Mecox Lane Limited began trading on Tuesday, but the advance signs pointed to success. It is China's leading online platform for apparel and accessories with 79% of its sales coming via the web.
China's middle class is growing and has money to spend. Net revenues grew from $61.4 million in 2007 to $177.7 million in 2009. Retail sales of women's apparel are expected to grow 37% in China.
Mecox has also expanded its physical stores increasing from 27 branch stores in 2007 to 478 as of June 2010. The funds raised in the IPO are expected to be used to the improve the customer's e-commerce experience and build a logistics center.