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 brand in the e-commerce space, has made waves in the venture capital world. By the end of September this year, the brand successfully closed its first round of financing, securing 20 million yuan from Zhixin Capital in the United States. This marked a significant milestone, as it broke the record for the first funding raised by a netwear children's clothing brand. Recently, Wu Fangfang, CEO of Shanghai Green Box Network Technology Co., Ltd., revealed that the company had completed a second round of fundraising, raising 120 million yuan from DCM.
Just three years after its founding, Green Box has become a hot target for venture capitalists. Established in March 2006, the company initially focused on design, development, production, and sales of children's clothing. It entered the e-commerce market at the end of 2008, and by 2009, its sales surpassed 20 million yuan. The company is now projecting sales to exceed 100 million yuan in 2010. Green Box currently holds the top position as the best-selling children's clothing brand on Taobao.
In November of this year, Green Box officially partnered with DCM, securing $15 million in funding. Wu Fangfang shared that the rapid completion of two rounds of financing within just two months was unexpected. Since then, the company has been flooded with inquiries from domestic and international investors eager to collaborate. She noted that just two years ago, at the end of 2008, she had considered seeking venture capital but was not satisfied with an initial offer of 8 million yuan for a 30% stake, which was eventually negotiated down to 3.5 million yuan. At the time, she declined, saying that the situation back then was far from ideal.
Wu Fangfang expressed that the current influx of investment is a turning point for the company. "The first round was exciting, but by the second round, we became more rational. This one is like the icing on the cake. We don’t just look for money — we want investors who bring resources and management expertise," she said. With increased funding, Green Box aims to strengthen its brand presence and establish itself as a valuable name in the minds of Chinese consumers.
Industry experts believe that Green Box has capitalized on the golden era of e-commerce in China. While traditional brands typically take decades to build a strong identity, e-commerce allows for much faster growth. As more established brands begin to shift their focus to platforms like Taobao Mall, they are drawn by the success stories of companies that have risen rapidly online. Green Box’s journey reflects this new era, proving that with the right strategy and timing, a brand can achieve remarkable success in a short period.