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.
Fashion e-Commerce Platform
- SECOO (寺库) obtained 175 million US dollar strategic investment from L Catterton Asia and JD
The high-end lifestyle platform Secoo announced officially on July 9th that they have reached strategic cooperation agreement with the Asia division of L Catterton, the world’s largest consumer goods private equity investment company, and JD, China’s largest retailer. Under this agreement, Secoo will obtain 175 million US dollar investment. Secoo is the world’s leading luxury online retailer. Through online and offline platforms (Secoo.com, Mobile APP and offline experience centers), Secoo provides genuine high-end products and lifestyle services in multiple product categories. At present, Secoo has over 300,000 items, covering more than 3,000 international and Chinese well-known brands.
Food & Dining
- Coffee retail brand Luckin Coffee raised 200 million US dollars in Series A financing
Luckin Coffee announced on July 11th that they raised 200 million US dollars in Series A financing invested jointly by Dazheng Capital, Joy Capital, Singapore Government Investment Company (GIC) and Legend Capital. After the financing, Luckin Coffee’s evaluation reaches 1 billion US dollars. Luckin Coffee had soft opening since early 2018. With a combination of self-service, stores, and takeaway models, consumers can order from APP, take-away or pickup at stores. Coffee products include American Coffee, Latte and Australian White Coffee and so on, which are made with Swiss-imported coffee machines and Arabica coffee beans. As of the end of May 2018, Luckin Coffee has opened 525 stores in 13 cities in China, including Beijing, Shanghai, Shenzhen and Guangzhou.
- Catering brand Wang Lala & Wang Lala (王辣辣) sour and spicy noodle raised 10 million yuan in Series Pre-A financing
Catering brand Wang Lala & Wang Lala sour and spicy noodle announced on July 11th that they raised 10 million yuan in Series Pre-A financing invested jointly by Challengers Capital and Ants Capital. The financing will be mainly used on store expansion, online and offline supply chain optimization and brand marketing. Wang Lala & Wang Lala was established in 2014. The Thailand store was opened in 2015 and the store in China was opened in 2016. Online e-commerce was launched in 2017, mainly in WeChat Communities. Currently two overseas stores are in tourist beach sites in Phuket and Patong. The average daily customer number is around 300 with the customer unit price of 35 yuan. At present, Wang Lala & Wang Lala has 3 stores in Beijing with the average customer number of 700 and the customer unit price of 30 yuan.
Sports & Fitness
- Sports technology company KEEP raised 127 million US dollars in Series D financing
Sports technology company KEEP announced on July 10th that they raised 127 million US dollars in Series D financing. The investment was led by Goldman Sachs and followed by previous shareholders, Tencent, GGV Capital, Morningside Capital and Bertelsmann Asia Investment Fund. The financing will be mainly used on AI product R&D, new business line incubation and fitness content strengthening. KEEP was founded in 2014, entering the fitness market with a free fitness class APP catering for amateur fitness users. In March 2018, KEEP launched KeepKit hardware (treadmills) for home scenarios and Keepland Gym (for city scenarios), to build a sports technology platform featuring content. Currently KEEP has 140 million users.
- IP-related offline retail brand IPSTAR (潮玩星球) raised 30 million yuan in Series Pre-A financing
The IP-related offline retail brand IPStar under AIMON announced on July 13th that they raised 30 million yuan in Series Pre-A financing. The evaluation reaches nearly 200 million yuan after the investment led by Mihayo. AIMON is a genuine IP related service provider, offering solutions including IP agent, related product development, design and marketing in the commercialization of IP related products. Currently AIMON is agent for nearly 300 IPs. The first IPStar store was opened in Shanghai at the end of 2017. Currently IPStar has five stores in Shanghai and two stores in Beijing with the size of 80 square meters each and 300 SKUs per store. Consumers can purchase many popular IP related products under AIMON.
- Household product brand InYard (宜氧) raised tens of millions of yuan in Series Pre-A financing
Household product brand InYard announced on July 9th that they raised tens of millions of yuan in Series Pre-A financing. The investment was led by Yuanxingzhiyin Venture Capital and followed by Ruchuan Capital and previous angel investors NeXt Capital and K2VC. Previously, InYard completed angel financing at the end of 2017. InYard went online officially in May 2016. Different from the minimalism styles from Northern Europe and Japan, InYard features “bright colors”. The first store was opened in early 2018 with a size of 68 square meters covering foyer, living room, dining room, bedroom and other basic home living space.
- New retail service provider Marsoooo (火星盒子) raised tens of millions of yuan in Series A+ financing
New retail service provider Marsoooo announced on July 9th that they completed Series A+ financing of tens of millions of yuan, invested jointly by the Alpha Startups, AdMaster and Cathay Integrity Holding. Previously, Marsoooo raised tens of millions of yuan in Series A financing led by GSR Ventures and followed by Matrix Partners at the end of 2017. Marsoooo upgrades traditional supermarkets and convenience stores with code-scanning payment and self-serviced cashier services. Currently there are two products, Mars Rabbit for the customer side, and Mars Hui for the business side. Mars Rabbit is a code-scanning purchase APP based on LBS. Stores can realize self-served cashier without reconstruction costs. Mars Hui can help brands obtain consumer data and provide marketing recommendation. Currently, Marsoooo has signed with over 30,000 chained supermarkets, including Century Mart, Lawson, and Suguo.
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| Chinese reporter: Jiaqi Wang
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