iDS BUYBUYBUY, an E-commerce startup in the beauty and healthcare industry that offers global professional beauty brands to Chinese generation Z shoppers, has raised US$40 million in a new series of financing as it continues to beef up its overseas businesses.
The lead investor in the new Series B+ financing is Orchid Asia Group. Lightspeed China Partners, which led the investments in the startup’s Series A financing and SIG (Susquehanna International Group), which led the Series B investments, also participated in the new series financing. Lighthouse Capital served as the exclusive financial advisor for the Series B+ financing. TAHOTA Law Firm acted as the startup’s legal counsel for this new series of financing.
Ms. Hugo Yu, a.k.a YXG, the founder of iDS BUYBUYBUY was the youngest ever Editor-in-Chief in the history of China Fashion Media industry, the first and only 80s who became an EIC of Harper’s BAZAAR China. After 10 years of her service and dedication at Harper’s BAZAAR China, and with many supports from longtime friends like Sylvie Chantechaille, Christophe Robin, ByTerry CEO Marion Assuied among others, she founded her online boutique store in 2017 and it soon became a phenomenon with the combination of Hugo’s influence among high-profile beauty & healthcare consumers and the fast growth and upgrade in China’s consumption demands.
In 2018, iDS BUYBUYBUY attracted millions of customers and was acclaimed by WWD as the Chinese Top One blogger e-commerce enterprise. In 2019, increasing numbers of overseas niche brands like 111skin, MZskin, Temple Spa and Zita West became exclusive business partners of iDS BUYBUYBUY to enter into the Chinese market. This boutique online store is also the earliest one to inspire the Chinese customers with cutting edge skin care concepts such as Neuro therapy, Cell therapy, Epidermologie.
Leveraging on its strict standard for selecting brands & products precisely and its professional services on introducing and demonstrating those products, iDS BUYBUYBUY has become the most trusted high-end ecommerce store among Fashion & Beauty insiders, bloggers and celebrities.
According to a European cosmetics brand which has been closely cooperated with iDS BUYBUYBUY, this boutique online store has already become the first choice of high-end cosmetics brands in Europe for their marketing in Asia. Their choices to team up with iDS BUYBUYBUY are primarily due to Hugo and her team’s international vision in vertical industry trends, professional understanding of specialized product lines and rebranding and repositioning capabilities according to the local market.
Hugo also added that this new series of financing will help iDS BUYBUYBUY continuously develop valuable business relationships in global beauty and healthcare industry, scale up its overseas business development team and participate in the integration and renovation of global supply chain and professional brand resources more thoroughly.
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