Yinmi Glasses completed a $7 million Series A financing that has been fully received

Yinmi Glasses completed a $7 million Series A financing that has been fully received

June 16, 2015

inMIX, a glasses brand with large online sales in China, spoke to the media for the first time

Announced a $7 million Series A funding round a few months ago, co-invested by IDG Capital and Legend Capital,

The investment funds have been fully received recently.

Yinmi Glasses was founded at the end of 2010 by Li Ming, a post-85s best-selling author, and Wang Sheng, a designer.

According to the founder Li Ming, its online sales are currently the first in the glasses industry.

Last year's Singles' Day alone, the single-day sales volume was equivalent to the total sales of 5,000 offline optical stores.

While maintaining the number one sales volume, the growth rate of Yinmi glasses is also amazing.

Li Ming predicts that in 2015, the sales of Otomi will exceed the sum of the previous four years.

"We are not an e-commerce company, we are not an Internet brand."

Li Ming said, "Instead, we should use the Internet as a weapon to promote the reform of the glasses industry." ”

The introduction of this round of venture capital will undoubtedly greatly accelerate the speed of change.

Yisheng Yan, Partner of IDG, said, "As an investor in the consumer goods sector,

We have been following the eyewear industry for a long time and have always felt that it is a good opportunity.

But he couldn't find a suitable team until he ran into Li Ming and Wang Sheng.

They have good Internet genes and a unique and deep understanding of fashion and retail.

With the ability to integrate online and offline, it is an idealistic and highly learning team. ”

Hou Zhuo, vice president of Legend Capital, said, "The Yinmi model deeply combines traditional glasses with the Internet.

We believe this will explode with tremendous disruptive energy.

At present, the first sound meter on the Chinese Internet is just the beginning,

We are very confident that we will work with them to build a Luxottica in China

Italian Optical Retail Group). ”

Glasses has a market size of 80 billion yuan, but the industry evolution in the past ten years has seriously lagged behind.

On the other hand, consumers' understanding of eyewear has changed dramatically

It has completed the transformation from a purely functional product to a self-expression product

Moreover, consumers are strongly dissatisfied with the unreasonable prices in the industry.

"The Internet will be like a needle to puncture the original industry abscess."

Li Ming said.

He predicts that glasses will break out like the clothing industry in the past two or three decades, a wave of SPA changes.

SPA stands for Private Label Apparel,

It was first proposed by GAP in 1986, and in the following decades, SPA believers such as zara H&M and Uniqlo have taken the world by storm at an astonishing rate.

Li Ming said:

"The essence of SPA is to connect, to connect the design,

Production operations, retail, not only lower prices but also faster response to consumer demand.

And the essence of the Internet is to connect everything, and to bring the connection to the point of directness.

Therefore, the business model of Yinmi is very simple, which is the Internet-based glasses SPA. ”

Li Ming, founder of INMIX, "Many investors compare us with the American eyewear e-commerce company Warby Parker," Li Ming said, "but Yinmi is not going to become China's version of Warby Parker.

From the perspective of the global battlefield, we have a relationship with them, Liu Bang and Xiang Yu.

Qin lost his deer, and the world chased it.

This upgrade of the eyewear industry is a simultaneous change on a global scale.

Global consumers face the common problem of being too expensive, too earthy, and too aging products.

The brand is too old. ”

"Our vision is to help consumers achieve aesthetic and individual self-expression across gender, age and geography.

And become the world's best new generation of Chinese brand company. ”

Li Ming said, "I firmly believe that in the hands of our generation, we can make good use of the weapon of the Internet.

There will definitely be a number of Chinese brands that are popular all over the world, just like China has exported tea ceramics for thousands of years.

That's what really fascinates us about the brand. ”

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