Novo operates a specialized department store chain focused on fashion apparel and accessories for China’s urban youth. The company was founded in 2004 by Chairman and CEO Alan Fang and currently runs 11 operational stores in selected major cities located in shopping malls and department stores. Novo also operates a franchise network selling international fashion brands, with over 80 stores under brands such as LeSportsac. Since KKR’s investment, Novo has expanded its nationwide store network and pursued licensing agreements with international fashion brands to support growth. Management plans to grow aggressively in the coming years across anchor stores and brand development to capture rising demand in the youth apparel market. The firm positions itself to capitalize on a $38 billion Chinese youth apparel market that the article says has grown about 16% per annum since 2005.

Total raised

$30M

Funding rounds

1

Latest round

Equity

Latest activity

Aug 2012