Streetwear Empire YOHO! Raises Tens of Millions of US Dollars from C Ventures in E+ Financing

Deep partnership with K11, to deploy omni-channel online and offline retailing strategy
2018-10-12 10:00 1052

SHANGHAI, Oct. 12, 2018 /PRNewswire/ -- YOHO! Group ("the Group"), China's foremost steetwear empire, recently announced that it has raised tens of millions of US dollars in its E+ round financing, to accelerate deploying the Group's online and offline omni-channel strategy. This financing is led by C Ventures with Pioneer Capital as the exclusive financial advisor. Previously, YOHO! has secured funding from CDH Investments, Vertex Ventures China, SAIF, China Media Capital, Fortune Capital, Shanghai Zhichen Asset Management Co. Ltd, Telescope Investment, etc.

YOHO! is regarded as one of the most influential streetwear platforms in China. Relying on its unique capability of content creation and communication, and its integrated business model combing media matrix, retailing and lifestyle business, the Group has accumulated rich upstream resources to build an omni-channel business ecosystem across various fields to meet the needs of China's hundreds of millions of young consumers.

Founded in 2005, YOHO! has been instrumental in cultivating China's streetwear culture, catering to China's booming youth market. The group's comprehensive ecosystem includes media platforms "YOHO!BOY" and "YOHO!GIRL", annual brand flagship event YOHOOD, e-commerce platform YOHO!BUY, multiple offline experiential retail locations YOHO!STORE and YOHO!BLU, streetwear brand incubator YOHOPE, a urban lifestyle app mars and street art program YO!GALLERY. The growth and expansion of YOHO! reflects China's burgeoning steetwear culture, and the Group itself also made significant contributions to support and promote this culture.

Following its successful online presence in e-commerce business, YOHO! has started to expand its retail strategy into offline scenarios. In October 2017, YOHO! opened its first streetwear flagship shop YOHO!STORE in Nanjing after three years of preparation. Covering an area of 5,000 square metres, YOHO! STORE has introduced more than a hundred fashion brands to Nanjing and implemented new technologies as part of the shopping experience, including RFID-powered shelves, smart fitting rooms and WeChat mini programs. In this September, the Group opened another offline boutique select store YOHO!BLU in Shanghai. Frequent streetwear pop-up events partnering with commercial properties are also organized as part of YOHO!'s strategic omni-channel approach.

C Ventures made this investment as it has spotted the significant influence of YOHO! in the streetwear industry, and the Group's rich resources and brand value accumulated over a decade. YOHO! will also enter into deep partnership with K11, a global multi-faceted high-end lifestyle brand operator under New World Group, named as one of the 2018 Top 10 Most Innovative Companies in China by US financial magazine Fast Company. While C Ventures is the investment vehicle for next-generation lifestyle platforms, K11 is the platform for these portfolio companies to reach the audiences in China. Through this strategic partnership, YOHO! will be able to tap into K11's deep offline resources in retail, Grade A office buildings, serviced apartments and hotels across Greater China, as well as its fan base, creating possibilities for future expansion in K11's premium commercial locations.

Source: YOHO!