Chunshuitang Raises Funding to Become Biggest Online Adult Retailer in China

Chunshuitang, a Chinese online retailer for adult sexual products, announced yesterday the completion of an RMB80 million (about US$13m) funding round, one of the biggest in this market so far in China. Following the funding, the site has launched a daily deal business with which it plans to disrupt the high-margin adult sexual product market.

Some 90% of adult toys sold around the world are made in China, according to Chunshuitang founder Lin Degang, and the global sexual product market is estimated to be about US$129 billion with China generating about RMB60 billion (about US$97m) in annual sales (source in Chinese). Founded in late 2012, Chunshuitang observed the local market growth building steam from 2008 (source in Chinese).

Sex toys are sold at several times their production costs online, according to Chunshuitang. Prices are even higher at brick-and-mortar stores. Wholesalers have been making strong profits, too.

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