The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Multibrand streetwear retailer, Knowin, which stocks brands such as Off-White and We11done Be@rbrick at its two stores in Shanghai and Chengdu, has raised nearly 200 million yuan ($31.07 million) in series A financing led by Matrix Partners, Sky 9 Capital and Zhen Fund, according to Chinese business media outlet, Brandstar.
Knowin, which refers to its stores as “street style labs”, targets young Chinese consumers and sells products from sneakers to clothing, accessories and toys. Each of its stores boasts sales revenue of more than 10 million yuan ($1.55 million) per month.
Bilibili, a Chinese video platform beloved by young users, has previously invested in the retailer, and Bilibili-affiliated merchandise is also stocked in Knowin stores. The two say they will deepen their offline cooperation in the future.
In the key China market, sports stars are an increasingly popular choice for luxury brands aiming to broaden their appeal while limiting their exposure to scandal-prone entertainers.
Alibaba’s shopping holiday has lost some of its oomph, but remains a potent force for many brands. That, plus what else to watch for in the coming week.
At the latest edition of China’s top fashion week, brands adapted their designs for a more value-minded shopper as retail buyers prepared for a softer local market.
As the country’s economy moves into deflationary territory, manufacturing output declines and a real estate crisis worsens, some consumers are becoming increasingly cautious.