Luxe.Co has launched “Luxe.Co China Investment Weekly” since 2016, reporting weekly updates on investment and financing in the China fashion and lifestyle industries. The updates cover fashion, beauty care, food and dining, sports and fitness, hotel and travel, household products, culture and creativity, and other related fields.
Fashion Online Platform
- Second-hand luxury goods e-commerce platform XINSHANG (心上, 91xinshang.com) obtained 50 million US dollars Series C investment
The second-hand luxury goods e-commerce platform XINSHANG announced on January 8th that they obtained 50 million US dollar Series C investment. The investment was led by GGV Capital and Joy Capital, and followed by Northern Light Venture Capital. Previously Xinshang obtained tens of millions of US dollars Series B investment in September 2016. The new investment will be mainly used on expanding product categories, upgrading back-end, team building and etc. XINSHANG went live online in November 2015, mainly providing services including verification, maintenance and improving trading efficiency. Their income source is the commission from trading and self-managed high-profit-margin maintenance services. Currently, the unit price per customer is around 3000 yuan. Each month, sales increases over 30% and new customer repeated purchase is over 30%.
- Taiwan e-commerce platform Citiesocial obtained 2.75 million US dollars Series A investment
Taiwan e-commerce platform Citiesocial announced on January 9th that they obtained 2.75 million US dollar Series A investment. The investment was led by Alibaba Taiwan Venture Capital and followed by Cherubic Ventures and CDIB Capital (HK). Citiesocial was established in 2011. Product offerings cover household products, 3C products and fashion accessories. The platform has over 2,000 brands, more than 60,000 SKU and 600,000 users in Taiwan and Hong Kong currently.
Sports & Fitness
- Sports Community Hupu (虎扑) obtained 618 million yuan Series E investment
The sports community Hupu announced on January 12th that they obtained 618-million-yuan Series E investment led by CICC. Previously, Hupu obtained 240-million-yuan Series D investment from Divine Capital and Guirenniao in January 2015. Hupu was established in 2004. Originated from a basketball community, Hupu has expanded business to e-commerce, events and investment funds. The sports equipment e-commerce platform Shihuo.cn has a sales turnover of more than 2 billion yuan in 2017. The basketball event “King of Amateur” created by Hupu has covered 34 cities and achieved a monthly view of over 110 million. The sports fund led by Hupu “The Arena Capital” has invested in Dongqiudi.com, Super Monkey, Kunlun Fight and so on.
- Self-serve office convenient shelf provider Lingwa （领蛙）was acquired by Bianlifeng （便利蜂）
The self-serve office convenient shelf provider Lingwa announced on January 8th that they have obtained strategic investment from Bianlifeng. After the investment, Bianlifeng has completed the acquirement of Lingwa, which will be integrated into Bianlifeng’s self-serve shelf services, and become one of the brands under the group. Lingwa was established in July 2015 and obtained tens of millions of yuan Series A investment from Long Hill Capital in August 2017. Currently Lingwa has over 10000 outlets in Eastern China, serving companies including Didi, Meili Inc, Zhaopin, SF Express, Dahua Tech, Hik Vision and so on.
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