Global head technology footwear brand group "Miracle Miles" announced the completion of $100 million series A financing, led by Sequoia China and IDG Capital, Star Capital as the long-term exclusive financial adviser.

Founded in New York, USA in 2019, with the brand vision of "enabling global consumers to enjoy the joy of walking" and focusing on supply chain digitization, "Miracle Miles" is committed to becoming a technology-driven footwear group. Through the establishment of a brand matrix to cover the needs of different groups, its fashion women's shoes, business men's shoes, outdoor sports shoes and other brands have steadily occupied the top position in the Best Seller list of various categories after their launch. Its business scope has covered 10+ countries in the world, serving more than 16 million users, and its brand influence is increasing.

Relevant data show that the global fashion footwear market volume exceeds 1.5 trillion US dollars, of which the footwear market is nearly 400 billion US dollars, and the footwear circuit has run out of Nike, Adidas, Belle and other footwear giants at home and abroad, and the market prospect is broad. The footwear industry has been without innovation for decades, with the continuous improvement of online penetration of footwear, as well as consumers' higher pursuit of products and brands, Allbirds, On and other emerging brands will rise, and the footwear industry will inevitably emerge a new generation of global brands.

Since its inception, "Miracle Miles" has adhered to the product-oriented brand approach and continuously improved the global user insight ability. Specifically, on the one hand, the brand emphasizes the data selection, on the other hand, it has a professional designer team and a streamlined design system, which can better grasp the fashion trend, the new speed is fast, and the success rate of explosive products is high. After the product is initially recognized by the market, the team will combine sales data and user feedback to continuously iterate and optimize the product to further enhance the consumer experience. It is worth saying that through the use of data architecture, self-built digital system, "Miracle Miles" opened up the whole link from the product development end to the sales end, and improved the efficiency of full-link management.

After the completion of this round of financing, "Miracle Miles" plans to complete the strategic layout of the global footwear market in the next 2-3 years, covering more categories, entering more countries and regions, and becoming a world-renowned technology footwear group.

Investor view

Zou Jiajia, partner of Sequoia China, and Yu Hanqing, managing director of Sequoia China, said: No matter how the market and the industry change, consumers around the world will always need cost-effective products and good services. Even far away from the mountains and oceans, consumers can also perceive the brand's intentions in customer experience and feelings. We appreciate the hard work, unwavering entrepreneurial spirit and unwavering focus on the customer experience that Brian and his team have demonstrated, and look forward to further exploring Miracle Miles' global brand journey."

IDG Capital Partners said: "We are always focused on what innovative products and services can bring consumers a better life. In partnering with Miracle Miles, we highly appreciate their original intention to provide consumers with better footwear, as well as their ability to execute quickly and iteratively based on efficient supply chains in Asia." As a world-class company for global consumers, Miracle Miles currently has excellent market share performance and is an industry leader. Look forward to growing together with Miracle Miles to help the development of the footwear market.