Editor: Yuan Ling
36 Krypton has learned that the Chinese baking brand full of yuan qi date cake has received 3 million dollars of Matrix Partners' A round of financing, this round of financing is mainly used for brand upgrading for customer experience and product quality, as well as expanding the store program.
Founded in 2017, Full of Yuanqi is a Chinese bakery brand that focuses on date cake products. At the beginning of its establishment, it received strategic investment from Xibei Restaurant Group, and is now deeply bound to Xibei in supply chain and other aspects.
According to the forecast of China Bakers Consumer Association, the sales revenue of China's bakery industry is expected to reach 550 billion yuan in 2020, and the compound annual growth rate of the bakery industry can reach 45% by 2025.The 100 billion market corresponds to an extremely decentralized market pattern, and the market share of the top 5 domestic enterprises is only 10.4%, whereas this figure of Japan's bakery industry reaches On the other hand, Western-style bakery dominates the market, with a market share of more than 90%, and includes famous bakery brands such as Holliday, Ajinomoto, etc. In contrast, Chinese-style bakery dominates the market, with a market share of more than 90%. In contrast, Chinese bakery is labeled as traditional and lacks branded products catering to the consumption needs of young people.
Han Lida, the founder of Full of Yuanqi, believes that the industry's low concentration and the demand for upgrading Chinese bakery is the opportunity for Full of Yuanqi's development.
The brand positioning of Man Man is "healthy and delicious", and the core customer groups include white-collar workers and mothers. The product line includes jujube cake, cake, Chinese pastry and tea (tea series is still in the pre-testing stage), the company in addition to the cake product SKU stabilized at about 20, jujube cake is the main product.
Full of Energy Date Cake
In terms of channels, Maman has opened 40 offline directly-managed stores in Beijing and Shanghai, and the locations of the stores are mainly set in A/B type shopping malls and boutique supermarkets. Each store has an area of about 15-20 square meters, and its products are mainly for takeaway consumption. Online in addition to access to mainstream takeaway platform, full of its own WeChat mall, its annual sales accounted for 10% of the overall sales.
Full of Yuanqi hopes to rejuvenate and brand Chinese bakery. Product design, based on consumer research, based on consumer feedback selected 20 SKUs to form the final product line; raw material selection, through Xibei's supply chain resources to reach the national high-quality raw materials origin, the source of quality control; product turnover, the strict implementation of the system of freshly baked ready-to-sell, all the products for sale are made the same day, and the single-store loss rate is controlled within 3%.
Man-Man Cartoon Buns
Currently full of has realized a single store profit, expanding the store plan will not simply pursue the number of expansion, but based on the situation of existing stores and the supply of high-quality location comprehensive development of the store opening plan.
In addition, in addition to the first-tier cities, Maman will gradually penetrate the second and third-tier cities to achieve the coverage of different circles of consumers.
Founder Han Lida emphasized that the vision of Full of Yuanqi is to build the first brand of new Chinese baking. Through product development and supply chain advantages, we provide consumers with delicious and healthy Chinese bakery products, and continue to optimize the brand tone and store experience to enhance user stickiness.
Bread and other baked goods are gradually evolving from affiliated low-frequency side dishes to high-frequency, high unit price of the new scene of the evolution of the product, Nesco's tea, tea and other tea brands have launched baked products to expand the consumer scene. Along with the industry upgrading demand and branding business trend, full of yuan qi date cake clear its own "healthy and delicious" positioning, which represents the branding road of Chinese baking is worth looking forward to.
Photo credit: Pexels
