Eyeglasses Retailer Coterie Wins RMB 100 Mln Series C from ChinaEquity Group
36Kr.com, 9/17/18
Shanghai-based eyeglasses retailer Youtong Trading (Coterie) recently announced completion of RMB 100 mln in Series C funding from ChinaEquity Group (833858.NEEQ). Funds will be used to support wholesale business expansion, accelerate online e-commerce platform development, and expand into the fashion accessories products domain.
Liang Shusi, founder at Coterie, said that the company's core users are young, approximately 25-year-old women. The company has already signed contracts with more than 20 well-known Chinese and foreign brands.
Coterie currently operates nearly 40 boutique eyewear outlets in top-tier shopping centers in 17 cities including Shanghai and Beijing. It serves as an agent for nearly one hundred brands and total sales are expected to reach more than RMB 100 mln in 2018.
Editor's Note: Coterie specializes in operating offline affordable luxury eyewear product retail stores and carries nearly 100 leading international eyewear brands. For more information on this topic, please see JD Finance's Qianshu Capital Invests in Eyeglasses Retailer Coterie, MD 6/29/18 issue.
Keywords: Youtong Trading Liang Shusi VC e-commerce Internet funding Series C ChinaEquity Group 833858.NEEQ Coterie
Sending
