Super In Won 10 Million Yuan Of Prea Round Financing

According to the World Clothing, Shoes and Hats Network, Europe entry lux Super in Jianshe, an authorized agent of the brand cluster and a supply chain service provider, has completed 10 million yuan of PreA round financing, led by Xianfeng Evergreen and followed by the blue cursor. Super in Jianshe once received angel round financing of 10 million yuan in 2015.

Super in Luxury mainly sells luxury brands that are well known in Europe but have not formed a sales system in China. The brand they choose has three characteristics: first, it has a history of 10-300 years and good brand The story has a certain popularity in China, such as Aspinal, a brand often used by the British royal family of London， Because Kate is known by Chinese people; Secondly, the annual sales in Europe are between 10 million euros and 200 million euros; In addition, the unit price is between 1000-5000 yuan.

Cui Qi, the founder, said that the reason why he aimed at the domestic opportunities of such international brands was to find the needs of both the domestic market and brand owners:

From the perspective of the domestic market, there are 100 million to 200 million consumers of luxury goods in China. These people have diversified and personalized understanding of the brand and are no longer keen to pay for the big brand logo, but there is a gap in high-quality brands. Although there is some independence in China designer Brand, but it takes time to develop. Comparatively speaking, international luxury brands that have accumulated enough are more likely to achieve commercial success if they can enter the domestic market. From the perspective of the brand side, the Chinese market is very attractive, but they lack the resources and channels to enter China, and also need to assess the risk of failure after entering. Therefore, they need a strategic partner who has a good understanding of European fashion brands and the Chinese market.

Based on the above considerations, the Super in simple and luxurious business model can be divided into three stages: first, select a group of brands to act as agents, and distribute in the self operated App, Tmall, JD, Charm Fair and other channels; Second, according to the online channel feedback (the selling out rate reached 70% within three months), select the brands with development potential in China, negotiate with the brand side to establish a joint venture, bundle into the Chinese market, and monopolize sales in China; Third, in the long run, when the joint venture develops to a certain scale, it will go to Europe to purchase the original brand.

Taken together, the ultimate goal of Super in luxury is to become a luxury LVMH.

At present, Super in Jianshe has cooperated with 21 brands, including Monica Vinader, Amanda Wakeley,Oliver Sweeney, etc., are still in the first stage of cooperation, that is, online distribution in the form of agent or exclusive agent. Super in Jianshe has signed a 3-6 month trial sales contract with the brand dealer. When the company believes that the goods are unsalable, it can terminate the contract within three months; If the trial sale period is exceeded, the brand is required to implement flexible supply to reduce the risk of goods shortage.

Among the 21 brands, one brand has reached the second stage - the establishment of a joint venture has been negotiated. This brand is Cambridge from the UK Satchel (Cambridge bag) is famous for the British college style bag design. According to the agreement between the two parties, Super in will help it establish a Tmall store and an offline physical store in China, and then further expand according to the development situation.

To get through this whole model, we need strong team experience. First of all, from the source, we should have the ability to negotiate cooperation with the brand side. After that, we should also have the ability to operate the brand. Cui Qi believes that his experience and background are the core to gain brand trust. She graduated from the University of Cambridge, England with an MBA. She used to work in the Bank of England, Goldman Sachs London M&A Department (luxury industry), Ernst&Young London Branch M&A Consulting Department. Eight years of experience in luxury M&A enabled her to promote cooperation with brands more smoothly. She gave an example of how it took only six months to initially cooperate with Cambridge Package, judge the domestic market, and establish a joint venture.

However, when establishing a joint venture with a brand, how to judge whether the brand will succeed? Is the 3-6 month trial sale enough? In response to this, Super in said that it is really difficult to identify the brand, but first of all, the brand they chose has already had some recognition in China; Secondly, they will also use Tmall, Siku OFASHION、 Fifth Avenue and other channels to improve brand awareness; Thirdly, there are many high-quality brands in Europe, and the profit of luxury goods is also high. As long as there are several brands like MK, Kate Spade opens the market like that (annual sales of about 1 billion yuan), and the whole company is successful.

At present, the self owned App of Super in Simple and Luxury has not been promoted. There are 2000 paying users, and the monthly sales since it was launched in September is 300000 yuan; The channel revenue of Super in Jianshe in 2016 was about 4 million yuan.

In terms of team background, in addition to the founder Cui Qi introduced earlier, they also have a brand relationship manager with 10 years of experience in buying in the UK. Other Chinese members of the team are from Tencent, Baidu, Sina, Tianyu and other Internet media companies.

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