Ushopal, a Shangai, China-based new luxury beauty and new retail group, completed a USD100m financing.
The round was led by FountainVest Partners, with participation from Cathay Capital, Zhongyuan Capital, Hengxu Capital and Dazhong Zhongsong Fund.
The company intends to use the funds for continued growth in China and Asia Pacific.
Founded in 2017 by Lu Guo, CEO, Ushopal focuses on niche, global luxury beauty brands. Its portfolio mainly covers brands exclusively sold at high-end retail outlets such as Harrods from the UK, Le Bon Marché from France, Neiman Marcus from the US, etc. With gross merchandise value (GMV) in 2020 surpassing 200m USD, the company’s portfolio of luxury niche brands inc lude major new luxury beauty players in China, such as Natura Bisse, Juliette Has a Gun, Chantecaille, and more.
Ushopal offers omni-branding and growth capabilities for portfolio brands with a fleet of more than 2,500 luxury influencers, an in-house content studio, branding team, an omni-channel growth team, Tmall retail operations, global logistics and Bonnie & Clyde (BC) – a chain of multi-brand brick-and-mortar brand stores and experience centers.