Luxe.Co China Investment Weekly 2017/08/19~08/25

Luxe.Co launched “Luxe.Co China Investment Weekly” in 2016, reporting weekly updates on investment and financing in the China fashion and lifestyle industries. The updates cover fashion, beauty care, food and beverage, sports and fitness, hotel and travel, household products, culture and creativity, and other related fields.

Fashion Brands

• Designer menswear brand incubator MAGMODE obtained 15 million USD Series B2 investment

MAGMODE, the designer menswear brand incubator announced on August 21th that they obtained 15 million US dollar Series B2 investment at the end of June 2017. The investment arrangement was led by Cathay Capital, and followed by Sinovation Ventures. Previously Magmode obtained tens of millions of US dollar Series A investment from Ventech China in November 2016, and obtained 50 million yuan Series B1 investment led by IDG capital in May 2017. Magmode was established in March 2015 by Chongda Cai, who was the former editor-in-chief of lifestyle and news magazines GQ China, Modern Weekly and China News. Magmode provides assistance in finance, supply chain and distribution channels, in order for designers to focus on creativity works. Magmode opened its first concept store at Sanlitun in Beijing in May 2016. Three designers, Masha Ma, Sean Suen, and Jiazheng Xu were signed at the first phase. They have 12 retail stores in China currently.

Fashion Online Platform

• Brass crafts online platform Tongshifu.com (Mr. Brass) obtained 110 million yuan Series A investment

Brass crafts online platform Tongshifu.com announced on August 19th that they obtained 110 million yuan Series A investment. The investment arrangement was led by Shunwei Capital and Mi Ecological Chain, and followed by Jinyuanzhecheng and Jinyuanhanfei. The investment will be mainly used on raw material inventory turnover and production expansion. Tongshifu was established in Hangzhou in 2013, specializing in the design and manufacture of original brass crafts with gold-process, painting, clay sculpture and other techniques. They launched new furniture collections “Brass Woodism” and IP collection “New Monkey King”. They have 175 SKUs online with the average unit price between 700 and 800 yuan. Their sales turnover was 17.08 million, 51 million and 105 million yuan in the past three years, respectively.

• Content online platform Chayu.com (Tea Language) obtained tens of millions of yuan Series A+ investment

The content online platform Chayu.com announced on August 24th that they obtained tens of millions of yuan Series A+ investment. The investment arrangement was led by Toutoushidao Investment Fund and followed by Shishanghongmeng Culture Industry Fund (Shishang Fund). Chayu obtained tens of millions of yuan Series A investment from Phoenix Capital in October 2016. Chayu was established in April 2015. Online contents include tea comments, tea reports and small series of documentaries on tea industry practitioners. The income source is mainly from advertisement, with the annual income of 20 million yuan in 2016. The online platform carries over 3,000 SKUs, including tea and tea appliances, which are mainly third-party brands. The sales turnover is expected to be around 100 million yuan in 2017.

• Designer platform Zigeer.com obtained 10 million yuan angel investment

The designer platform featuring original designer products, Zigeer.com announced on August 23rd that they obtain 10 million yuan angel investment from the investment team of CEIBS. The investment will be mainly used on the distribution channel expansion both online and offline. Zigeer was established in November 2015, aiming to connect designers and end users. Designers open online shops on the platform and are responsible for the product design only. The production and sales sides were handled by the platform. Products includes T-shirts, hoodies, handbags, phone covers, calendars, postcards and so on. They have over 50,000 designers on the platform currently. They opened the first retail store in 798 Art District in Beijing in July 2017.

Food and Beverage

• Bakery brand AKOKO Cookies obtained tens of millions of yuan angel investment

Bakery brand AKOKO Cookies announced on August 25th that they obtained tens of millions of yuan angel investment. The investment arrangement was led by Eagles Fund Beijing and followed by Eagles Fund Hangzhou. The investment will be mainly used on upgrading products and supply chain, branding, and marketing. AKOKO was established in June 2016. Products feature non-preservatives, non-baking-powder and short shelf-life (30 days). In addition to retail stores and official WeChat account sales, AKOKO Cookies distribute mainly through dealers, with around 1000 dealers currently. The sales turnover exceeded 20 million yuan within half a year after products launched.

• Food brand Relashenghuo (Hot & Hot) obtained 140 million yuan Series B investment

Hot & Hot, incubated by the food brand Malayouhuo (Spicy Spirit) announced on August 22nd that they obtained 140 million yuan Series B investment. The investment arrangement was led by Banyan Capital, and followed by Matrix Partners China and original Series A investor N5 Capital. The investment will be mainly used on the expansion of retail stores and the optimization of user data. Hot & Hot was established in 2010. Products feature crayfish, and then extend to braised dishes, cold dishes, cooked food, snacks and beverages. They have around 100 SKUs currently. As of March 2107, Hot & Hot has 11 stores in Beijing and signed another 29 stores. They expect to have a total number of 80 stores by the end of 2017.

Others

•  Smart hardware sharing platform Blue Sky Lab obtained millions of yuan angel investment

The smart hardware sharing platform Blue Sky Lab announced on August 22nd that they obtained millions of yuan angel investment from Eco Fund. The investment will be mainly used on the production and sales of the first personal smart wearable equipment “Blue Sky Atmosphere”. Blue Sky Lab was established in June 2016, aiming to research and produce smart health products in the field of air, water and food through a platform sharing operating model. They will launch the first smart health product “Blue Sky Atmosphere” in Autumn 2017. It is the upgraded version of face masks with the price within 500 yuan.

• Office self-serve snack shelf provider Lingwa obtained tens of millions of yuan Series A investment

The office self-serve snack shelf provider Lingwa announced on August 21st that they obtained tens of millions of yuan Series A investment from Long Hill Capital. They obtained tens of millions of yuan Series Pre-A investment from Zhizhuo Capital in April 2017. The new investment will mainly be used on shelf upgrades and market expansion. Lingwa was established in July 2015. They have more than 2,000 outlets in offices in Hangzhou and Shanghai, including Didi, Mogujie.com, Zhaopin.com, SF express, Hikvision and so on.

Note: 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