NEW YORK, Oct 26 (Reuters) – China-based online retailer Mecox Lane Ltd (MCOX) priced shares in its initial public offering above the expected range on Monday, according to an underwriter.

The company, which sells clothing and accessories to young, urban women, sold 11.74 million American Depositary Shares for $11 each, raising about $129.17 million. It had planned to sell shares for $8 to $10 each.

Mecox Lane also operates the website M18.com. The company had about 2.1 million active customers for its website as of June 30.

Mecox Lane posted net revenue of $108.03 million in the six months ended June 30, up 41.6 percent from a year earlier. Its net income fell 37.7 percent in the same period to $2.53 million.

Mecox Lane’s backers include venture capital firm Sequoia Capital.