Does Foxconn Invest In Lingerie Brand, Can Data Change Traditional Manufacturing Industry?

The underwear brand BerryMelon has completed ten million RMB Pre-A round of financing in December 1st, and the investor is Foxconn. The exact amount has not been disclosed. Meanwhile, BerryMelon announces cooperation with Lenzing, a natural fiber group of Austria listed companies, which will jointly develop products.

Terry Gou, founder of Foxconn, said that investing in BerryMelon was due to concerns about women's health, and that technology and data could change traditional production industries.

Information from the sky eye shows that BerryMelon is the brand of Shenzhen koala clothing and Technology Co., Ltd., founded in 2017. In March 2018, the company completed the angel round financing, and the fund was not disclosed. The investor was a subsidiary of the Innovation workshop and Hon Hai Technology Group.

Interface fashion inspection BerryMelon official information learned that the brand's flagship for the Chinese women's chest characteristics of underwear products. Its competitiveness lies in the fact that thousands of real anthropometric data can be used to select the most suitable underwear version for consumers, and the offline experience hall can also provide volume fitting service.

BerryMelon has set up a two-year offline experience store in Guanghua Road, Beijing, and now its only offline experience shop is set up in Wangjing, Beijing, Wangjing Soho.

BerryMelon's low recognition in the market may be related to its single sales channel and small brand size.

BerryMelon's purchase channels are still online, and can be switched to WeChat Mobile's official website through its public address. BerryMelon provides a 60 second scale matching test on the official website of the mobile phone. After selecting a series of options on body and chest, users will jump to the user registration interface and get the test results after registration.

The interface fashion shows that the price of BerryMelon is light luxury, the price of bra is between 500 and 600 yuan, the price of underwear is up to 200 yuan, and the household clothing can reach more than 1000 yuan, but the annual price of all goods is almost 40 percent off.

It can be seen that BerryMelon wants to use price difference as a weight to attract members and accumulate loyal customers in the early stage of development. BerryMelon specializes in the discount price of members and compares them with the price of admiration and price. At the same time, it also provides members with extended services of "girlfriends" and "parent-child" members, and further expands the scope of attracting members.

From the past publicity content of BerryMelon, its marketing emphasis is mainly on market education. In its December 1st Chinese women's chest cognition report, the data reflect the lack of Chinese consumers' cognition of chest size, underwear consumption and self needs.

BerryMelon did not disclose the next development plan, but 36 krypton said in its report that BerryMelon will provide other quality brands to meet the needs of different scenarios in addition to providing its own brand to members.

The favor of the capital market for these smaller underwear companies reflects that China's underwear market is facing a shuffle.

Urban beauty, admiration and other large commercial brands occupy the Chinese underwear market for many years. As consumers have updated views on the aesthetics of underwear, similar brands, such as NEIWAI and small scale, emphasize design sense. At the same time, the category of underwear has begun to split up and spread to functional categories such as sportswear.

Data from the sky eye show that 50 competing companies, NEIWAI and BerryMelon, are almost founded in 2015 and 2016. Among them, there are subdivision of large Cup underwear O2O platform toffee pie, also have underwear vertical business platform interesting show, metamorphic box and so on.

Almost all of them start from the needs of consumers' differentiation, first deepen the market and then expand horizontally. Their marketing methods are more suitable for young people's aesthetic appreciation. They are more likely to get younger customers, and more conducive to brand image rather than vague impression of underwear manufacturers.

It is these companies that have attracted the attention of the capital market because of their youthful characteristics and targeted demand solutions. In October this year, NEIWAI received 150 million yuan in the C round financing from Qiming venture capital investment, and the post valuation was more than 1 billion yuan. Since its establishment in 2012, the brand has gradually developed from the original stainless steel underwear brand to the lifestyle brand of home furnishing, sports dances, fragrances and other categories. The group also extends from women to men and children.