Luxe.Co China Investment Weekly 2017/09/16~09/22

Luxe.Co launched “Luxe.Co China Investment Weekly” in 2016, reporting weekly updates on investment and financing in the China fashion and lifestyle industries. The updates cover fashion, beauty care, food and beverage, sports and fitness, hotel and travel, household products, culture and creativity, and other related fields.

Fashion Online Platform

• Upscale e-commerce platform SECOO.com completed IPO at Nasdaq

The online integrated upscale products and services platform SECOO.com, rang the opening bell at the Nasdaq Market Site in Times Square in celebration of its initial public offering (IPO) on The Nasdaq Global Market on September 22nd. The initial public offering of 8,500,000 American depositary shares ("ADSs") is offered at a price to the public of US$13.00 per ADS for a total offering size of approximately US$110.50 million. At the same time, SECOO obtained 30 million USD investment from new investors, Chinese real estate group Country Green and Malaysian integrated infrastructure conglomerates YTL Corporation. SECOO was established in 2008, with four core business sections, SECOO shopping platform, SECOO Intelligence (smart product recommendation and smart assistant), SECOO auction and SECOO finance. SECOO provides to upscale customers with one-stop services of authentic luxury products, verification and evaluation, aftersales services and resale services. SECOO had net losses of 222 million yuan and 44.6 million yuan in 2015 and 2016, respectively. As of June 30th, 2017, the company reported a net profit of 52.3 million yuan, with a sales turnover of 1.9 billion yuan from its shopping platform, representing a 50.7% increase from 1.28 billion yuan in the same period last year. The total number of orders reached 0.37 million, and the average order value was around 5,000 yuan.

• O2O customized clothing platform YBREN.com obtained 50 million yuan Series B investment

O2O customized clothing platform YBREN.com announced on September 21st that they obtained 50 million yuan Series B investment. The investment arrangement was led by Beijing Maorong Investment, and followed by Jingji Venture Capital, Fenghe Investment and individual investor Jiong Wu. Previously YBREN obtained tens of millions of yuan Series A investment in September 2016. The new investment will be mainly used to optimize product supply chain, elevate product quality and improve lead time. YBREN went live online in June, 2015. The process is as follows: after customers make orders online, YBREN consultants take sample clothing and fabrics to visit customers, providing measuring data and customized solution for customers; then the order is sent to factories who oversee the production and delivery to customers. The total processing time is around 10 days. At present, the platform has 80,000 paid users, with the quarterly repeated purchase ratio of 20%, and the annual repeated purchase ratio of 50%. The average customer spending is around 2,700 yuan. YBREN had a sales turnover of around 70 million yuan in 2016. Current monthly sales turnover is around 40 million yuan.

Sports & Fitness

• Outdoor sports platform 117SPORT.com obtained tens of millions of yuan Series Pre-A investment

The outdoor sports platform 117SPORT.com announced on September 18th that they obtained tens of millions of yuan Series Pre-A investment led by Fengwei Venture Capital. Previously 117SPORT obtained tens of millions of yuan angel investment in October 2015. The new investment will be mainly used on market expansion. 117SPORT (previously known as Fengchao Sports) was established in February 2016. At present. hundreds of outdoor sports centers and outdoor sports planning companies in Zhejiang province are settle on the platform, covering over 30 different extreme sports activities including diving, canoeing, racing, polo, golf, power glider, helicopters and so on. Users can select the items published by merchants, or enter their preferences and publish their personalized demand. With smart algorithm, the platform will recommend activities based on users’ personalized demand. The platform has served an accumulated number of 1.5 million people currently.  

• Sharing Gym Outlet provider QuanMinKuPao (Everyone Runs in English) obtained seed capital from Yibing Chen

Sharing gym outlet provider QuanMinKuPao (Everyone Runs in English) announced on September 17th that they obtained seed capital from Olympic Champion Yibing Chen. The investment amount was not disclosed. QuanMinKuPao went officially online in September 2017. The gym outlet is around 4 square meters, equipped with treadmills, fresh air system, TVs, air-conditioning, Wi-Fi and other equipment. The hourly fee is 12 yuan. Each outlet is expected to reach break-even in 7 months.

 Household Products

• Household product brand Jordan & Judy obtained tens of millions of yuan angel investment

Household product brand Jordan & Judy announced on September 22nd that they obtained tens of millions of yuan angel investment from XKTG, Haifengzhicheng Investment, Juzhuo Capital, Honghuang Capital and Frees Fund. The co-founder of Jordan & Judy, Guofu Ye, is also the co-founder of MINISO, the famous household retail brand. Jordan & Judy targets the market between MUJI and MINISO. Instead of establishing their own distribution channels, Jordan & Judy will distribute through multiple channels. Jordan & Judy was a ODM factory originally, with six factories in Dongguan. The company was the supplier to hundreds of foreign companies, and was the largest suppliers to MINISO. At present, Jordan & Judy recruits domestic and international designers to create original ID (industrial design) and structural design, and to build their own brand. Jordan & Judy has launched 40 products with hundreds of SKUs.

• Pet product brand PIDAN obtained tens of millions of yuan Series A investment

Pet product brand Pidan announced on September 20th that they obtained tens of millions of yuan Series A investment by Crystal Stream Capital and Kunzhong Capital. Previously Pidan obtained seed capital from QF Capital, and angel investment from Cyan Hill Capital, Spade Capital and Faxian Venture Capital. The new investment will be mainly used on category expansion and overseas market expansion. Pidan was established in 2015 featuring a red-dot-design-award-winning cat sand basin. Pidan has 16 SKUs currently including toys, bowls, cat house, cat litter and other daily necessities, with a monthly sales turnover of around 5 million yuan. (Pidan is also a contestant for InnoBrand 2017 Shanghai Section)

The above information is based on the company announcement and/or online news. Luxe.Co makes reasonable efforts to obtain reliable content from third parties. Luxe.Co does not guarantee the accuracy of or endorse the views or opinions given by any third-party content provider.

| Chinese reporter: Jiaqi Wang

| Editor: Claire