CDIB Capital finalizes $25m investment in China's Meilele

Two weeks ago it was revealed CDIB would be committing $19 million to Meilele through a convertible bonds subscription. The commitments will help fund company plans to rollout new showrooms, expand into new product categories and further improve its supply chain management.

"We have been following Meilele's development for well over 2 years and are very impressed with the company's achievements thus far," said Victor Gao, managing director of CDIB Capital in a statement. "We believe the company is well positioned to become the category leader in this vast but fragmented furniture industry in China."  

Established in 2008, Meilele was originally a store within Taobao, China's largest consumer-to-consumer e-commerce site. It currently has over 100 showrooms in the country.

In November, CDIB invested in Smith-Cooper international, a US-based distributor of pipes, valves and fitting. More recently, it committed 19.9 million to Dubai-based travel retail operator Flemingo international.

 

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• Topics
• Greater China
• Consumer
• Expansion
• MENA
• China
• CDIB Capital
• Growth capital
• Outbound investment