Xiu.com follows $20M with another $100M round

Chinese e-commerce site now boasts two famous VC firms, Warburg Pincus and Kleiner Perkins

Xiu.com, the biggest high-end fashion retailer in China, announced Thursday that it has raised $100 million in Series B funding from Warburg Pincus and Kleiner Perkins Caufield & Byers (KPCB). The company claims that it is the largest second round of financing for any Chinese e-commerce company in history.

Having both Warburg Pincus and KPCB is a major feat for Xiu.com, as both are classic venture capital firms that have invested since the 1960s and 70s.

Even more remarkable: this new round arrives just four months after the website closed a $20 million Series A, which had been led exclusively by KPCB. This time around, Warburg Pincus was the main investor.

"Xiu.com has attracted many top talents of this industry after winning the first round of money earlier this year,” said Zhou Wei, partner from KPCB. “By winning a second round financing in such short period of time reflects the recognition for its team competency and business model. We believe Xiu.com will increase its competitiveness even faster now and continuously lead in the e-commerce industry.”

Since its founding in March 2008, Xiu.com has always focused on middle to high-end luxury items across every market: clothing, accessories, home décor, beauty and more.

These days, however, it appears that the site has evolved a little bit, and is now selling technology items from Apple, including the iPad 2, iPod Shuffle, iPod Touch, iPhone 4 and all associated accessories. I’ve reached out to the company to learn when it started adding this new category.

Some examples of brands on Xiu.com include Coach, Gucci, Chanel and Hermes.

When the company raised its last round, in April, we reported that it was selling wares from over 2,000 brands, offering more than 30,000 items in total. (We’re still waiting to hear back to see if these numbers have been updated.)