Rumor: Alibaba Invests in Taobao Apparel Brand 'Inman'

Lieyunwang.com, 2/10/14

According to an industry source, apparel brand Inman has received USD 8-digit first-round funding from venture capital firm IDG and Chinese e-commerce conglomerate Alibaba Group, parent company of C2C e-commerce platform Taobao. Inman began as a clothing store on Taobao, and has since developed its own independent brand name and clothing line. The latest round of funding has valued Inman at approximately USD 100 mln. IDG has invested approximately USD 15-18 mln for an 18% stake in the company, while Alibaba has invested approximately USD 10 mln for a 15% stake. Following completion of the funding, Inman's management team will retain a controlling stake in the company.

Inman founder Fang Jianhua has denied the rumors, while acknowledging that the company has been in contact with potential investors. Alibaba has not commented on the matter.

Keywords: Inman Fang Jianhua apparel e-commerce Taobao Internet funding IDG Alibaba Group first-round

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