Feiyu

About Feiyu

Feiyu is a retail brand focused on the secondhand high-end consumer goods market, operating primarily through livestreaming e-commerce. Founded in October 2016 by Huang Shichang, who has over a decade of experience in the e-commerce industry, the company initially focused on niche luxury goods from abroad before pivoting to secondhand luxury livestream sales in October 2018. This strategic shift was driven by the difficulties in integrating foreign supply chains.

The company's business model is centered on a "C2B2C+B2C" supply chain, which sources products from both individual consumers and hundreds of offline secondhand luxury stores. Feiyu provides services for purchasing, consignment, and recycling of luxury items like handbags, watches, and jewelry. The platform operates through its own app,小程序 (mini-program), and has a significant presence on major e-commerce and short video platforms like Taobao and Douyin, with over 40 brand livestream accounts. Revenue is generated from transactions on the platform, and by 2019, Feiyu's overall sales volume reached nearly one billion RMB.

To ensure authenticity, every item undergoes a triple appraisal and re-inspection process by certified appraisers, and the company partners with insurance providers to offer guarantees against counterfeit products. Feiyu has established itself as a major player in China's rapidly growing secondhand luxury market, which is increasingly driven by environmentally conscious and internet-savvy millennial consumers. The company has successfully raised capital, including a Series A round in March 2020 and a Series B funding of $30 million in June 2021, with investors like N5Capital, Matrix Partners China, and Legend Capital.