CHICECREAM:
Chinese Ice Cream Brand CHICECREAM「钟薛高」Completed RMB¥200 Million A Round Financing
In early 2021, the Chinese ice cream brand "Zhong Xuegao" completed an RMB¥200 A round of financing. Genesis Capital led the investment, following by H Capital and Zoo Capital.
CHICECREAM was founded in 2018, starting with a tile-alike design, focusing on zero-added and high-quality products. It has so far launched classic, petite, IP crossover, stores limited and patisserie collections. Products retail at around RMB¥15-20 but yet attracts over 500K fans following the brand. During the first month of the launch back in 2018, the sales exceeded RMB¥6 million. It also claimed the top ranking within the Tmall ice cream category during double 11 for the year. During the pre-sale period, the average daily traffic of the store exceeded one million, with sales exceeded RMB¥4 million.
In 2020, the total sold was 34 million in quantity, and it is still the best selling brand within the category for double 11.
According to data from the China Food Industry Association 2014 survey, China's ice cream market size was only RMB¥70.8 billion. But by 2019, it has increased to RMB¥138 billion, claiming the no.1 market size in the world. Following the new observation, the market is expected to exceed RMB¥1160 billion by the end of 2021.
LINE FRIENDS :
LINE FRIENDS to Close Stores in China, Move Online
Line Friends is shifting to a business model of pop-up stores and online operations in China. By 14th May, only two stores remain open in the mainland, one in southwestern China's Chengdu and one in eastern Nanjing.
The brand will shift its attention to online business and intellectual property based on content.
KNOWIN :
Trend Life Platform "KNOWIN Trend Lab" Completes Series A financing
On 18th May, “KNOWIN Trend Lab”, a one-stop fashion lifestyle platform, announced the completion of a round A financing for nearly RMB¥200 million. The investors are Matrix Partners China, Sky9 Capital and Zhen Fund. It marked the largest financing for Trends Collection stores.
With two fashion "labs" in Shanghai and Chengdu, the main categories of KNOWIN include fashion sneakers, clothing, accessories and toys. The monthly sales revenue of the store exceeds RMB¥10 million. As the original angel investor, BiliBili's anime mechs will also make available in KONWIN. Future crossovers have also been planned ahead.
GUCCI :
The Gucci Garden Experience Lands on Roblox
A virtual Gucci Garden space is opening its doors to everyone on Roblox for two weeks, starting today, 17th May.
Concurrently with the unveiling of the House’s Gucci Garden Archetypes – an immersive multimedia experience in Florence, Italy, that explores and celebrates the house’s inimitable creative vision
As they enter the Gucci Garden experience visitors will shed their avatars becoming a neutral mannequin. Without gender or age, the mannequin symbolizes that we all begin our journeys through life as a blank canvas. Wandering through the different rooms, visitors’ mannequins absorb elements of the exhibition. With every person experiencing the rooms in a different order and retaining different fragments of the spaces, they will emerge at the end of their journey as one-of-a-kind creations, reflecting the idea of individuals as one among many, yet wholly unique.
Roblox is powered by a global community of over 2 million developers who produce their own immersive multiplayer experiences each month using Roblox Studio. Roblox goes public at US$41.9 billion valuations in direct listing March 2021.
MANSUR GAVRIEL :
Launched WeChat Mini Program Boutique and Officially Entered China
Mansur Gavriel, an American niche handbag brand that once became popular with its bucket bags, announced its official launch through WeChat Mini Program Boutique. In addition to classic bucket bags, new series such as pencil bags, cloud bags, and tulip flowers are also available for Chinese customers. Official offline boutique store will open in Beijing SKP by the end of May as part of its China strategy.
For an extended period, Mansur Gavriel did not have an independent operation in China but only sold through partner retailers like Lane Crawford and Galeries Lafayette. The opening of WeChat mini-programs and brand-operated stores marks that the brand has finally moved forward within the market.
For Mansur Gavriel, the Chinese market is far more than just a bucket of gold. It takes the opportunity and challenge within the market as a necessary milestone to fulfil the brand's ambition.
SHEIN:
Overtakes Amazon As The Most Installed Shopping App In US
Shein‘s quiet rise has reached a crescendo as the fast fashion e-commerce app takes the crown from Amazon as the most downloaded shopping app on iOS and Android in the United States, according to data from app tracking firms App Annie and SensorTower.
As of 17th May, Shein was the top iOS shopping app in 54 countries and ranked top in the category on Android devices across 13 countries, according to App Annie. Currently, SHEIN is valued exceeding US$15 billion.
It describes itself as an “international B2C fast fashion e-commerce platform” founded in 2008. Shein controls its own production chain, from design and prototype to procurement to manufacturing. Each step is highly digitized and integrated with another, which allows the company to churn out hundreds of new products tailored to different regions and user tastes at a daily rate.
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