Venture Capital Company in China Fashion
Chinese online fashion retailer Milanoo recently announced a multi-million dollar investment from the Chinese arm of Sequoia Capital, which is one of Silicon Valley's largest venture capital company. Milanoo.com has grown rapidly since it started in 2008, consecutively increasing revenue by 600% each year.
The company today serves customers in over 180 countries around the world in seven languages. So it's no surprise it would attract the interest of a venture capital firm like Sequoia. The only problem with this picture is that a sizable amount of the merchandise that is offered for sale on Milanoo is counterfeit. These designer replica items include Christian Louboutin and Manolo Blahnik shoes and celebrity dresses. And these are not designer-inspired pieces like those sold by ASOS. These are items often portrayed on the site through a single image of celebrities on the red carpet wearing the originals.