Chinese sportswear company Maia Active has raised 15.7 million dollars in a series C round of financing, led by Belle International, a major Chinese footwear retailer. The news was reported by Business of Fashion.
Founded in 2016, Maia Active is the brainchild of Parsons’ alumni Lisa Ou Yirong, who has also worked at J. Crew, and her business partner Mia Wang Jiayin, who has worked at Victoria’s Secret and Xiaohongshu. The brand launched as athleisure was on a momentous rise, and their designs are based on the average bodies of Chinese women. Since the launch, they have built a strong grassroots base of fans.
According to the company, their revenues will hit 300 million yuan, marking a 166 percent growth rate year-on-year. By the end of this year, the company is projected to have 18 physical stores in China with 32 additional stores planned to 2022.