La Miu, the Chinese lingerie brand and e-tailer, has secured its third major funding round, according to co-founder and VP Hao Jianyao. The finer details have not been revealed, and the series C funding will be complete by the end of the month. The financial backing is reportedly well into the tens of millions of dollars.
Last year, La Miu’s series B VC funding was led by DCM and totaled $40 million. Series A backing in 2009 came to $5 million, led by the Japanese triumvirate Rakuten (JSD:4755), Daiwa (TYO:8601), and Lotte; the startup’s seed funding in 2008 came mostly from Japanese sources as well.
LaMiu.com is not just an e-commerce site, as all its underwear – and a new range of casual outdoor wear as well – is designed and manufactured by the company. It’s a model that was taken and run with by China’s Vancl with its own-brand leisure-wear.
We talked to La Miu’s other co-founder, Dong Lu, who’s the CEO, last November, when he told us how he envisaged a sort of luxury shopping experience like Victoria’s Secret in the US – yet more affordable and accessible as well. A move into Japan is being planned for this year.
Just a few days ago, a lingerie-oriented Indian e-commerce startup, Zivame, secured some series A funding, proving that mid- to high-range lady’s underwear e-tailers are of big-time interest to investors right now.
[Source: QQ Tech news – article in Chinese]
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