China-based fashion e-commerce platform ICY has secured almost RMB100m ($14.6m) in a series A round led by Fosun RZ Capital, a corporate venturing vehicle for conglomerate Fosun, 36Kr has reported.
ICY has built an online platform that utilises crowdsourcing and automated supply chain technology to help designer fashion brands sell items to a young customer base across China’s first and second-tier cities.
The model is intended to help independent designers produce and sell their designs to a wide customer base without needing to partner larger businesses that may wrest control away from them.
