to the Chinese e-commerce market. Sequoia Capital is believed to be interested in the high-tech underwear developed by Sealbeauty.com. However, Sequoia Capital officially denies the report of the investment.

Source: www.chinaventure.com.cn (June 02, 2011)

KEYWORD: GUANGZHOU INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: Internet & Online Services
E-commerce
SinoCast China Business Daily news
underwear
F2C
e-commerce
Guangzhou
B2C
investment

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