Red Blind

Red Blind, also known as Plum, operates as a significant e-commerce platform in China's circular fashion market, focusing on the resale of second-hand luxury and fashion goods. The company, officially named Zhi Mei Sheng Huo (Beijing) Technology Co., Ltd., was established in 2017 by founder and CEO Xu Wei, a serial entrepreneur with a background as an investment director at Sinovation Ventures and holding degrees from Peking University and Oxford University. She is joined by co-founders Yang Bin (COO) and Pang Bo (CTO).

The firm has positioned itself within the rapidly growing second-hand luxury sector, which is projected to reach nearly CNY 3 trillion by 2025 in China. Red Blind operates primarily on a C2B2C (consumer-to-business-to-consumer) model, which manages the entire transaction process between individuals. This involves providing sellers with comprehensive services such as product collection, professional photography, warehousing, intelligent pricing, and customer service, thereby facilitating a streamlined process for converting closet items into cash. For buyers, the platform offers access to a wide array of authenticated and professionally cleaned high-end goods at more accessible price points.

Revenue is generated through the platform's role as an intermediary in these transactions. The product catalog is extensive, covering over 2,000 fashion brands across categories like handbags, apparel, jewelry, and watches. A core feature of the platform is its robust authentication process, which includes a team of experienced authenticators and a multi-step verification procedure to ensure product legitimacy. In November 2022, the company secured a significant $100 million in a Series C funding round led by the second-hand marketplace Zhuanzhuan, marking a key milestone. More recently, in September 2024, it was announced that Red Blind would be fully integrated into the Zhuanzhuan Group to create strategic synergies, although the brand and app will continue to operate independently.

Keywords: circular fashion, second-hand luxury, C2B2C e-commerce, luxury resale, consignment service, fashion marketplace, pre-owned goods, online marketplace, Xu Wei, Zhuanzhuan, China e-commerce, designer resale, sustainable fashion, apparel resale, luxury authentication, fashion consignment, Plum, Zhi Mei Sheng Huo, hongbulin, pre-owned accessories