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Draft:Vetreska

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Vetreska a privately owned pet lifestyle company based in Singapore. Founded in 2017 by Donald Kng and Nico Li, the company specializes in designing and marketing pet products.

History

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Vetreska was founded in 2017 in New York City by Donald Kng and Nico Li, who met at the Fashion Institute of Technology.[1][2] Recognizing a growing market among young single women in China who owned cats, the founders aimed to create pet products that catered to this demographic.[1][3] Some of their hero products include watermelon-shaped toilets, soil-free cat grass, and a bubble pet carrier.[4][5] Vetreska is a subsidiary of V-Holdings, which also owns GIMMO!, a pet food line.[1]

The name is derived from the names of the founders' three adopted cats: Verty, Tresco, and Mischka.[1] With an in-house team of designers, the company focuses on integrating fashion elements into pet accessories.[6] Their cactus-shaped cat scratcher became one of their best-selling items, known for blending functionality with aesthetics.[3]

Expansion and funding

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Headquartered in Singapore, Vetreska has expanded its global reach, selling products through approximately 60 distributors and 40,000 retailers in over 20 markets.[1] The company has grown beyond the United States and Singapore, expanding into Canada, Japan, South Korea, New Zealand, and South America.[7][8] Their products are also available on e-commerce sites such as Amazon and Alibaba.[7]

In 2017, Vetreska received Angel Funding from Galileo Venture and Hejun Capital,[9] followed by:

  • Series A funding from IDG Capital [9]
  • Series A+ funding from SIG LLP [10]

The company continued to grow in 2019, earning US$30 million with a profit of US$2 million.[7] Between 2021 and June 2022, the company completed three rounds of funding, raising over US$20 million[11]:

  • Series B+ invested by Bojia Capital[6]
  • Series B2 fully subscribed by ClearVue Partners
  • Series B3 led by Altrui Investment

In 2022, Vetreska received a US$50 million investment from Quest FoF.[6]

As of June 2022, the company reportedly earned over S$166 million in revenue.[12] The joint-venture enabled Vetreska to split its pet supplies and pet food businesses into two separate entities.[13]

In 2024, Vetreska opened its first store and grooming center, Fur, at One Holland Village in Singapore, a pet-friendly shopping mall.[14][15] FUR offers grooming, spa, and wellness treatments, and retails accessories, toys, and grooming products for pets.

Collaborations and Recognitions

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Vetreska has collaborated with notable brands and institutions:

  • Partnered with KFC in Mainland China for special promotions and products
  • Partnered with KFC in Mainland China for special promotions and products[16][8]
  • Collaborated with the MoMA Design Store on the "Modern Pets" event, showcasing pet accessories in New York, USA and their online stores[16][17]
  • Worked with Pizza Hut in Mainland China to recruit pet “branch managers”[18] and on other co-branded activations and products[19]
  • Worked with InterContinental (IHG Hotels & Resorts) in Mainland China to provide pet-friendly hotel amenities[6]
  • Announced Chinese singer Luhan as a global brand ambassador in 2021[20][21]
  • Collaborated with a coffee brand, Manner, in Mainland China on a pet-friendly pop-up store and cafe[22]
  • Worked with Disney Pixar to release a line of products in Greater China[8]

References

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  1. ^ a b c d e "Vetreska Flies The Singapore Flag In Pet Products". a+ Singapore. Retrieved 2024-12-04.
  2. ^ "VETRESKA Story | Where Imagination Meets Pet Companionship". VETRESKA Official. Retrieved 2024-12-04.
  3. ^ a b Florene, Ursula (2020-07-14). "Vetreska is bringing fashionable goods for your pets: Startup Stories". KrASIA. Retrieved 2024-12-04.
  4. ^ "Vetreska". Forbes. Retrieved 2024-12-04.
  5. ^ Vanderhoydonck, Philippe (2022-10-21). "Singaporean subsidiary of Chinese pet lifestyle brand raises $50 million". GlobalPETS. Retrieved 2024-12-04.
  6. ^ a b c d Sivakumar, Yoganeetha (2022-10-28). "S'pore-based Vetreska subsidiary raises US$50M, will fully manage company's pet food business". Vulcan Post. Retrieved 2024-12-04.
  7. ^ a b c "Luxury cat food maker Vetreska gets US$20M financing". PetfoodIndustry. 2021-01-11. Retrieved 2024-12-04.
  8. ^ a b c "How luxury pet brand Vetreska by Singaporean Donald Kng built an international following". CNA Luxury. Retrieved 2024-12-04.
  9. ^ a b FinSMEs (2022-10-26). "Vetreska Future Pet Food Raises US$50M in Funding". FinSMEs. Retrieved 2024-12-04.
  10. ^ "36氪首发 | 宠物生活方式品牌「未卡 Vetreska」获 600 万美元 A+ 轮融资，由 SIG 独家投资-36氪". 36kr.com. 2024-12-04. Retrieved 2024-12-04.
  11. ^ Vanderhoydonck, Philippe (2022-10-21). "Singaporean subsidiary of Chinese pet lifestyle brand raises $50 million". GlobalPETS. Retrieved 2024-12-04.
  12. ^ Han, Sherry (2022-06-23). "From China to S'pore: This duo built a luxury pet brand that has earned over S$166M in revenue". Vulcan Post. Retrieved 2024-12-04.
  13. ^ "VETRESKA Singapore-based Subsidiary Raises US$50 Million To Streamline Business, Business Wires News". AsiaOne. 2022.{{cite web}}: CS1 maint: url-status (link)
  14. ^ "VETRESKA Unveils FUR: The Pinnacle of Luxury Pet Care in Its First Flagship Store in Singapore". Yahoo! Finance. 2024.
  15. ^ Reporter, Staff (2024-02-05). "Vetreska expands FUR store in Singapore | Retail Asia". retailasia.com. Retrieved 2024-12-04.
  16. ^ a b 商讯 (2023-08-28). "未卡VETRESKA：全球业务蓬勃发展，与MoMA共创宠物与艺术新纪元，亚太市场迈向新里程". news.sina.com.cn. Retrieved 2024-12-04.
  17. ^ "MoMA Has the Pop-Up Store of Your Artsy Pet Parent Dreams". www.kinship.com. Retrieved 2024-12-04.
  18. ^ Team, Dao (2024-06-13). "Cranking cats? Taobao hires feline ambassador for 1.02 million RMB". Dao Insights. Retrieved 2024-12-04.
  19. ^ "必胜客给猫猫狗狗们发 offer 啦！ | SocialBeta". socialbeta.com. Retrieved 2024-12-04.
  20. ^ "官宣鹿晗成为品牌全球代言人，未卡开启「品牌元年」｜品牌星球专访". Brandstar. 2021.
  21. ^ "国内新锐宠物生活方式品牌未卡Vetreska重磅官宣 鹿晗成其品牌全球代言人". 环球网 (in Chinese (China)). Retrieved 2024-12-04.
  22. ^ "创立至今拿下9轮千万融资，宠物品牌未卡VETRESKA为何如此受资本青睐？". news.winshang.com. Retrieved 2024-12-04.
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