Shoes Trading Platform Nice Completed Tens Of Millions Of Dollars D Round Financing

36 krypton learned that nice, the footwear trading platform, formally announced the completion of the D round of financing of tens of millions of dollars. The current round of financing is jointly led by TPG Softbank joint venture fund and Yuan Kun capital. Jingwei and China venture capital and investment, and van Zhuo capital is the exclusive financial adviser for the current round of financing.

Nice was founded in 2013. It began to locate in social networking. In 2014, it completed 3 rounds of over 60 million US dollars financing. The team was spanformed in 2018. The new product was located in the "Chaozhou community + trading platform", which was formally launched in July 2018.

Although it has undergone spanformation, Zhou first made an electronic business project before founding nice. According to the data provided by the team, it took only 5 months to achieve the goal of GMV billion.

Sneakers are a fast growing market and a market ignored by the mainstream in the past. This is an opportunity seen in the spanformation of nice, but in terms of racetrack, nice, which was officially spanformed in July 2018, does not actually have the first mover advantage: before that, other players have cut into and gained a certain market share.

Therefore, for the development of nice, Zhou believes that first of all, it is the market of the sports shoes, and more specifically, the dividend of current consumption. The core of nice lies in finding "differentiated demand", and at the same time, based on this demand, there are differences in products.

Nice defines demand as two parts, "what to buy" and "how to trade". The former corresponds to planting grass and popular science, while the latter deals with spanactions. Therefore, on the product, nice "left hand community and right hand trading" to meet the demand from content, community to final spanaction service.

The community plate solves the problem of excessive consumption of sports shoes and related contents in the past. Because the sports shoes are corresponding to the trend of consumption, they are extremely non-standard, so users will be more dependent on the content.

Zhou told 36 krypton that nice's positioning is interested in tide cards. The core position is the community. Even the spanaction is an extension of the community. The core is to "stick" the users and drive consumption through the community. To be more honest, nice hopes to create a path for users to come to nice because of high quality content, and eventually save it. Finally, it will help users and users to complete spanactions through mechanism design.

Therefore, in the spanaction session, the positioning of nice is a C2C platform. The characteristics of sneakers can be derived from the concept of "two level market for sports shoes", and a super platform such as StockX has been born overseas.

The biggest difference between the trading platform and the electricity supplier under the C2C mode is that the identity of the seller is sold in the platform, which determines that the product design and operation logic are different from the electricity supplier. Zhou told krypton 36, "only at the same time maximizing the needs of buyers and sellers, users will be more willing to stay on the platform." This is the premise of nice in more detailed spanaction logic and mechanism design.

In addition, the interactive mechanism of C2C has solved the pricing problem of non-standard goods spanactions. The premise is that the service is adequate. In order to ensure the standardization of services, nice has done three things:

Identification service: This is the pain point in the process of shoes trading, but it is also the basis of standardization.

Ensure seller's delivery and buyer's receiving time;

More fair trading rules for buyers and sellers.

In terms of specific services, nice aims to support different types of products such as spot trading, flash buying, second-hand and so on, but the core is still a bilateral trading platform, and the main profit point is the Commission.

After the sneakers, what nice must do is to expand the category. But on the whole, the team is still very tight about SKU. It will not expand the category and SKU easily. It will mainly discuss the new products and try new products in the community. As for how to define "fashion consumer goods", Zhou first thinks that the trend of consumption in the future must be a parallel market with mass consumption, which is only a different scenario and a single product appeal.

The nice team told 36 krypton that the Starbucks cat claw cup, which has been in flames for more than half a year, is an example. After official sales, it also has a high degree of popularity in the nice community. Therefore, the platform has launched the SKU, and nearly 3000 have been traded on the nice platform within 48 hours. In June this year, the joint series of UNIQLO and kaws was launched, and over 30 thousand spanactions were generated in 48 hours on the nice platform.

At present, the focus of nice is to enhance word-of-mouth. In other words, nice is currently serving a relatively hardcore trend consumer. It has not been particularly popular. At present, 88% users on the platform are 95.

After the completion of this round of financing, the team will mainly expand the product technology and service team, and will also invest in the expansion of user scale.

Regarding the current round of investment, the investment logic of the leading institutions is:

Yuan Yuan Capital Partners Wang Qi said that yuan continued to pay attention to the new consumption innovation brought by the emergence of new crowds, intergenerational replacement and demand upgrading. Nice is the new platform opportunity we have found. The rapid rise of the online shoe market has stimulated the consumption demand of a large number of young people, especially in the men's field and after 95 young people. The online trading platform built by nice accurately grasped this trend and realized the rapid growth of business. With the deep experience of the company's founding team in the industry and the deep understanding of this consumer group, we believe that nice can cut into the wider trend of single products and become a gathering place and tide trading platform for young people.

Ding Haipeng, partner of TPG Softbank joint venture fund, said: "the trend is no longer just a minority interest. It has become an important attitude of life for young people nowadays. Nice has the potential to become China's StockX, not only to become an exchange of trend shoes, but also to become an exchange with all the potential consumer products. Nice's CEO week has many years of entrepreneurial experience with the team, and has a very deep understanding of the trend. They have experienced ups and downs together, and now have more experience and better mentality. We believe that this team can bring nice to a higher level in the future.