Yetang.com, which literally means “wild candy”, is the product of the hard work of Natasia Guo and Zhang Yan. It is the newest, coolest, hippest fashion e-commerce website targeted for the young hip Chinese market. Securing a funding of about a few multi-million RMB with IDG Capital Partners, a Chinese-based American investment firm, Yetang is said the next big thing to reach great heights in the Chinese online world.
Yetang targeting the youth with different strategies
Yetang is introducing the indie-chic, artsy partsy, cutesy tootsie, post name brands in the Chinese online market. With the post-90’s bracket of market in mind, Yetang’s giving cool vibes with its web design and different marketing strategies. Instead of doing flash sales strategy like most e-commerce fashion markets, Yetang is more into the introduction of new products every day with discounts on certain items expiring after a day or two, but the goods will always remain in the website until it sells out.
Yetang marketing independent designers
Independent designers starting out as an entrepreneur could be very hard in today’s market, as the Chinese consumers always go to who they know and are familiar with. At the same time, there are no proper markets willingly accepting and selling independent labels. According to Guo, “Yetang doesn’t just sell; rather we help independent designers succeed.”
Yetang is an online Chinese website specializing in clothing/fashion products from independent designers. It is more like a market where independent designers are encouraged to sell, and a market where they could be seen and known by the mass youth of the Chinese online community. Yetang’s platform directs users directly to the designers, with the delivery of products in the hands of the designers; meaning Yetang doesn’t have to carry any inventory at all. With almost a thousand independent designers now in the Chinese market, Yetang has big potential products, and offers, then a big number of sales from the market.
Yetang’s marketing strategy
Launching just last October, Yetang was already visited by around 720,000 users with 250,000 registering as members and offering at around 15,000 products from more than 500 different brands/designers. The company sold at around 9,000 items on the month of June alone, and the growth of its success is still continuing to grow. As of now, Yetang is solely putting its success to various social media marketing and word of mouth.
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