Chinese new retail enterprise KK Group, formerly known as KKguan, has recently completed a new round of financing worth approximately US$300 million.
This round of financing was led by JD.COM with other investors such as Xintianyu Capital, CMC Capital, Hongtai Fund, CITIC Securities, Harvest Fund and Ince Capital also participating. After the fundraising round, the company is now valued at about US$3 billion. KK Group declined to comment on the fundraising effort.
In August 2020, KK Group raised RMB 1 billion in an E round of financing. To date, it has completed seven rounds of financing, attracting investors such as Shenzhen Venture Capital, Jingwei China, CMC Capital, Hongtai Fund, Black Ant Capital and Bright Capital.
KK Group covers three main categories of products: daily necessities, beauty and skin care products, and trendy toys. Recently, the company has enjoyed great popularity among Generation Z, and has opened franchise stores in more than 100 cities across China.
JD.COM, which is eyeing a new generation of consumers and brand owners, has many opportunities working with KK Group in its supply chain, logistics, distribution, and branding. Publicly available sources show that KK Group has adopted the warehousing solution provided by JD.COM.