Alibaba’s musical instrument arm gets angel funding
COLDSKY.CN – Miao Music (Miaoyin) Culture, the musical instrument sales arm of Alibaba, has received an undisclosed amount of angel funding from Zhejiang Yihui Assets Management Co., Ltd( 浙江屹汇资产管理有限公司), startup information portal pencilnews.cn reported.
Tmall.com, the business-to-consumer (B2C) online retail operation by Alibaba, and Miaoyin Culture launched an experience center last April so customers who made online inquiries can try out instruments and attend lessons at a brick-and-mortar store.
Xia Zhouxi, founder of Miaoyin Culture, said the experience center now works with more than 30 top-line brands including Hailun Piano, MacAllan, Nanfeng and Ruiyang.
Twelve such centers Beijing, Nanjing, Xi’an, Suzhou and Chongqing also offer tuning, repairs, training, after-sales and other services.
Miaoyin Culture, based in Hangzhou City, aims to shorten the link between customers and manufactures through the new retail approach.
Xia also said partners at the experience center saw their sales on Tmall.com rise 146 percent year-on-year during the trial run between March and May, far higher than the average growth rate.
The injection of new funding will help improve the service system and develop an app as well as interface with the lightweight WeChat mini program. Miaoyin Culture also plans to incorporate more manufacturers and individual makers of musical instruments into the experience center and open up more stores in more cities.
(COLDSKY.CN’s English report authorized by pencilnews.cn, Chinese version here https://www.pencilnews.cn/p/17589.html)
COLDSKY.CN’s check of the National Enterprise Credit Information Publicity System (Zhejiang Province), http://zj.gsxt.gov.cn/subPubSys-330000.html found that that investment company Yihui was placed on the “list of irregular operations” by Hangzhou market regulators on Jan. 19, 2018, for “being unable to contact through the registered address or site for business operations’’.