Green box children's clothing to create venture miracles 2 months financing 120 million
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"Green Box," a leading children's clothing e-commerce brand, made headlines this year by securing its first round of financing in September. The company received an investment of 20 million yuan from Zhixin Capital in the United States, marking a significant milestone as it broke the record for being the first netwear children's clothing brand to raise capital. Recently, Wu Fangfang, President of Shanghai Green Box Network Technology Co., Ltd., revealed that the company had successfully completed a second round of funding, securing a massive 120 million yuan from DCM.
Just three years after its founding, Green Box has become a hot favorite among venture capitalists, drawing attention from industry players and investors alike. Established in March 2006, the company integrates design, development, production, and sales in the children's apparel sector. It entered the e-commerce space at the end of 2008, and by 2009, its sales exceeded 20 million yuan. For 2010, the company expects sales to surpass 100 million yuan. Today, "Green Box" is the top-selling children's clothing brand on Taobao.
Recently, the brand has become a prime target for venture capital firms, with some even offering to invest in the third round. In November, Green Box officially partnered with DCM, securing $15 million in funding. Wu Fangfang told reporters that the rapid completion of two rounds of financing within just two months was unexpected, and since then, the company’s phone has been constantly ringing with domestic and international funds knocking on the door, eager to discuss potential collaborations.
Wu Fangfang shared that two years ago, at the end of 2008, she had considered raising capital but had initially asked for 8 million yuan for a 30% stake. However, the offer was negotiated down to 3.5 million yuan, which she ultimately rejected. She admitted that those were tough times, and today’s situation could hardly be compared to the past.
Regarding the recent influx of capital, Wu said, “The first round of financing was exciting, but by the time we reached the second round, we became more rational. This one is like the icing on the cake. We don’t just look for money; we seek investors who bring resources and management experience.†With the new funding, the company plans to further strengthen its brand presence and position "Green Box" as a valuable household name in China.
Industry experts believe that Green Box seized the perfect moment in China's e-commerce boom. Traditionally, building a brand takes years or even decades, but in the e-commerce era, it can be done in just a few years. More and more traditional brands are now setting up shop on Taobao Mall, drawn by the success stories of overnight e-commerce legends like Amoy.