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Club Factory

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Club Factory
Club Factory Logo.jpg
Club Factory Logo
Type of site
E-commerce
Available inEnglish
Founded7 June 2014; 5 years ago (2014-06-07)
HeadquartersHangzhou, China
OwnerJiayun Data Technology Co. Ltd
Founder(s)Aaron Jialun Li
Vincent Lou
ServicesOnline shopping
WebsiteClub Factory
CommercialYes
RegistrationRequired
Current statusOnline

Club Factory is a fashion, beauty and lifestyle e-commerce store headquartered in Hangzhou, Zhejiang, China.[1] It was created by Jiayun Data Technology, a Chinese company, in the year 2014.[2]

History

Club Factory was first launched in 2014 by Aaron Jialun Li and Vincent Lou,[3] both who are graduates of the Stanford University, California.[4] According to the makers, the Club Factory software uses proprietary AI-algorithm and knowledge graph to compare prices from multiple manufacturers.[5][6]

Club Factory has positioned its market in places like India, Europe, United States, Southeast Asia and the Middle East.[7][8] India became the leading market for Club Factory accounting for nearly 40 million users out of its 70 million users globally.[1] In India, Club Factory owes its growth in the market to its consumers.[9] The Times of India described the Indian consumers as "discount hunters"[10] who opt for Chinese online retailers due to their cheaper price.[11]

In 2018, the electronic commerce platform raised $100 million in a series C or venture round of funding from existing investors like IDG Capital, Kunlun Capital and Bertelsmann Asia Investment (BAI).[12] In July 2018, Club Factory appointed Ranveer Singh and Manushi Chhillar as ambassadors in India.[13]

References

  1. ^ a b "Have crossed 40 million users in India : Club Factory". Times of India. 7 September 2018.
  2. ^ "Club Factory announces club shopping week". Business Standard News. 13 September 2018.
  3. ^ "Vincent Lou's journey from Facebook to Club Factory". Economic Times. 3 August 2018.
  4. ^ Hsiao, Samuel (25 April 2018). "Club Factory recently raised US$100 million".
  5. ^ "Chinese online retailer Club Factory to scale up India operations". "FashionUnited". 11 September 2018.
  6. ^ "Club Factory Intensifies Focus on Indian Millennials". News Voir. 7 September 2018. Retrieved 1 October 2018.
  7. ^ "New online shopping app Club Factory launches in the Middle East". Mena Herald. 11 October 2016.
  8. ^ "Cross-border e-commerce platform Club Factory banks USD100 M to fuel expansion in Southeast Asia and Middle East". KrAsia News. 27 February 2018.
  9. ^ "How Club Factory made a success of connecting Chinese suppliers to Indian consumers". Factor Daily. 16 August 2018.
  10. ^ "Chinese fashion e-tailers see increased demand among Indian shoppers". Times of India. 27 November 2017.
  11. ^ "Chinese e-commerce apps like Club Factory, Shein, Romwe value India markets". Business Standard. 8 July 2018.
  12. ^ "China's Club Factory raises $100 Million in Series C". Asian Venture Capital Journal. 14 February 2018.
  13. ^ "Ranveer Singh and Manushi Chhillar come together to promote e-commerce fashion brand, Club Factory". Economic Times. 13 July 2018.

External links