Xiu.com, a Chinese luxury and fashion online shopping website, closed a $20m first rounf of funding from KPCB.
The investment will help the company deploy its growth strategy to invest more than $30m on enlarging Stock Keeping Unit (SKU) and purchasing scale, as well as improving service quality.
Founded in March 2008 by CEO Mr. George (Wenhong) Ji, Xiu.com is a vertical e-commerce company offering middle to luxury brand name fashion products – clothing, shoes, bags, ornaments, cosmetics and home decor. It sources products overseas and sells them in China.
Xiu.com has 10 buyer offices (in New York, Los Angeles, Miami, Australia, Paris, London, Italy, Korea, Hong Kong and Japan) with a collection of 2,000+ brands online, among which 120 are global luxury brands, and SKU number exceeding 30,000.