Niche Product Retailer Newplay Pools USD769,000 in Angel Financing
Tang Shihua
DATE:  Jan 03 2018
/ SOURCE:  Yicai
Niche Product Retailer Newplay Pools USD769,000 in Angel Financing Niche Product Retailer Newplay Pools USD769,000 in Angel Financing

(Yicai Global) Jan. 3 -- Newplay, a unit of Shanghai Xishuo Information Technology Ltd., said that it has pooled CNY5 million (USD769,000) in angel financing as it moves forward with plans to sell niche products in offline experience stores and online.

Zehou Capital and Innovation Angel Funds participated in the funding round, internet media outlet 36kr reported.

Newplay previously produced 20-second short videos for new consumer brands. On Dec. 25, it opened its first offline experience store equipped with new retailing technologies, aiming to offer customers a niche brand shopping experience and to collect feedback data from them.

The store is divided into nine sections, including cool-play, home design, pets, kitchen and sports. Each displays around 50 products, and the shop updates its selection weekly.

Newplay collaborates with more than 600 groups, charging them CNY30,000 to CNY50,000 apiece per month for marketing services. The company also brings in money from revenue sharing agreements with e-commerce channels.

Newplay plans to enter Shanghai, Chengdu, Wuhan and Nanjing this year and intends to increase the number of sections in its stores to around 20.

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Keywords:   FINANCING,Newplay,Internet Marketing,Niche Market