The e-commerce industry was projected to surpass 750 billion yuan (US$118 billion) in gross merchandise value in 2011. This projection, along with similar projections of growth in middle-class spending on high-end goods in the next five years, is enticing more multi-brand retailers and brands themselves to invest in e-commerce platforms specifically for the China market. With dozens of luxury-focused online retailers to choose from, many of which are very well capitalized, the industry may be in dire need of a shakeout. Torsten Stocker, a partner at Monitor, recently told Jing Daily that the relative chaos of the market indicates to him that “luxury e-commerce in China is more on a natural evolution path, where new concepts and ideas are still being tested, and where it is still unclear what will work for which brand.”