The second-hand luxuries trading platform "Shewusumai", meaning to sell luxuries quickly, has completed its angel round of financing, raising nearly 10 million yuan.
The investors include Chihuang Capital and Wang Cong, executive director of Fortune Link.
According to the founder and CEO of the platform, Li Junxiang, this round of funds will be mainly used for the construction of the trading platform and the physical customer experience stores, as well as for the construction of the operations team and the development of user resources.
Founded in 2020 and headquartered in Shanghai, Shewusumai’s business scope covers bags, shoes, apparel, watches, jewelry, and etc. The platform operates with the C2B auction logic, charging users with corresponding service fees, as well as earning money from the different prices of the recycled products.
According to the report of China’s second-hand luxury market, the luxury goods inventory in the past ten years in China is about 4 trillion yuan, and the second-hand luxury market only accounts for 5% of the industry, which means the market for second-hand luxuries is still in its infancy.
Currently, Shewusumai has gathered tens of thousands of luxury goods dealers across the country on the platform, and has attracted hundreds of thousands of users from Dianping, TikTok, Xiaohongshu, WeChat, and etc.