Baodashi

About Baodashi

智锐创想（北京）科技有限公司, operating under the brand name 包大师 (Baodashi), has established a significant presence in China's burgeoning luxury after-sales market. The company was founded in 2016 by Nalan Zhengxiu, who serves as the CEO. Ms. Nalan's journey into this sector was preceded by an extensive career in the auction industry, which she entered in 2002. Her experience auctioning a wide array of items, from real estate to art and luxury goods, provided her with a deep understanding of asset value and market dynamics, which became foundational to Baodashi's business strategy.

Baodashi initiated its operations by offering online maintenance and care services for luxury products, addressing a direct need in a market with a growing stock of high-end goods. Recognizing a broader opportunity, the company strategically expanded its business scope to encompass the second-hand luxury market, including recycling and consignment sales. This evolution marked a shift from a service-oriented model to a comprehensive digital platform for the luxury goods lifecycle. The business operates a C2B2C model, connecting individual sellers and buyers through its platform, which also provides crucial authentication and valuation services. Revenue is primarily generated through commissions on transactions and fees for services such as authentication and maintenance.

A key milestone for the company was its collaboration with the Shanghai Free Trade Zone in 2019 to establish a luxury goods exhibition and trading center, which includes a state-sanctioned authentication laboratory. This move not only enhanced its credibility but also solidified its supply chain resources for both new and pre-owned items. Further cementing its role as a market standard-bearer, Baodashi, in partnership with the China Quality Inspection Association, released the country's first technical standard for brand leather goods authentication in January 2022. This initiative addresses the critical issue of trust and standardization in the second-hand luxury space. The company has successfully secured multiple rounds of funding from notable investors, including a nearly RMB 100 million A+ round led by Huaying Capital and a subsequent B round led by Fosun, enabling it to scale its operations and advance its digital platform.