Ventech China announced on to have invested in MagMode, an incubator for men’s fashion designer brands. This Series A+ round financing of nearly USD 10 million was led by Ventech China and followed by Sinovation Ventures. Its previous investors China Growth Capital and IDG also did pro-rata investment in this round.

Founded by Cai Chongda, a well-known Chinese writer and media professional, MagMode is an incubator for men’s fashion designer brands. Through incubating and designing in collaboration with top domestic and foreign designers, MagMode offers high quality men’s fashion products to Chinese middle class and young consumers. The CEO Cai Chongda has many years of experience in media and worked as the director and chief editor in GQ, Modern Weekly and China Newsweek.

Ventech China is optimistic about the great potential of Chinese men’s fashion designer brands stimulated by consumption upgrade. With the increase of disposable income, domestic middle class and young consumers care more about quality of their life and their taste on clothing is improving. By launching offline stores, MagMode enables consumers to have hands-on experience of quality products from these new designer brands, which is an efficient way to turn the consumption demand into purchasing behavior.

Since August this year, MagMode has successfully launched three stores in Beijing and Chengdu, and is actively working on launching new stores in more tier-1 and tier-2 cities. So far, MagMode has contracted with several Asian top designers to incubate new brands, including MASHA MA, SEAN SUEN, Jiazhen Xu and HIUMEN CHOW, and has agreed with several international top designer brands to design clothes collaboratively, including DISCOVERED from Japan and SCYE from Britain. The quality and design of MagMode products have been widely phrased by several domestic actors like Yifan Wu, Weiting Chen, Boran Jing and Ge Hu. Through effective content marketing, MagMode has also attracted public attention widely. Besides these offline stores, MagMode also launched an app to provide consumers with the latest update on new designer brands.

Eric Huet, the managing partner of Ventech China, believes that by incubating multiple brands, MagMode can better satisfy the increasingly diversified clothing consumption needs of domestic middle class and young consumers. The future performance of MagMode is promising and will be fueled by domestic consumption upgrade.