A Milan Fashion Week label ended as a ¥200 Douyin clearance sale — 罗拉密码 closed in 2024

Lora Password (罗拉密码) began as the opposite of a clearance brand: designer Wang Shanshan, a 15-year industry veteran, founded the label in Hong Kong in 2016, set up Shenzhen Lora Fashion Group in December 2016 for mid-to-high-end original women's wear, and showed at Milan Fashion Week in 2017. She joined Douyin in 2018 and began livestream selling in May 2020, riding the platform's traffic dividend to 5 million followers and a Top-5 ranking in women's clothing store sales, with yearly revenue its promoters put in the billions of yuan.

The volume came at mass-market prices — an average of around ¥200 per item — which put the brand in the dead zone between designer positioning and budget labels. Livestream economics then turned hostile: women's wear return rates in livestream commerce ran 50–80% against industry averages of 30–50%, shipping-insurance and traffic-acquisition costs kept rising, copycat sellers listed cheaper lookalikes within a week of any hit, and in 2024 the platforms cancelled the 618 pre-sale system that had let sellers defer production risk.

The exit was abrupt and quiet. The final livestream, a 'countdown clearance' billed as a farewell, ran on May 30–31, 2024 for more than nine hours but took only a few million yuan. The brand announced it was stopping, the product showcase was cleared, and the account was renamed 凯撒 and handed to her husband, the label's quality-control operator, for women's wear, skincare and daily goods.