Online Shoes Store, Locondo.jp Raises 700M Yen /ITmedia

The Jade Group operating Locondo.jp, EC site of shoes, announced that it concluded allocation of new shares of 700 million yen to venture capitals. It will use the capital to enhance lineup of items and marketing.

The site was launched in this February. It has grown with a return policy that customers can return goods within 99 days of arrival without shipping and handling. Monthly visitors surpassed 1 million in September.

Investors at the round include Lead Capital Management, Itochu Technology Ventures, and others. The total amount of capital became 2.2 billion yen. ...

ITmedia 10/31/2011 [jp]

memo

• The Jade Group was founded in 2010 October funded by German-based venture capital, Rocket Internet.