Luxe.Co China Investment Weekly 2017/09/09~09/15

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 Online Platform

• Second-hand luxury goods sharing platform BGBAOBAO.cn obtained nearly ten million yuan seed capital

The second-hand luxury goods sharing platform BGBAOBAO.cn announced on September 15th that they obtained nearly ten million yuan of seed capital in July 2017. Investors were angel investors Bin Wu, Yangshi Cheng and Daosheng Investment and so on. The platform provides second-hand bag purchase, rental and leasing services. Registered users can rent handbags for a period from 7 to 15 days, with a daily rental fee of 1.5-3‰ of the retail price. The current second-hand bags on the platform are sourced from platform purchase or customer consignment. The platform charges a commission from the consignment profit.

Food and Beverage

• Donkey meat pastry brand DonHot obtained ten million yuan angel investment

Donkey meat pastry brand DonHot announced on September 16th that they obtained ten million yuan angel investment. The investors were not disclosed. The investment will be mainly used on brand promotion, retail store expansion and cross-over collaboration with cultural and entertainment industry parties. DonHot was established at the end of 2016, featuring donkey meat pastries as core products, and supplemented by other donkey meat food and snacks. DonHot has 27 SKUs currently. With 2 retail stores in Beijing, DonHot has signed another 5 stores opening by the end of 2017.

Hotel and Travel 

• Travel Club YUELVHUI.com obtained tens of millions of yuan angel investment

 The travel club targeting middle class customers, YUELVHUI.com announced on September 15th that they obtained tens of millions of yuan angel investment from AXP Fund and Guyin Fund. The investment will be mainly used on product R&D and team expansion. YUELVHUI went live online in June 2017. Users purchase membership cards at different tiers, including Elite Card at 299 yuan, Gold Card at 3998 yuan and Leader Card at 4998 yuan with different privileges, respectively. After joining the club, members have the chance to stay for free at four-or-five-star hotels. From time to time, the platform also releases travel experience and route products, led by travel experts and KOLs.  

Culture & Creativity

• Numerology consulting APP ZhanXin (SoulReader) obtained ten million yuan Series A investment

Numerology consulting platform ZhanXin (SoulReader) announced on September 11th that they obtained ten million yuan Series A investment led by Liangyin Capital. Previously, ZhanXin obtained millions of yuan angel investment in May 2016. The new investment will be mainly used on expanding platform consultants and market promotion. The platform brings together skilled consultants in the fields of Western tarot, astrolabe, i Ching, the four pillars of destiny, and palmistry and so on. The platform provides one-to-one paid consultancy and Q&A services, with a price from 50 to 200 yuan. The platform has over 10,000 consultants online currently, with a turnover of over ten million yuan from January 2017.

 Others

• Convenient store Xiaomai obtained 120 million yuan Series A+ investment

The movable and easy-to-assembly convenient store, Xiaomai announced on September 9th that they obtained 120 million yuan Series A+ investment from Junzi Capital. Previously, Xiaomai obtained 125 million yuan Series A investment from APlus Cap and Chenshan Capital in July 2017. Xiaomai opens shops mainly in residential compounds, with a size of 20 to 30 square meters each. Each shop has 600 to 800 SKUs, including standard products, fresh food, coffee machines, steaming machines and freezer and so on. A complete customer shopping experience includes four steps. Customers register memberships, then enter the shop with face detection or code scan. After they use WeChat to scan code and purchase, they can pay and leave the shop.

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

| Editor: Claire