Online fashion platform enabling women to shop at their favourite stores in one place.
Mihaibao means ‘seek for ocean treasures’ when translated into English. Mihaibao is a cross-border marketplace for Chinese shoppers seeking Western luxury goods. A onestop shop that simplifies the overseas shopping experience, offering genuine, unique and cheaper luxury goods. Customers can buy from many stores with one basket, one shipping, and one invoice. They shop in Chinese, pay with local currencies and payment and save up to 56% on Mihaibao.
Unlike a number of other online retail portals in China, the uniqueness of our proposition is that we curate Western goods that will work in the Chinese marketplace. We understand the cultural differences and thus our website is truly where the west meets the east, with Mihaibao being the easiest way for Chinese people to shop the West online.
In 2014, it is reported that about 70% of luxury goods bought by Chinese customers were brought from abroad. The value of luxury goods brought abroad is estimated to be between $9 and $12 billion, according to Bain & Company. Combined with over 600 million users online, there is a massive potential for this marketplace to grow exponentially.
Mihaibao’s advisory board includes the ex-Global Director at Paypal and ex-COO of Google (EMEA).