A provider of data-driven solutions for the luxury, fashion and beauty markets, Luxurynsight has secured an investment of €2m from new investors Xiamen Qishang Equity Investment, Tandem Venture Capital and Leadway International Investment.
The company will use the funds mainly to bolster its growth in China and to continue developing “cutting-edge” data solutions. “We have always believed that the luxury industry needed to go through a strong change. The recent crisis has only accelerated this trend and forced us to put an even stronger focus on developing innovative approaches and technologies for leaders to navigate their immediate challenges and develop strategies to grow in the new world,” explains the company.
Luxurynsight released a report on the rebound of the luxury and beauty business in China this summer.
Founded in 2011, the company opened an office in Shanghai in 2019 and also operates a China Desk in Paris.
See the Fall issue of our sister magazine Formes de Luxe for an interview with Luxurynsight CEO Jonathan Siboni on the Chinese luxury consumer.