Joint Led by IDG Capital and Sequoia Funds China, the footwear company’s Series A funding represents VC giants’ self esteem in the prospect and potential of this business.
LOS ANGELES, June 21, 2022 /CNW/ — Miracle MILES Group INC., a footwear technological know-how business that owns the common brand Aspiration Pairs, officially announces today that it has closed a $100M Sequence A funding. The financing jointly led by IDG Capital and Sequoia Money China will further increase the firm’s intense expansion into the worldwide current market.
“This spherical of funding has been shut inspite of a especially hard and turbulent capital sector, which reveals the assurance of environment-course traders in the strength of our business,” says Brian Cao, founder of Miracle MILES Team INC. “To get ready for global enlargement, the company is establishing an clever cloud platform to examine the industry’s major knowledge. Establishing remarkably-effective electronic administration systems enhances the entire product existence cycle from solution layout and improvement to conclude-consumer small business.”
The firm owns three critical brand names: Aspiration Pairs, which leads Amazon.com in ladies manner footwear gross sales, the small business-informal menswear model Bruno Marc, and Nortiv8, an outside recreation line. All a few are between the Leading 100 footwear brand names on Amazon.com, with additional than 20 million pairs of footwear bought. Most notably, Dream Pairs has ranked as the #1 seller in lots of classes, which include heel sandals, flats, and pumps.
“We are pretty amazed by their diligence and perseverance when enhancing the consumer knowledge journey,” said Jiajia Zou, Lover of Sequoia Capital China. IDG‘s Partner Meng Lian also spoke extremely highly of the provide chain performance: “Miracle Miles Team has an extraordinary marketplace share and keeps escalating despite a world wide pandemic. We are impressed by their devotion to promptly launch and bettering long run variants. We look forward to escalating jointly with them,” Meng stated.
With the ammunition from this round of financing, the business will arrive at even more clients in the US and move forward to develop a larger sized consumer foundation in The usa, Europe, and Asia in 2 to 3 decades.
About Wonder MILES Group INC.
Miracle MILES Group INC. is a tech-driven footwear business with a few well-founded makes: Aspiration Pairs, Bruno Marc, and Nortiv8, masking various categories: women’s footwear, kids’ shoes, men’s sneakers, outside shoes, and get the job done sneakers. With over two thousand shoe styles and 20 million customers, MMT’s mission is to generate worth for and make quality fashion accessible to buyers by furnishing fashionable, useful, cozy footwear with sensible pricing.
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