Intimate clothing brand “NEIWAI inside and outside” completes US$100 million in Series D financing, which will accelerate the deployment of offline models

It was the first to start with women’s non-wire underwear inside and outside. Currently, there are three parallel core product lines of underwear, home casual wear, and sports and leisure wear.

intimate clothing brand ” neiwai inside and outside ” (hereinafter referred to as inside and outside) has recently completed a $100 million round of financing. It was led by a global dollar investment group. The old shareholders Xiangfeng Investment and Qiming Venture Capital followed the investment, and Duowei Haituo took the lead. Sole financial advisor and follow-up investment. This round of financing will be used for R&D and design of new categories, brand building, and business expansion through domestic and foreign channels.

Inside and outside is a brand that 36 krypton continues to pay attention to, and it has been reported many times before. Established in 2012, it was the first to cut into women’s rimless underwear both inside and outside. At present, there are three core product lines paralleling underwear, home casual wear, and sports and leisure wear. With “comfort” as the main focus, new middle-class female users aged 25-40 are inside and outside, and the demand for intimate clothing is extended with the scene as the core. There are about 400-500 SKUs of products per season. Since 2017, both internal and external channels have been expanding and focusing on the expansion of offline business. In the first half of this year, omni-channel sales increased by 260% year-on-year, monthly sales exceeded 200 million yuan, and the annual repurchase rate reached more than 50%.

Intimate clothing brand "NEIWAI inside and outside" completes US0 million in Series D financing, which will accelerate the deployment of offline models

Inside and outside display map

Since its inception, both inside and outside have positioned themselves as a product company . With the development of the company, they have gradually formed distinct brand values: advocating true and diverse aesthetics, and encouraging women to explore their own bodies by satisfying women’s product needs in different scenarios. More possibilities with the heart. In 2020, Faye Wong, the brand’s global spokesperson for internal and external official announcements, and through brand projects such as “NO BODY IS NOBODY”, will explore women’s issues such as diversification of women’s bodies, free lifestyles, and intimate relationships.

” Many people think that inside and outside are an underwear brand, but we will position ourselves as an intimate clothing brand. The three major categories of inside and outside, underwear, casual wear, and sports will gradually develop to 30%, 40%, About 30%. ” Founder Liu Xiaolu told 36Kr.

Online and offline inside and outside are two different sets of logic play. Occupying consumers’ minds online, the main goal is to acquire customers, mainly with high-cost, basic style underwear, and is gradually becoming a standard product, to solve the needs of AD cup women’s underwear wearing needs of different body shapes with peace of mind. Sizeless underwear is the current core explosive product inside and outside.

Intimate clothing brand "NEIWAI inside and outside" completes US0 million in Series D financing, which will accelerate the deployment of offline models

Inside and outside store display map

The team observed the data and found that the average customer unit price for internal and external online is about 300 yuan, but the average offline is about 1,500 yuan, which is about 5 times that of online. Hot bra online and offline product in style and price will be different: the main lines to 150-200 yuan, and the line at about 300-600 yuan, the main high-style material, fine detail and fine actuator Design sense. The offline scene is suitable for new product recommendation, product try-on and full-category sales, and the associated rate is very high.

Therefore, offline is the next key development part inside and outside, especially in the direction of the big store model. Large stores are a current retail trend, which can give users a better experience and better reflect brand positioning. In the past few years, internal and external stores have opened more than 120 offline physical stores in the core business districts of 32 first- and second-tier cities across the country. The average area of ​​a single store is 70-80 square meters, which lays the foundation for the establishment of large offline stores. basis. In April this year, the first domestic and foreign concept flagship store was re-opened in Jing’an Kerry Center, Shanghai. The sales of the 200-square-meter single store exceeded 2 million yuan in the first month. At present, both domestic and foreign companies have established cooperation with Kerry, Swire, Sun Hung Kai, Hang Lung, Wharf, China Resources and other real estate companies. This year, they will speed up store expansion.

In the exploration of the internal and external offline model, there are two innovation points that distinguish it from other brands.

First of all, the “shop-in-shop” model is adopted inside and outside to bring NEIWAI ACTIVE, a sports brand under the brand inside and outside, into offline. NEIWAI ACTIVE is an independent sports brand owned by domestic and foreign companies and an important part of the product line. At the earliest time, relying on mature underwear research and development technology inside and outside, we used sports bras to test the water, and found that the market feedback was very good, so it gradually expanded to legging and even sports. Liu Xiaolu told 36 krypton that every sports brand on the market has memories associated with sports categories, such as lulu lem on and yoga; therefore, as a brand that emphasizes physical expression, inside and outside, choose dance as the core entry point, because of consideration Pan-dance movement is a big trend among young people in the future. In addition to dancing, other urban women’s sports scenes such as yoga and Pilates will be extended inside and outside, and even more fashionable niche sports. This year, NEIWAI ACTIVE’s offline sales accounted for 20%, and it will become a key growth category for the brand in the next three years.

In strengthening the minds of consumers, NEIWAI ACTIVE has been cooperating with international ballet artist Tan Yuanyuan (now a global brand ambassador) since 19 to bind the brand to “ballet”. In addition, NEIWAI ACTIVE cooperates with first-line fitness venue brands to jointly name courses, and regularly organizes offline sports community activities to promote the brand in the fitness group to reach the market for precise users.

Intimate clothing brand "NEIWAI inside and outside" completes US0 million in Series D financing, which will accelerate the deployment of offline models

Inside and outside store display map

NEIWAI ESSENTIAL is also an innovation. In the offline retail scene of underwear in the past, traditional bra brands focused on one-to-one service, or fully self-service like Uniqlo. The two scenes are combined inside and outside. Products with partial standard products, such as socks and Yunduo size-free underwear, can be selected by users when purchasing, without too much dedicated service. Therefore, they are displayed inside and outside according to category , which is convenient for users to choose. The purchase is done in a semi-self-service manner. After operation, the development efficiency and efficiency have been improved, and it is more in line with the consumption habits of young people. 

Going to the sea is also a key part of the internal and external strategy. As early as 2015, both inside and outside have cooperated with overseas buyers to sell products, and accumulate feedback and experience through participating in overseas exhibitions. In 2020, internal and external established a local operation team in the United States, and launched the international independent official website in October. With comfortable products and distinctive brand value concepts, users in overseas regions have grown rapidly without entering Amazon and using brand play. , 2021 annual sales are expected to exceed 30 million U.S. dollars.

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