Today we catch up with my good friend Michael Wang, who is currently COO of YCloset, an online clothing rental and subscription service that raised $20m Series B in March and has already scaled to 40 cities in China. Before YCloset, Michael was on the other side of the table, having spent a few years at KKR before joining IDG Capital, where he was also the lead investor for YCloset's Series A+ round. As such, Michael offers a unique view, speaking from both an operator and investor perspective, and can help us understand the following: Clothing rental companies only recently became popular in China, whereas comparable companies abroad such as Rent The Runway have been around since 2009… what's different now? How does YCloset compare against global and domestic competitors? What are key success factors in this market, from optimizing logistics to central dry cleaning to capital accessibility? What role do China's tech giants (e.g. Alibaba or JD) play in this arena? What is the "rent-to-buy" model, and what might this market look like in the near to medium term? Link to write-up here: https://www.theharbingerchina.com/blog/rent-to-buy-the-chinese-runway-with-ycloset-coo-michael-wang
“Rent-to-Buy” the Chinese Runway – with YCloset COO Michael Wang
Today we catch up with my good friend Michael Wan…
Aug 15, 2017

Harbinger Asia
Growth across Asia continues to accelerate, shaped by new technologies, unique market dynamics, rising demand, and vibrant competition. Yet many of the stories behind this transformation remain unseen.
The Harbinger Podcast brings these stories to light through candid conversations with the founders, investors, and innovators driving change on the ground.
Growth across Asia continues to accelerate, shaped by new technologies, unique market dynamics, rising demand, and vibrant competition. Yet many of the stories behind this transformation remain unseen.
The Harbinger Podcast brings these stories to light through candid conversations with the founders, investors, and innovators driving change on the ground.Listen on
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