Victoria Cotton CEO Lin Company to face the media for the first time and disclose the current situation of funds

"Sadie Network Message" March 21 news, recently, Lin CEO in the company after the first time to face the media, and revealed the current situation of capital flow.

"There has never been a coo or a massive layoff," he said, "and we were laying off 15 people in February to meet the company's current development and balance." Lin also revealed that the current number of workers in the cotton is more than 60 people.

In February this year, Cotton came out of mass layoffs, and many of the workers claimed to take it to court.

Electric dealers This year's day is getting worse, a few days ago, where the chief Financial Officer (CFO) Zhu Jiwen left, and in the beginning of this month to return to the financial director, the news that every guest will also suspend the IPO plan.

Cotton has opened 30 million a-round financing since last August, but it has not been successful and several investors have withdrawn their funds halfway. Lin said it started restarting last week.

When asked about the company's financial situation, Lin laughs that "the company has food to eat!" ”

"This is a two-month capital chain will be more tight, two months later will be much better," Lin stressed that this does not imply that a round in place, "mainly sales, cash flow will be better."

Lin said that at present, although the life of cotton is difficult, but still adhere to the next step will focus on the development of cotton Stockings category, to attract more female groups of users. Last year, the main movement of cotton in category expansion is the introduction of business men's socks and underwear products, attracted a large number of male business-oriented users. The introduction of the stocking category will further enhance the proportion of female users, and increase online purchase of the relationship.

It is reported that the cotton will be next week and Jingdong Mall to cooperate with the first silk stockings will be landed on the home, and Taobao and beautiful said the cooperation is also in progress.

Lin said that at present, although the life of cotton is difficult, but still insist, "last year, the main movement of the cotton in category development is the introduction of business men's socks and underwear products, attracted a large number of male business-oriented users." The introduction of the stocking category will further enhance the proportion of female users, and increase online purchase of the relationship.