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.
- Trendy group YOHO! raised 25 million US dollars in Series E+ funding
Yoho! Group announced on October 12th that they raised 25 million US dollars in Series E+ funding. The lead investor was C Ventures, a fund under Adrian Cheng, the executive director of Chow Tai Fook. Founded in 2005, Yoho! Group started from the magazine “YOHO! Trend” and has established an integrated business model including media, retail and lifestyle. Currently, the media sector includes “YOHO! Trend”, “YOHO! Girl”, and YOHOOD. The retail sector includes “YOHO! Buy (有货)，emerging brand incubator YOHOPE, omni channel YOHO! BLU, and the trendy lifestyle App Mars. In the past two years, YOHO! has actively developed retail stores. In October 2017, the first YOHO! STORE was opened in Nanjing. The first small integrated store was opened in Shanghai this September.
- Express hairdressing brand XINGKEDUO (星客多) raised 100 million yuan in Series B funding
Express hairdressing brand XINGKEDUO ansnounced on October 11th that they raised 100 million yuan in Series B funding, jointly invested by CICC Pucheng (under CICC), Shunwei Capital, Hongdao Capital and FutureCap. Previously, XINGKEDUO raised millions of US dollars in angel funding, invested by Kaifu Lee from Sinovation Ventures, Mingming Huang from FutureCap and Angel Crunch. The brand also raised 30 million yuan in Series A funding invested by Hongdao Capital and tens of millions of yuan in Series A+ funding with Shunwei Capital as the lead investor. The new funding will be mainly used for store expansion, system development and talent pool. Established in January 2015, XINGKEDUO provided 15-minute express hairdressing initially. Since 2017, XINGKEDUO has started focusing more on service quality without the time limit. Currently, the average service time is 22 minutes. The average customer spending is around 50 yuan with options of locations and hairdressers. XINGKEDUO has nearly one hundred stores in Beijing, Shanghai, Chongqing and Hangzhou, with nearly 400 hairdressers.
Culture and entertainment
- IP-related product company Manas Workshop (末那工作室) raised tens of millions of yuan strategic investment
IP-related product company Manas Workshop announced on October 10th that they raised tens of millions of yuan strategic investment from the film and television production company Caitiaowu. The post-investment evaluation has exceeded 100 million yuan. Th funding will be mainly used in animation, film and television related IP product design. Established in 2010, Manas conducts model production, featuring Chinese Buddha and mythology themes. Since 2013, Manas has started collaborating with animation, game, and film and television companies in China and around the world. Currently they have participated in the movie “League of Gods” series, “King of Heroes”, “Big Fish Begonia”, “Mojin the Lost Legend”, “DAHUFA” and so on. Manas also collaborated on Game IP-related products with gaming platforms, such as Tencent Interactive Entertainment, NetEase Game, Sohu Game, SDO Game and Longtu Game.
- Luxury product maintenance service platform Baodashi (包大师) raised 30 million yuan in Series A funding
Luxury product maintenance service platform Baodashi announced on October 12th that they raised 30 million yuan in Series A funding, invested by Qingsong Fund and Buhuo VC. Previously, Baodashi raised 10 million yuan in Series Pre-A funding in 2017, with Haixu Capital as the lead investor. Founded in early 2016, Baodashi is an online service platform for the maintenance, recycling and resales (consignment) of luxury products. Users place orders online and Baodashi provides door-to-door pickup service. Products will be sent to the centralized workshop for maintenance services and then delivered back to users. Baodashi also provides verification, evaluation, recycling and resales services for luxury products with a service charge. Baodashi has an annual GMV of 30 million yuan in 2017. So far, the turnover has exceeded 100 million yuan in 2018.
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| Chinese reporter: Jiaqi Wang
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