Upcoming chinese lingerie brand has recently gained mass media attention when they received $100million in series D investments from The Carlyle Group. This is the third time Neiwai has received such a large investment, the other two being in 2019 and 2017. Pronounced nay-why and meaning ‘inside and out’ the company is soon set to be everyone’s go-to.
The brand was started by business partners and couple Jiang Li and Xiaolu Liu in 2012. Liu’s business background and history in the women’s intimate industry encouraged her to create the product that the industry was missing. Liu received her masters degree in business from Washington University after completing her undergraduate study at the University of Hong Kong. Her partner, Li, is often described as a ‘serial entrepreneur’ given his history. After receiving a PhD in biology from Columbia University, he started a string of seemingly unrelated businesses before landing in pharmaceuticals. The brand started small, with just over $1000 in a tiny rental studio in Shanghai. Both her mother and grandmother had history with the womens underwear industry, having managed Shanghai’s first underwear textile industry.
Liu noticed a disconnect from manufacturer to consumer that meant women were not getting the underwear they needed. Her product, created by women for women, is just what the market was missing. One of her biggest inspirations was an elderly woman she had met during her study in New York, who had expressed her loyalty to a dutch Swiss underwear brand she had been wearing almost her entire life. Liu thought all women should be able to find a fit so perfect that they could wear it everyday, and that’s what she is doing for her customers.
The brand puts heavy focus on product innovation to create the perfect product that fits well, looks good, feels good, and lasts long. Their secret to this is time spent on product development and research. With their team of heavily experienced designers from top worldwide institutions, they invest their time in creating the perfect garment. This aspect is what puts them ahead of their competitors, who tend to cut corners wherever possible. In the underwear hub of Shanghai, Liu has said that competition does not scare her because her brand goes above and beyond. Their loyal customer base is what drives their brand, not competitors.
Compared to their peers, Neiwei puts forth a progressive attitude with their displays of women of different body types, and varying skin tones. The brand falls in line with many young consumers who are prioritizing comfort and quality over aesthetics. This is especially true for their revolutionary wireless bra, that even comes in half sizes to guarantee a perfect fit. Their extreme comfort has garnered extreme brand loyalty, with some customers who say they can’t go back after feeling a pair of Neiwei underwear.
This third investment will take the brand to the next level, and hopefully broaden their global presence. With an annual growth of 260% the brand is on its way to a big boom, especially with investors monetary support. The brand currently has 160 locations but hopes to reach 200 by the end of this year.
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