Shanghai Mecoxlane International Mailorder Co., Ltd., a B2C mail-order operator in China, has filed an application with the US Securities and Exchange Commission (SEC) for a Nasdaq listing, the China Business News reported Friday, citing sources with the SEC.

If the application is approved, Mecoxlane plans to raise about US$100 million through the initial public offering. The fund will be used on the construction and improvement of its network and its 140,000-square-meters global operations center in Jiangsu. Established in 1996, Mecoxlane is the first foreign invested mail-order company approved by the Chinese government. Warburg Pincus Co. was its initial controlling shareholder. After eight years of losses, Sequoia Capital China injected more than US$80 million and took control of Mecoxlane. The company started reporting profits since then.

Mecoxlane's annual sales volume is now over US$1 billion and came through three sales channels; namely internet order, mail order and retail stores. Sales from its online shop account for more than half of the total sales.

Mecoxlane has been accelerating its expansion of offline retail stores. In 2010 alone, they have opened over 300 stores, for a total of 450 stores across China.

China's business press carried the story above on Friday. China.org.cn has not checked the stories and does not vouch for their accuracy.

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