Chinese Startup Gets Over $4 Million to Help KOLs Run Their Business

Beijing-based startup Look, which offers technical and operational support to KOLs like Gogoboi, has just raised 30 million yuan (approximately 4.4 million) in a pre-A round of funding, according to a report published on June 15 by Chinese tech website 36 Kr. Gogoboi’s new WeChat store, "Bu Da Jing Xuan," is one of their products. Look was founded in January 2016 by veterans of prominent tech companies including NetEase, Tencent and Google, according to Look’s official website. Fashion bloggers like Gogoboi and Mr. Bags are expert content producers. They have started to work with luxury brands and e-commerce sites to sell clothes and accessories through their own social media channels. But they lack the resources and experience to manage their businesses. Look offers to step in to help them establish online stores and e-commerce chains. If a Chinese fashion blogger decides to work with Look, she need only provide the content and Look will take care of the rest. They'll create the store, in HTLM5, on her social media platform. They'll help the blogger embed mini apps and add store links in her posts to enable sales directly from her blog. The firm will also provide services before and after sales. Look has also released its own e-commerce store, LookStore, the CEO of Look said, which combines content aggregation and "one-click ordering" and an attempt to get top- and medium-tier fashion KOLs in China to establish their presence on the platform. According to Look, there are currently over 300 online fashion influencers working with them on the store. So far, LookStore has formed business relationships with a variety of global luxury e-commerce sites including Farfetch, Net-A-Porter, Revolve and W Concept. These luxury sites will be responsible for the shipping of products from overseas. Currently, a wide range of luxury brands such as Chanel, Versace, Thom Browne and Chiara Ferragni are available on the app.

Chinese Startup Gets Over $4 Million to Help KOLs Run Their Business

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Published June 16, 2017

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Chinese Startup Gets Over $4 Million to Help KOLs Run Their Business