MagMode, an incubator for men’s fashion designer brands founded by Cai Chongda, announced   its Series B2 round financing in June 2017. This round of USD 15 million financing was led by Cathay Capital and followed by Sinovation Ventures. MagMode also completed its RMB 15 million B1 round financing in May 2017. MagMode’s previous investor IDG did its pro-rata investment, Sinovation Ventures and Ventech China followed in the B1 round of financing. In November 2016, MagMode received 8-digit USD investment in  its Series A round, led by Ventech China and followed by Sinovation Ventures, China Growth Capital and IDG.

Like other brands emphasizing consumption upgrade, MagMode also regards the emerging middle class as its core clients. While introducing new designer brands to the market, MagMode actually helps fashion designers identify their market positions, integrate market resources, test the market demand and grow into a mature brand ultimately.

When Ventech China invested in MagMode in its Series A round, MagMode has opened its first concept store in Sanlitun Beijing and contracted with three top Asian designers, MASHA MA, SEAN SUEN and Jiazhen Xu. By now, MagMode in total has 15 offline stores, among which 10 are collection stores, 3 stores are for SEAN BY SEAN brand and 2 for MATTITUDE brand. Cai Chongda expects MagMode to generate RMB 100 million revenue by the end of 2017.

Besides offline stores, MagMode also organizes offline exhibitions to express its brands’ characteristics and culture and to attract more target users. MagMode regards online development not as a simple sales channel but as an approach of distributing specific contents which cannot be conveyed by offline channels. MagMode plans to create and expand its online content scenarios as well as establish its membership system in the next stage.

With the increasing personalized consumption demand, the growth of fast fashion starts to slow and the customized designer brands will become the future trend. The CEO believes the market of designer brands will grow significantly  in the future. However, there has to be a vanguard to lead the whole industry, and in Cai Chongda’s ambition, MagMode would take the role.