How is the pet market in China

Chinese millennial lifestyle brand for pet supplies closes Series B financing with ClearVue Partners

SHANGHAI, April 23 / PRNewswire / - -ClearVue Partners ("ClearVue"), a consumer-focused private equity fund, announced the successful completion of a $ 20 million Series B financing for VETRESKA as the main investor. The funding will accelerate VETRESKA's growth and encourage both branding and international market expansion.

Founded in 2017, VETRESKA is a leading pet lifestyle brand targeting Millennial and Gen Z generations of consumers in China. Thanks to the management team's extensive experience in product design, branding and distribution network, VETRESKA has achieved remarkable sales growth and an outstanding, leading position in the fast growing Chinese pet supplies market over the past two years. It is estimated that the pet industry in China will grow from USD 30 billion to USD 67 billion over the next 5 years. VETRESKA has successfully built an extensive sales network with over 40,000 pet stores in 33 provinces across China and has become one of the most affordable pet supplies brands for young Chinese people.

Donald Kng, Founder of VETRESKA and Winner of Forbes Asia 30 under 30, stated, "The Chinese pet supplies market has grown exponentially over the past decade and offers a great market opportunity for a great brand to develop through unique and fun designs in Animal products that appeal to the emotional side of young pet owners, we are confident that our innovation, accessible distribution and consumer-oriented value system will bring us significant competitive advantages in the future. With the support of our partners at ClearVue, we can expand our network in global markets and Strive for crossover partnerships with well-known consumer brands. "

"We are very excited about the consumer story in China, one of the most important investment themes in the world for the next decade," said William Chen, Founding Partner and Managing Director of ClearVue. "With its unique product innovation capabilities and global vision, VETRESKA is undoubtedly a pioneer and industry leader in an era when more and more people have pets. With ClearVue's expertise and unparalleled branding experience, we will help VETRESKA do this to accelerate its growth and seize the great opportunity in China for leading domestic brands. "

Since its inception in 2012, ClearVue has focused on consumption growth in China, with a particular interest in seeing companies take advantage of the consumption growth in the country, particularly lifestyle, health and wellness and digital products companies.

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Lorena Xu
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