Quick Take: Sina (SINA) and China Dongxiang (3818.HK) Invest in Mecox Lane (MCOX)
Domestic internet portal operator Sina and a subsidiary of sportswear retailer China Dongxiang, the China distributor of the Kappa brand, have entered into separate agreements to acquire a combined 29% stake in online clothing retailer Mecox Lane, which operates the m18.com fashion website and a network of retail stores. While the material benefit for Sina and Dongxiang will be limited in the short run given the small size of Mecox Lane's business, the moves represent initial steps for both buyers into the rapidly expanding e-commerce business.
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