Xiu.com, a China-based fashion online retailer, has raised $100m in Series B funding.
The round was led by Warburg Pincus, which was followed by KPCB China.
Earlier in 2011, Xiu.com raised $20 million from KPCB (read here).
The company intends to use the funds to source global brands, recruit additional people and enhance its logistics capacity.
Led by founder and CEO Ji Wenhong, 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.
Warburg Pincus said that it plans to further expand its investment in Xiu.com, based on the market and company development.