NLVC leads $18m round for China clothing rental site

Matrix Partners China and China Growth Capital also participated in the round.

Operated by Shanghai Qiansong Network Technology, Ms. Paris was launched in 2015. The platform allows customers to rent designer dresses and other clothing at around 10% of the item’s retail price per day. Last March, it also launched monthly subscription services. Members can choose to rent between one and three items as many times as they want, paying RMB380-880 ($55-128).  

The platform now features more than 10,000 items including dresses, handbags and accessories. Ms. Paris is responsible for logistics costs and inventory maintenance such as dry cleaning.

With demand for daily rental expected to increase, the new funding will go towards sourcing different daily wear brands and adding more employees, the company told 36kr.

Since its inception in 2005, NLVC has backed over 180 companies in technology, media and telecom (TMT), healthcare, and advanced technology sectors.

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• Topics
• Greater China
• Consumer
• Early-stage
• Technology
• China
• TMT
• Northern Light Venture Capital
• Matrix Partners
• Venture