On August 9th, the textile B2B platform “Baibu†announced the completion of 165 million B + round financing, led by Yunqi Capital, and became the capital and source capital to continue to vote. However, Tencent’s entrepreneurship cannot confirm its financing.
It is reported that the new round of financing will continue to expand the scale of business, to build a "better" and "faster" supply chain system to better serve each garment enterprise.
It is understood that Baibu was established in April 2014 and is the only self-operated platform in textile B2B.
According to the China Textile Industry Association data, in 2015 the national textile enterprises the main business income of over 10 trillion yuan, nearly 5,000 suppliers to provide a fabric styles of nearly 3 million, also nearly one million new release rate is increasing every year. Due to the wide variety of products, the upstream and downstream are scattered, which makes it difficult for garment enterprises to find cloth. It is slow to find cloth. It is 2 or 3 days short and one or two weeks long. At the same time, due to the multi-level distributors in the fabric market, the cumulative price increase of each channel is generally 30-60%, and the quality stability of the products is difficult to guarantee and the performance system is not perfect.
Baibu believes that the self-operated model is the key to textile B2B. At the beginning of 2015, Baibu took the lead in developing self-operated business. After more than two years of development, it has established supply chain centers in Guangzhou and Shaoxing, and deep cooperation with more than 800 first-level supply. Business, and links to more than 3,000 Tier 1 suppliers, with absolute quality and price advantages in more than 10,000 products in more than 100 categories, and more than 500 new product developments per week.
At the same time, Baibu has established a self-operated fabric information database of more than 3 million SKUs, covering more than 80% of the visible fabrics in the national market. Its image retrieval technology specifically solves the problem of pattern matching of flower fabrics. At present, the image matching accuracy is as high as 98%. the above.
At the same time, Baibu set up a warehousing system in East China and South China according to the current sales situation and trends of each city, so that customers can buy fabrics better and faster. At present, Baibu's business scope has expanded to garment production centers in Guangzhou, Foshan, Dongguan, Hangzhou, Shaoxing, Wuhan, Chengdu, etc., serving more than 100,000 garment manufacturers.
Mr. Zhao Zhenhong, founder and CEO of Baibu, said that Baibu will continue to exert its strength in supplier cooperation, product development and warehousing system to create a better and faster supply chain service system, and will expand its business in Central China, North China and Southwest China. A number of garment production centers have established higher supply chain service standards in the textile B2B sector and continue to expand the leading market share.
As the leading investor in this round, Mao Qiyu, the founding partner of Yunqi Capital, said that there is a great space for transformation and optimization in the trillion-dollar fabric market. Baibu’s self-operated model is compared with other such as online yellow pages. The model of purchasing services can solve the problem of supply and demand in the industry, and provide downstream customers with lower prices, better products and better services. At the same time, Baibu's powerful supply chain system and transactional systemized data have improved the efficiency of the supply chain. By connecting upstream suppliers, establishing a standardized cloth information database, and efficient matching of technical systems, the original information is extremely asymmetric. The upstream supplier and downstream demand are linked to complete the closed loop of the transaction. In addition, the Baibu team not only has deep experience and resources in the fabric industry, but also has excellent industry insight and execution ability, can stand on the overall height of the industry, and implement it efficiently at the business level.
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