Home / Knowledge / News / E-commerce / China's Club Factory raises $100 mn for India expansion

China's Club Factory raises $100 mn for India expansion

18
Oct '19
Pic: Club Factory
Pic: Club Factory
Chinese e-commerce platform Club Factory, which sells fashion and beauty items and electronics accessories, recently raised $100 million in a round of financing with plans to expand its footprint in India. The fresh round—Series D—was led by Qiming Venture Partners, Bertelsmann, IDG Capital and other US and Asian Fortune 500 companies, the company said.

The Hangzhou-headquartered company raised $100 million in its previous financing round early last year and has raised about $220 million till now.

Out of more than 70 million users on its platform, about 40 million are from India. The five-year-old start-up cited figures from app analytics firm App Annie to claim that it is now the third-largest e-commerce platform in India, surpassing Snapdeal.

The number of sellers on its platform in India has grown by ten times in the last six months, the company claimed. With about 5,000 sellers in India, Club Factory plans to double the figure by the year-end.

“At the same time, we have also pioneered to strengthen the ‘store-within-platform’ concept in India’s e-commerce industry, allowing direct contact between buyers and sellers through our application,” said Vincent Lou, co-founder and chief executive of Club Factory, in a statement.

Fibre2Fashion News Desk (DS)


Interviews View All

Amit Jain, Shingora Textiles Ltd

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Top executives, Textile industry

Top executives
Textile industry

Denimsandjeans India 2018

Teresa Neal,

Teresa Neal

Teresa Neal, an art professional with 25 years of experience, in...

Devendra Gupta,

Devendra Gupta

Reforce, a start-up based in Gurgaon, aims to revolutionise the fitness...

Christiane Thies,

Christiane Thies

Founded in 1892, Thies has concentrated on the fabrication of high-quality ...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Prof Seokheun (Sean) Choi, Binghamton University, State University of New York (SUNY)

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search