ICY Design raises tens of millions of yuan in Series B round

The independent designer apparel e-commerce platform ICY Design has recently completed its Series B financing round,raising tens of millions of yuan. This round is led by Hong Kong-based Fashion Investment Group, with participation from Fosun RZ Capital.

The independent designer apparel e-commerce platform ICY Design has recently completed its Series B financing round, raising tens of millions of yuan. This round is led by Hong Kong-based Fashion Investment Group, with participation from Fosun RZ Capital.

According to Gu Yingying, the founder of ICY Design, the proceeds will be used for the ecological construction of the ICY brand, optimization of supply chain and upgrading of the blogger system.

ICY was founded in January 2017, and received nearly 100 million yuan in Series A financing round in 2018. It was led by Fosun RZ Capital and joined by a fund of 36Kr Media.

ICY strives to distinguish itself from traditional designer platforms. It is not just a simple link between products and customers, but is positioned as a designer publisher, who bears the cost of production for designers, builds supply chain, sales channels and marketing systems, empowering independent designer brands.

ICY has currently signed about 400 independent designers, and this year it plans to deeply incubate 100 designers and help them establish independent brands.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/04/26/icy-design-raises-tens-of-millions-of-yuan-in-series-b-round/.

Leave a Reply

Please Login to Comment