CHINA’S STREETWEAR KING YOHO! GETS $25M FROM C VENTURES
Yoho!, China’s go-to authority for everything streetwear, has received $25 million in Series E+ funding from C Ventures, the youth-focused fund founded by Adrian Cheng and Clive Ng, WWD has learned.
Through this partnership, Yoho!’s already influential media and retail domain is set to grow its off-line footprint, tapping into K11’s strengths in retail, office and hotels across Greater China.
“We are very excited about the growth potential of Yoho! as it continues to open more avenues to capture the important Chinese Millennial and Gen Z audiences,” said Clive Ng, cofounder of C Ventures. “We are at an interesting crossroads where online-first companies like Yoho! are going off-line to expand their business, differentiating themselves. So even more interesting is the possibility of online and off-line collaborations Adrian Cheng’s K11 can open up for Yoho! in the future.”
Yoho! has been making quick strides in physical retail. In October 2017, it opened its first brick-and-mortar shop in Nanjing, a 53,000-square-foot space, equipped with cutting-edge technologies such as RFID shelving and smart fitting rooms. It followed that up with its second boutique in Shanghai last month, on top of hosting a pop-up at the K11 Mall in Shanghai. Running until Oct. 14, the space features merchandise from 26 Chinese and international streetwear brands.
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