Le Tote expands internationally with launch of Le Tote China

By

Cassidy Mantor

Published
Jan 30, 2018

Le Tote has become the first US-based subscription service to launch in China with the debut of its new international rental division, Le Tote China.

Le Tote China will provide the same services in China as it does in the US. Customers will be able to rent unlimited clothing and accessories for a flat subscription-based fee.

Le Tote China is currently open to 3,000 women who were admitted to the beta program as Founding Members. These women will have premier access to the site in China and will also help Le Tote define the consumer needs of Le Tote China's customers.

“China is a nuanced market with its own cultural norms, standards and expectations. We can’t simply cut and paste the Le Tote experience,” said Clement Tang, Le Tote China CEO.

Tang noted that the "average per capita income in China is growing 10% year over year and 60% of disposable income is spent on fashion." Ultimately Le Tote China will have the capacity to reach 400 million women in the country.

Tang is a veteran Chinese retail executive who is helping Le Tote enter the new market. For the past 18 years, Tang worked for Belle International, China's largest shoe retailer. Belle was recently acquired for $6.8 billion which led Tang to begin a partnership with Le Tote China.

Rakesh Tondon, Le Tote Co-Founder and CEO said, “Regulatory restrictions are particularly tough and our partnership with [Tang] allows us to enter a market that so few venture-backed companies have been able to penetrate."

Le Tote China's headquarters are located in Shenzhen and there are satellite offices in Beijing and Hong Kong. It's Chinese distribution center is in Dongguan and plans exist for the expansion of its distribution network to include centers in Beijing and Shanghai as well.

Le Tote was founded in 2012. It partners with 150 brands that include Kate Spade, Rebecca Minkoff, and Nike to offer customers unlimited rentals via monthly subscription. It has Y Combinator backing and has received venture funds from Google Ventures, Epic Ventures and Funders Club among others.