Taishan Invest
VIPStore Receives New Round of Investment Led by Intel Capital / Investment and technology promote fashion e-commerce in China
Taishan Invest / Key word(s): Miscellaneous
VIPStore Receives New Round of Investment Led by Intel Capital – VIPStore received new round of investment led by Intel Capital, with participation by GSR Venture, Taishan Invest AG, Moraún Investments, Leading Royal King and HGI Capital – The investment will be used to further strengthen VIPStore's global supply chain and enhance the user experience to promote fashion e-commerce in China VIPStore, one of the leading online retailers of international premium fashion brands in China, today announced a new round of investment, led by Intel Capital, with participation by GSR Ventures, Taishan Invest AG, Moraún Investments, Leading Royal King and HGI Capital. Allen Yang, CEO of VIPStore, Richard Hsu, managing director of Intel Capital China, and Raymond Yang, founding partner of Taishan Invest AG, attended the press conference in Beijing. Allen Yang, CEO of VIPStore, said, 'We are thrilled to have Intel Capital as our strategic investor. VIPStore will use this new round of financing to introduce more global brands, as well as further strengthen the global supply chain and expand the logistics systems. In addition, the fund will be used to optimize the user experience to better meet the needs of China's growing brand name consumer market. Our goal is to utilize the technology and resources of world-leading IT companies and to work with world-class brand names to excel in fashion e-commerce for the fast-growing market in China.' Richard Hsu, managing director of Intel Capital China, said, 'Advancing the consumer internet experience is essential to Intel's long-term strategy. Our investment in VIPStore is helping to support and grow a segment leader in an innovative retail experience that will accelerate consumer usage of the internet and broaden the ecosystem for Intel products.' Raymond Yang, founding partner of Taishan Invest AG, said, 'With the continuous growth of GDP, China will become the largest luxury market in the world. VIPStore's fast growth is driven by the market's needs. In addition, VIPStore has a great team. The core management team is composed of e-commerce experts, retail veterans, as well as fashion and art talents, all with rich experience in operation management. That's crucial today when talent is the first competitive power. As the first investor of VIPStore, we will support VIPStore along the road to enhance customer experience and improve service quality.' Shortly after VIPStore's establishment in 2009, the company received an investment from Taishan Invest AG as the first investor.
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Na Lu End of financial news 30.09.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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