Following SHEIN's footsteps, Cider completes tens of millions of dollars in Series A financing

On June 8, according to Tianyancha, D2C cross-border e-commerce platform Cider received tens of millions of dollars in Series A financing , with investors including Russian investment group DST , American Andreessen Horowitz and IDG Ventures.

It is reported that the e-commerce platform Cider was established in 2020 and is affiliated to Beijing Lizhi and Mango Technology Co. , Ltd. Its founder is Wang Chen, who was the co-founder of the fashion rental company "Yiersan". This is also an overseas D2C e-commerce project he founded alone after leaving his job, so he has excellent work experience in the fashion industry.

In addition, Cider's ability to obtain financing again is also closely related to the recent explosion of cross-border e-commerce in the clothing industry. Some time ago, according to foreign media Tech Crunch, the independent brand SHEIN surpassed Amazon to become the most popular shopping app in the United States, and it was also selected as the 2021 BrandZ™ Top 50 Chinese Global Brands with a ranking of 11th, which made many capitalists see the money-making ability of Chinese brands.

At present, SHEIN's latest round of financing valuation has exceeded 300 billion yuan. Every independent website merchant wants to become the next SHEIN. The new D2C brand Cider is no exception. It has received three rounds of financing in less than two years since its establishment.

Like SHEIN , the overseas DTC brand Cider also targets women, especially Generation Z women, and focuses on fast fashion. The prices generally do not exceed US$50, so it has accumulated a large number of fans.

According to statistics, Cider has accumulated nearly 2 million fans on global social media and users from more than 100 countries, and the number of fans on Instagram alone is close to 1 million. On the official website, consumers can also choose corresponding clothing according to their mood. In addition, Cider has built a user UGC community around clothing and hot topics, which is deeply loved by female consumers.

Moreover, Cider adopts a real-time retail model, using Internet trend searches to accurately obtain user preferences and maximize the compression of production time. Merchants can quickly adjust production based on user feedback to increase the probability of a hit product.

In short, the success of both Cider and SHEIN is not groundless. At present, China's clothing industry chain is extremely developed , and there are a large number of people engaged in the e-commerce industry, while the foreign e-commerce market is not yet developed enough. Short videos and live broadcasts have also broadened global marketing channels , all of which have contributed to the vigorous development of D2C overseas e-commerce .

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