Asian Tech Press (Jan 13) -- Sequoia Capital China announced that it will acquire a majority stake in WE11DONE, a global fashion label based in Seoul. Last year, Sequoia Capital China became the controlling shareholder of French designer brand AMI and the first investor in international fashion e-commerce company SSENSE.

Regarding this investment in WE11DONE, Sequoia Capital China said it will use its global resources and experience in technological innovation and retail innovation to accelerate WE11DONE's entry into China.

WE11DONE, co-founded by friends Jessica Jung and Dami Kwon, is recognized for its co-ed, street fashion, and fusion of Eastern and Western aesthetics.

After the acquisition, the two founders will continue to retain an equity stake in the company and will continue to steer the brand's style and design. Chief Operating Officer Sang Mo Kim will also continue to be in charge of the overall business.