Every day can not leave the hand in addition to the mobile phone, and close to the palm of the mobile phone shell. The low price and beautiful design are the reasons behind the rapid replacement of mobile phone cases by consumers. Is there a market opportunity for the "high-end brand" phone case with more than 300 yuan?

According to C Capital news, recently the fashion accessories brand CASETiFY received tens of millions of dollars of financing from C Capital. It is also the first time the brand has received outside investment since its inception in 2011. CASETiFY's funding will be used to accelerate sales growth, expand its global retail network and fund potential acquisitions.

According to public information, CASETiFY is a mobile phone case brand founded by Wu Peishen and Yang Ziye in Hong Kong in 2011. With a design background, Wu Peishen is a true "fruit fan". When the iPhone 4 was just released, he judged that Apple mobile phones would be sold for a long time, and on this premise, he chose the mobile phone case, which was not yet deeply cultivated market, as the entrepreneurial track.

At first, CASETiFY was primarily a case customization service for users of Instagram, a photo-social app that allows users to put photos on their phone cases. But in fact, due to the lack of seed users, the aforementioned business started for a long time before it began to obtain orders. CASETiFY didn't really take off on the Internet until celebrities like Lionel Messi and model Kylie Jenner started sharing it on Instagram.

Image credit: CASETiFY

Beyond customization, CASETiFY has expanded its reach further in recent years by co-branding with different ips.

Mobile phone cases have a high frequency of new and highly malleable nature, which makes brands have almost no limits in terms of co-branding: from logistics company DHL, South Korean star group BTS, to the NBA, Disney, clothing brand Sacai, watch brand G-SHOCK...... CASETiFY has partnered with dozens of brands and ips to date.

Image credit: CASETiFY

CASETiFY's product line has gradually become more extensive. Now, in addition to CASETiFY as the main category of mobile phone cases, CASETiFY also sells AirPods, iPad, Macbook, Switch and other electronic products, as well as Apple Watch bands, mobile phone holders and other electronic accessories.

In addition to the appeal of original and co-branded designs, CASETiFY's selling point is the quality of its products. According to C Capital, the brand's above-market price is due to additional investment in research and development and material costs. For example, the iPhone11 phone case uses a material called Qitech, even if dropped from a height of 3 meters, the phone will not break.

All in all, CASETiFY is trying to build a fashion accessory brand, not just to increase sales.

Opening offline retail stores is the most basic way to build a brand image. In 2020, CASETiFY opened its first Hong Kong store, "CASETiFY Museum," at K11 Museum, owned by C Capital founder Joseph Cheng. The brand currently has seven stores in Hong Kong and Japan. Judging from the pictures on the official website, the store display has many similarities with the technological space of Apple stores.

In addition, Cheng will serve as a cultural ambassador for CASETiFY. Its industry reach and connections will help CASETiFY build brand influence.

Image credit: CASETiFY

Another significance of CASETiFY's partnership with C Capital is to prepare for the development of the Chinese mainland market.

Currently, the United States and Japan are CASETiFY's top two major markets. While CASETiFY has yet to enter the mainland market, the brand has seen a sharp increase in the number of cases purchased by mainland customers over the past two years, according to C Capital. Moreover, C Capital will use its industrial resources to help CASETiFY expand its business in the mainland.

However, CASETiFY has to face the differences between mainland consumers' preferences for phone cases and its brand positioning, and adapt to the market environment.

First, on the price front, CASETiFY, priced at 350 Hong Kong dollars, or about $10, will need to convince mainland consumers accustomed to paying tens or even tens of yuan for phone cases online to accept its high price.

In terms of adaptation, CASETiFY's focus on a single electronic brand will also hinder its expansion into the market. According to CASETiFY's website, in addition to Apple, a separate column of Android cases only lists Samsung brands. If CASETiFY does not expand its product line to other brands, it will directly miss out on users of local mobile phone brands such as Huawei and Xiaomi in the mainland market.