Get the free version of Marbridge Daily delivered to your inbox

Click here to subscribe

Online Handbag Retailer Mbaobao Obtains USD 30 Mln Funding

Sohu IT, 9/16/10

Ye Haifeng, CEO of Chinese online handbag B2C e-commerce firm Mbaobao, has disclosed that the company has USD 30 mln in first-round funding from Doll Capital Managment and Legend Capital.

In terms of future development, Ye stated that Mbaobao had not yet begun seeking a second round of funding, and that the company had no plans to pursue an IPO any time in the next 1 to 2 years. Ye also said that Mbaobao's sales revenues this year were 8 to 10 times that of the same period last year.

Mbaobao was established in September 2007, with angel funding from the Italian handbag firm Visconti Diffusione SNC. Mbaobao established the "European Mbaobao Fashion Research Center" in Italy, and a self-built production base in Jiaxing, Zhejiang Province. Mbaobao.com has approximately ten thousand varieties of handbags, including products designed for fashion, business, leisure, outdoor sports and other purposes.

Currently, the vast majority of Mbaobao's sales come from Alibaba Group's C2C and B2C e-commerce site Taobao.

Keywords: Ye Haifeng apparel Mbaobao e-commerce Internet B2C 0861.HK Doll Capital Management Legend Capital

Feedback

Please note, all fields are required.
None of your personal information will be shared with third parties.

SendingSending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily Premium

Interested in gaining full access to all newsletter articles and the Marbridge Daily archive? To learn more about premium subscription options, including pricing, please:

Click here

Marbridge Consulting RSS Feed

Marbridge Reports