Word has been whirling that luxury site Jiapin.com would be shut down. Throughout the luxury e-commerce market, more players are losing their flame. The downturn started since second half of 2011 when Wooha.com closed down, Xiu.com layed off its staff and CEO of VIPKu resigned. Why the crisis all of a sudden and any chance they can weather the downturn?

Bad News Pouring In

The Chinese luxury B2C market got started from 2009 on. At that time, lots of entrepreneurs and investments saw the picking up trend in this sector and flocked to it. Unexpectedly, in two years bad news pours in. Nice dream becomes a nightmare and a hot potato for many investors.

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Charlie Sheng

动点科技驻湾区记者. Charlie is an entrepreneur based in San Francisco and Hong Kong who calls herself the undefeated caffeine champion. You can reach her at charlie.sheng (at) technode.com