Sequoia invests in Chinese online retailer
Sequoia Capital has invested an undisclosed amount into China-based retailer and wholesaler Milanoo.com. According to a press statement, the invested funds will be used to strengthen the company's product supply system, optimize the online shopping platform and to attract new talent to the company's team of business and marketing professionals.
Milanoo.com primarily focuses on wholesale fashion apparel. It is a leading supplier of fine jewelry, Cosplay items and wigs as well as women's lingerie, formal wear, wedding attire, shoes and handbags. Milanoo.com's inventory also includes men's fashion and accessories, bedding, kids' clothing and toys, housewares and yoga essentials.
Milanoo.com says the investment will allow the company to make improvements to its business plan, which will allow Milanoo.com to provide its customers with better products, lower prices and a more enjoyable shopping experience.
Since its inception in July of 2008, Milanoo.com has grown by leaps and bounds. Milanoo.com has consecutively increased its revenue by 600% each year that the company has been in business. In the last three years, Milanoo.com has grown to serve customers in over 180 countries around the world in seven of the most popular languages - including English, Spanish and French.
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