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.
- Plus-size womenswear Garden Lis raised ten million yuan in a new round of funding
Plus-size womenswear Garden Lis announced on October 19th that they raised ten million yuan in a new round of funding. Lead investors are Zhen Fund and K2VC, participated by TISIWI. Previously, Garden Lis raised millions of yuan in angel funding this March, with TISIWI as the lead investor. The new funding will be mainly used for product trials and channel building. Established in November 2017, Garden Lis targets plus-sized women aged between 20 and 35 years old with the weight between 65 to 90 kg. Garden Lis launched the first summer collection this April, with weekly new arrivals. Currently, Garden Lis have over 400 SKUs with the price range from 200 to 1200 yuan. Distribution channels include online channels, such as Taobao and WeChat, and 4 retail stores and 217 authorized member stores.
- Uni-sex fashion brand Bosie raised nearly ten million yuan in Series Pre-A funding
Uni-sex fashion brand Bosie announced on October 18th that they raised nearly ten million yuan in Series Pre-A funding. Investor information was no disclosed. Previously Bosie has obtained angel funding from Next Capital, TISIWI and Will Hunting Capital. Founded in January 2018, Bosie features uni-sex fashion products. Menswear and womenswear share the same pattern and cutting. Monthly new arrivals are 60-80 styles. In June 2018, Bosie set up TMall store online with a monthly sales turnover of 3 million yuan.
- Suitcase Brand ITO raised tens of millions of yuan in Series A funding
Featuring original design, Chinese suitcase brand ITO announced that they raised tens of millions of yuan in Series A funding, invested by Meridian Capital. Established in 2007, ITO targets white-collar female consumer groups in first- and second-tiered cities. Currently, ITO has five collections, Classic, Macadamia, and high-end lines, Ginkgo, Almond and Pistachio. The Ginkgo collection was firstly launched in Japan and won Red Dot Award. ITO has a price range from 888 to 4,888 yuan, with the average customer spending of 1,500 yuan. The sales turnover is expected to exceed 100 million yuan in 2018.
Fashion e-Commerce Platform
- Hong Kong e-commerce platform ZStore.com (士多) raised 8 million US dollars in Series B funding
Hong Kong e-commerce platform ZStore.com announced on October 15th that they raised 8 million US dollars in Series B funding. The lead investor was Welight, participated by the real estate developer Guihong Group. Previously, ZStore obtained seed funding from SF Express Group and Series A funding from Guihong Group. The new funding will be mainly used for warehouse and logistics system upgrades, as well as the application of recommendation algorithms. At present, there are more than 1,000 Hong Kong and made-in-Hong-Kong brands on the platform, mainly small brands with limited offline sales channels, and B2B brands which are less well-known to retail customers. The platform has over 10,000 SKUs and over 200,000 registered users.
Food and Dining
- Spicy sauce brand Changjian (长剑) obtained angel funding
Targeting mid- to high-end consumer groups, spicy sauce Changjian announced on October 15th that they obtained angel funding, invested by Capgemini. The detailed amount was not disclosed. The funding will be mainly used for new product development, channel expansion and marketing. Established in 2017, Changjian improved traditional XO sauce, which was popular in Hong Kong and Macau, made with dried scallop and ham. Changjian added abalone and other ingredients and launched the “Abalone and Dried Shellfish XO Seafood Sauce”. The product has been sold online since June 2018 with the price of 58 yuan per bottle (180g).
- Chinese Bento brand Xixiang (熙香) raised 120 million yuan in Series B funding
Chinese Bento brand Xixiang announced on October 15th that they raised 120 million yuan in Series B funding, invested by Silicon Paradise and CICC Capital. Previously, Xixiang raised tens of millions of yuan in angel funding from Newslon VC and 30 million yuan in Series A funding from Jinkong Capital. The new funding will be mainly used for store expansion, automatic kitchen R&D, and standardized supply chain building. Established in 2013, Xi Xiang developed a standardized and automatic cooking system for Chinese food. Each dish has a program. In the cooking process, machines can operate over 80%. Each dish can be completed within 3 to 5 minutes. Currently Xixiang has over 53 stores in Shanghai, Hangzhou and other cities. Each store is around 80 square meters, located near mid- to high-end office buildings. The sales turnover was 192 million yuan in 2017.
Sports and Fitness
- Treadmill brand Xiao Qiao raised 140 million yuan in Series B+ funding
Home treadmill brand Xiao Qiao announced on October 18th that they raised 140 million yuan in Series B+ funding. The lead investor was Harvest Investments, participated by existing shareholders FutureCap and Angel Plus. Previously, Xiao Qiao raised 20 million yuan in Series A funding, invested by Wedo Capital and FutureCap this January. The new funding will be mainly used for technology R&D. Xiao Qiao launched the first product in 2016, targeting young female consumers aged between 25 to 40 years old. The treadmill is priced at 1499 yuan with the weight of 34kg. The product can be folded, with the opening length of 1 meter and width of 0.4 meters. The treadmill can be connected with phones through Bluetooth. Real=time data, such as heart rate and fat burning can be shown on the screen.
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| Chinese reporter: Jiaqi Wang
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