|By PR Newswire||
|March 25, 2014 10:16 PM EDT||
SHANGHAI, March 25, 2014 /PRNewswire/ -- China's largest fresh fruit shopping site, Fruitday.com, completed a new round of financing led by ClearVue Partners, a private equity fund targeting fast growing and promising consumer companies in the Greater China region. SIG Asia Investments, LLLP also participated in this round of financing.
"We met many PE firms and ClearVue was different. They were strategic, professional and had a deep understanding of our business and the consumer market in China -- we are thrilled to receive investment from ClearVue Partners," said Wang Wei, founder and CEO of Fruitday.com. "We believe that there is strong and increasing consumer demand in China for the freshest, high-quality fruits from around the world."
In China, total consumption of fresh fruit in the urban markets is estimated to have been over RMB 400 billion in 2013, with an annual growth rate of about 15 percent. Driven by an increasing customer demand for high quality and healthy fruits, the imported fruit sector is growing even faster with an annual growth rate of over 40 percent especially in mega-cities like Shanghai and Beijing.
Fruitday.com is a leading fresh fruit ecommerce site in China, dedicated to providing the freshest, highest quality imported fruits from all around the world to Chinese consumers. With 90 percent of its portfolio consisting of imported products and delivering two million cases of fruit to over a half million customers in China, Fruitday.com holds itself to the highest possible standards for quality and defines quality by the strictest criteria in the industry. The company is also a study in successful and efficient China operations: from its sourcing, warehousing, production, and delivery to its after-sales service and best-in-class operating team.
"We believe that online shopping for fresh fruit in China is a new and fast-growing consumer trend," said Harry Hui, Managing Partner of ClearVue Partners. "With access to the highest quality domestic and imported fruits from around the world, Fruitday.com has changed the way Chinese consumers buy fresh fruit, changed the operating model of the domestic China fruit and fresh food sector, and has helped to improve industry standards overall."
In only five years Fruitday.com has achieved a number of firsts for the China market: it's the first company to introduce the Sunkist Moro orange; the ultra-big Zespri kiwi fruit; cherries from Tasmania, Australia; pears from the U.S.; the Green Giant Mexican avocado; and Diva and HoneyGlo apples from New Zealand.
Fruitday.com is China's largest fresh fruit shopping site. Founded in 2009, the company's management team has over 30 years of combined experience in the fruit and food sector. Since its inception, Fruitday.com has built its own logistics systems and dedicated cold storage to provide high-quality fresh fruits to consumers through multiple distribution channels, in addition to a 48-hour response mechanism for after-sales services. Fruitday.com is committed to providing the highest quality fresh fruit shopping experience for China's consumers.
For more information, please visit www.fruitday.com.
About ClearVue Partners
ClearVue Partners is a private equity fund focused on investments in the fast growing and dynamic consumer sector in the Greater China region, primarily in the food and beverage, consumer lifestyle, and consumer internet/mobile sub-sectors. ClearVue Partners targets growth stage investments in fast growing and promising local companies, enables market entry for leading international consumer brands into China, and develops top-tier brands and businesses. The ClearVue Partners team has a unique combination of investment and senior operations experience from the US and Greater China, with an advisory group of recognized business pioneers in the consumer industry.
For more information, please visit www.cvpcap.com.
About SIG Asia Investments
Founded in 2006, SIG Asia Investments, LLLP (SAI) is aleading international venture capital fund focusing on the China market. With eight years of VC experience in China, SAI has invested in more than 80 Chinese companies with a total investment of US$800 million, involving industries including: mobile Internet, consumer products, IT, media and entertainment, healthcare, hi-tech manufacturing, and services. More than 12 of its portfolio companies have successfully listed in the U.S., including: CSC, GAGA, ChinaCache, Home Inns, Bona Film and Kanghui Medical.
For more information, please visit www.sig-china.com.
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SOURCE ClearVue Partners
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