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Streetwear Yoho! receives funding from C Ventures

Oct '18
Streetwear Yoho! receives funding from C Ventures
Yoho! Group has announced that it has raised tens of millions of dollars in its E+ round financing, to accelerate deploying the group's online and offline omni-channel strategy. This financing is led by C Ventures with Pioneer Capital as the exclusive financial advisor. YOHO! is regarded as one of the most influential streetwear platforms in China.

Relying on its unique capability of content creation and communication, and its integrated business model combing media matrix, retailing and lifestyle business, the group has accumulated rich upstream resources to build an omni-channel business ecosystem across various fields to meet the needs of China's hundreds of millions of young consumers, Yoho said in a press release.

Previously, Yoho! has secured funding from CDH Investments, Vertex Ventures China, SAIF, China Media Capital, Fortune Capital, Shanghai Zhichen Asset Management Co. Ltd, Telescope Investment, etc.

Following its successful online presence in e-commerce business, Yoho! has started to expand its retail strategy into offline scenarios. In October 2017, Yoho! opened its first streetwear flagship shop Yoho!Store in Nanjing after three years of preparation. Covering an area of 5,000 square metres, Yoho!Store has introduced more than a hundred fashion brands to Nanjing and implemented new technologies as part of the shopping experience, including RFID-powered shelves, smart fitting rooms and WeChat mini programmes. In this September, the group opened another offline boutique select store Yoho!Blu in Shanghai. Frequent streetwear pop-up events partnering with commercial properties are also organised as part of Yoho!'s strategic omni-channel approach., the release added.

C Ventures made this investment as it has spotted the significant influence of Yoho! in the streetwear industry, and the group's rich resources and brand value accumulated over a decade. Yoho! will also enter into deep partnership with K11, a global multi-faceted high-end lifestyle brand operator. While C Ventures is the investment vehicle for next-generation lifestyle platforms, K11 is the platform for these portfolio companies to reach the audiences in China. (RR)

Fibre2Fashion News Desk – India

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