Yishou

About Yishou

Yishou operates as a key B2B e-commerce platform within China's expansive apparel industry, connecting clothing suppliers with a diverse client base of downstream vendors. The company, officially under Guangzhou Fumi Technology Co., Ltd., was established around 2016 and is headquartered in Guangzhou, a major hub for clothing manufacturing and wholesale. Its clientele includes vendors on C2C platforms like Taobao, traditional brick-and-mortar retailers, and street vendors who utilize the Yishou app to source inventory.

The business model is centered on wholesale aggregation, providing a one-stop digital solution for professional clothing buyers. Yishou's platform grants these business customers access to a wide variety of apparel, such as t-shirts, skirts, and trousers, which they can then resell through their own channels. The company's value proposition lies in consolidating access to numerous primary wholesale markets, including Guangzhou's Shisanhang and Shahe, Hangzhou's Sijiqing, Shenzhen's Nanyou, and Puyuan's sweater market. This allows smaller retailers to bypass the high minimum order quantities often required when sourcing directly from large wholesalers. Through its app, Yishou facilitates a group-buying model where orders from multiple retailers are pooled, enabling them to purchase as little as a single item at near-wholesale prices, thereby lowering inventory risk and cost.

Financially, Yishou has demonstrated significant traction and investor confidence. The firm secured a Series A in October 2017, followed by a RMB 55 million (USD 7.8 million) Series B round in March 2019 led by Shunwei Capital. A substantial USD 40 million Series C was announced in June 2020, led by CMC Capital with participation from China Renaissance. By mid-2020, the company reported achieving a monthly gross merchandise volume of RMB 200 million (USD 28.2 million) and had reached profitability. The platform generates revenue by taking a percentage of the transactions facilitated through its marketplace, leveraging its role as an intermediary to offer lower prices than traditional second-tier wholesalers.