Pane, the Chinese footwear brand known for low-top derby sneakers, has received a fresh round of funding from BA Capital, a Shanghai-based venture capital fund focused on retail investments.
The news was first reported by an independent retail journalist named Yvonne Yao. Yao noted in a WeChat post that the funding — for an undisclosed amount — was completed in August.
According to the company profile app Qichacha, David He Yu, founder of BA Capital, was named Pane’s company director on Aug. 19.
You May Also Like
A spokesperson for Pane declined to comment and BA Capital has not responded to WWD’s request for comment.
Pane, founded in 2022 in Shanghai, is known for its savvy retail strategy that captured global attention and spending.
In 2025, Pane’s annual gross merchandise volume broke the 100 million renminbi, or $14.9 million, mark on Tmall, according to local media reports.
The brand, with sneakers priced around 800 renminbi, or $117, is known for its retail design that brings old-school American sporting culture to the fore. Ancient Greek figures adorn the store interior, as well as shoe insoles, alongside a small tag line that reads “Behave as mortals.”
The brand quickly gained global attention with an Instagram push almost a year ago. The brand is preparing its global expansion first with an outlet in Thailand, followed by Europe.
For local fans, Pane has become somewhat of a “Shanghai souvenir,” with its two local stores regularly drawing lines outside and even attracting tourism shuttles packed with shoppers.
Pane currently has eight directly owned stores across six cities, including Shanghai, Beijing, Shenzhen, Guangzhou, Shenyang and Hangzhou.
According to local media reports, Pane was initially founded by Chen Ning as a passion project. Before Pane, Chen was the founder of a local menswear label called Full Monty. Pane’e group of co-creators includes Gao Tian, an alumni of the local menswear brand Staffonly who will make a rare public appearance at a Chanel Le19M exhibition panel talk in October.
BA Capital, established in 2016, is also an investor in popular consumer brands such as Pop Mart and Brompton. The firm was a lead investor in Laopu Gold’s pre-IPO funding round.
