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PE-backed La Chapelle invests in China e-commerce platform

  • Andrew Woodman
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PE-backed ladies apparel manufacturer Shanghai La Chapelle has invested RMB200 million ($32 million) in Hangzhou Anshe E-Commerce, the business behind Chinese online fashion retailer QiGeGe, in exchange for a 54% stake.

Set up in 2001, La Chapelle designs, markets and sells clothes through retail stores. According to a release, the company's nationwide network comprises 5,671 retail points in 1,900 physical locations - including department stores and shopping malls - across 31 provinces and municipalities in mainland China. The company claims to account for around 5.7% of the overall clothing sales in China 2013, making it the third-largest player globally

La Chapelle - which raised HK$2.21 billion in its IPO last September - received a HK$122 million investment from OrchidAsia in October in exchange for a 6.35% stake. Its other investors include: Legend Capital, which holds 17.81% of the firm; Goldman Sachs, whichs owns a 3.75% interest; Boxin Capital, which has a further 8.83%; and Asia Alternatives, which holds 0.83%.

Legend Capital is also an investor in Hangzhou Anshe alongside Matrix Partners. The start-up was set up in 2009 and sells a wide range of fashionable apparel products including apparel, women's shoes and accessories under the brand names of QiGeGe, Othermix and Othercrazy.

 

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