Jun 6, 2013

Writer: admin Source: 未知 On 24th, May, 2012, Mbaobao announced that it had raised over US$ 30 million for its Series-D financing, China Renaissance acted as the exclusive financial advisor. Founded in September 2007, Mbaobao is the largest brand vendor and retailer for fashionable bags and suitcases. Got an angle investment from Italy VISCONTI, it has more than 15 self-owned brands and 12 authorized brands, covering different styles of products and age groups of consumers. Investors for this round financing commented: Enjoying the unique business model that combines product supply and sales channel, Mbaobao is able to meet the needs of different type of consumers at the fastest speed, which has made Mbaobao the "fast fashion" brand in the bags and suitcases industry. Mbaobao is expected to be the leader of the Chinese bags and suitcases fashion trend thanks to the management team which have seasoned experience in both bags and e-commerce. Mbaobao has been invested by DCM, Legend Capital and TBP since 2010. Haifeng Ye, the founder of Mbaobao said: “We set breakeven as our core objective and will take the strategy of benign operation after this round of financing. We can find that some of Chinese e-commerce companies are changing from impetuous to pragmatic. We will wait and see whether we can survive and be outstanding.” As the exclusive financial advisor, Michael Du, Managing Director of China Renaissance commented, “After four years development, Mbaobao has successfully become China’s largest e-commerce platform for bags and suitcases. China Renaissance is honored to participate in this round of financing. We hope to build long-term strategic relationship with Mbaobao. Depending on cooperation with visionary investors, special brand advantages and pragmatic spirits, we believe that Mbaobao will become a sector leader in the industry.”