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, fashion technology and other related fields.
- Entry luxury eyewear multi-brand platform COTERIE raised Series B financing invested by Qianshu Capital
Entry luxury eyewear multi-brand platform Coterie announced on June 29th that they have completed Series B financing. The investor was Qianshu Capital under JD Finance. The detailed amount was not disclosed. Previously, Coterie raised tens of millions of yuan in Series A financing, led by Panda VC Fund and followed by Hemei Group in September 2017. The new financing will be mainly used on wholesale business, brand cultivation and new designer support. Coterie was established in early 2013 with the main business in agent brands (sold in self-owned offline stores) and wholesale brands (sold in China and overseas channels). Also, Coterie launches joint collections with designers and celebrities. Currently Coterie has more than 100 agent brands, including foreign designer brands (Christopher Kane and Karen Walker) and Chinese independent designer brands (JINNNN, Percy Lau and etc.). Coterie has over 30 offline stores in China at present.
Fashion e-Commerce Platform
- Luxury rental platform Xingdong (星洞) raised 60 million yuan in Series Pre-A financing
Luxury rental platform Xingdong announced on June 28th that they have completed Series Pre-A financing of 60 million yuan. The investment was led by Tiantu Capital and followed by Qianghai FOF, previous investor Cyanhill Capital and the celebrity actress Ziyi Zhang. Previously, Xingdong raised 15 million yuan in angel investment in November 2017. The new financing will be mainly used on marketing promotion, SKU expansion and experience store construction. Xingdong was established in September 2017, featuring new product rental services. All products are directly sourced from brands, with about 800 SKUs covering multiple product categories including bags, suitcases, clothing, cameras and so on. Rental services include weekly rental and membership annual unlimited rental services. Weekly rental service requires users to pay a deposit at 50% of the product value. Daily rental fee is 3% of the product price. For annual unlimited rental service, users have unlimited use of products within validity period. At present, Xingdong has more than ten thousand registered users, and thousands of paid users. Xingdong provides services in Beijing and Shanghai currently.
- Fashion subscription e-commerce THE LOOK raised millions of US dollars in Series A financing
The fashion subscription e-commerce THE LOOK announced on June 28th that they have completed Series A financing of millions of US dollars. The investment was led by BAI and followed by SV Tech and Zhen Fund. The financing will be mainly used to expand the market and to strengthen operation and service capabilities. THE LOOK was officially launched in February 2018 with nearly ten thousand registered users. Users provide information on their personal figures and style preferences through the mini-program. Stylists and the algorithm model developed by the company will provide fashion boxes to users with five pieces of clothing inside for users to choose and purchase.
Sports & Fitness
- Smart gym cell WANBA Smart Fitness (玩吧智能健身) raised tens of millions of yuan in Series Pre-A financing
Smart gym cell WANBA Smart Fitness announced on June 29th that they completed Series Pre-A financing of tens of millions of yuan. The investment was led by Tianming Group and followed by multiple angel investors. Wanba Smart Fitness was established in 2017. By cooperating with real estate developers and property management companies, Wanba has launched standard gym cells with 3.5 square meters each. Currently Wanba has set up more than 300 gym cells in 16 cities including Beijing, Shanghai, Shenzhen, Chengdu and Wuhan. The accumulated number of users reached 100 thousand, mainly in residential compounds, business parks and universities. The unit cell daily income is about 90-120 yuan. Main income sources are gym income (0.2 yuan / minute), advertising income and merchandise sales. Sports products include sports drinks, healthy meals and sports equipment with a conversion rate of about 20%.
Hotel & Travel
- B&B chain brand iYOUJIA B&B (有家民宿) raised tens of millions of US
B&B chain brand iYoujia B&B announced on June 26th that they raised tens of millions of US dollar strategic investment invested by Ctrip, Tujia and 58 Industrial Fund. iYoujia is a boutique B&B brand under Mayi Short Term Rental. With a “partnership and trusteeship” business model, property owners (purchased or leased) provide property resources. Investors, who do not have properties, provide capital. iYoujia acts as an agent to help them rent certain properties. Both property sources are managed by iYoujia, who charges a commission of 30% of the rental income.
- Bamboo fiber paper towel brand Wuro (无染) obtained 12 million yuan angel investment
Bamboo fiber paper towel brand Wuro announced on June 27th that they obtained 12 million yuan angel investment, led by Newslon Venture Capital. The financing will be mainly used on product development and distribution channels. Wuro was established in 2017 with bamboo-fiber paper towel as the core product. With bamboo pulp as the raw material, Wuro features non-bleached yellow paper towels. The first “natural bamboo fiber antibacterial paper towel” was crowd-funded in Xiaomi Youpin and raised 2.7 million yuan. Currently Wuro has expanded to over 20 SKUs, and distributed at e-commerce platforms including Xiaomi Youpin, JD, Yitiao, Yunji and so on.
- AR marketing solution provider Mayitegong (蚂蚁特工) raised 8 million yuan in Series Pre-A financing
AR marketing solution provider Mayitegong announced on June 26th that they have completed Series Pre-A financing of 8 million yuan in December 2017. The investment was led by Xindingguorui and followed by Shuimu Capital. The financing will be used on technology R&D. Mayitegong was established in 2016 in Xiamen, providing AR marketing technology and content support for brands. Currently they have provided AR marketing solutions to over 90 large and medium-sized brands, including P&G, Unilever, Coca-Cola and Three Squirrels.
- Pop-up marketing service platform Orange 100 (橙工场) raised tens of millions of yuan in Series A financing
Pop-up marketing service platform Orange 100 announced on June 26th that they completed tens of millions of yuan Series A financing, jointly invested by AC Capital, Hantan Capital and Daocin Capital. The financing will be mainly used to expand site resources and content services at sites. Orange 100 was established in 2016, providing a one-stop solution covering sites, content operation, data support and service provider resources. The platform covers 50,000 venues in more than 3,000 shopping malls and other commercial public spaces in 22 cities currently.
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| Chinese reporter: Jiaqi Wang
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