Text | Yao Lan
36 Krypton learned that the mid-to-high-end pet functional staple food brand ” BRIGHT Brand ” has completed the Pre-A round of financing of tens of millions of yuan, exclusively invested by the listed company Ruoyuchen . The financing in this round will be mainly used for product research and development, Supply chain system upgrades and channel expansion. In November 2021, received an angel round financing of nearly 10 million yuan led by Lin Cheng Capital.
“BRIGHT Brand” was established in March 2021. It innovates and develops high-quality pet staple food for pets’ gastrointestinal health, grooming, and body management, hoping to bring “visible nutritional changes” to pets. So far, 10 products have been launched, including three product lines: staple food dry food, staple food freeze-dried food, and staple food wet food. Among them, the star items – full-price cat staple food package soft cans and staple food freeze-dried, respectively achieved the first sales in all channels in 2022 and the first sales on Tmall Double 11. In 2022, the brand’s omni-channel GMV will be nearly 100 million yuan.
Mid-to-high-end pet functional staple food brand “BRIGHT Brand”
For a long time, the domestic pet market has been dominated by low-end products, and domestic brands have rarely made breakthroughs in the mid-to-high-end market. However, although imported brands have taken more mid-to-high-end market share, they have not yet formed a monopoly in this position. In Tmall’s “Double 11” pet brand sales list TOP20 in 2022, the number of domestic brands accounted for more than half. What is quite conspicuous is that the first and second places are both domestic brands. With the increase in the number of pet owners and the scientific concept of pet ownership, functional pet food has shown great market potential, and domestic brands with supply chain integration and upgrading capabilities will gain a competitive advantage.
“The users of mid-to-high-end brands are more sticky. Although the market threshold is high, we have the ability to do this well.” Cao Jia, founder and CEO of “BRIGHT Brand”, said that his confidence comes from the team.
36 Krypton learned that the core members of the “BRIGHT Brand” team have a background of product managers, with an average experience in the pet industry of more than 7 years. A deep understanding of pet food is conducive to the efficient collaboration of different work links. Specifically, Cao Jia once worked in 4A listed advertising companies and Internet companies. He entered the pet industry in 2016. The products he was responsible for achieved sales of hundreds of millions of yuan. The person in charge of product development and supply chain has a master’s degree in animal nutrition and has 5 years of experience. The R&D experience of pharmaceutical companies and more than ten years of pet formula R&D experience has accumulated 200+ high-quality supply chain resources; other members with master degrees in animal nutrition, veterinary medicine, and human food can help factories upgrade formulas and processes, as well as transform production lines equipment.
Since its establishment, “BRIGHT Brand” has formulated a strict new product launch process after continuous adjustments. The product development time can be as short as 6 months and as long as more than 1 year. “There is a recently launched product that took nearly two years to develop. It can only be released after passing internal and user tests in all dimensions and reaching the scores we set.” Cao Jia said.
BRIGHT Brand Soft Can Ideal Staple Package
Deeply intervening in the upstream supply chain is the key for brands to improve product quality and cost control capabilities. In May last year, Shi Lin, head of Taobao’s pet industry development and operation center, also expressed similar views in an interview with 36 Krypton. Cao Jia told 36 Krypton that with the support of “BRIGHT Brand”, the factories it cooperates with have experience in making pet food, and more importantly, they have completed the construction of the entire supply chain involving raw materials, formulas and processes. “Growing up with the factory means that we have a strong ability to control the supply chain.” In addition, “BRIGH Brand” has reached a cooperation with a staple food factory from Linyi, Shandong, which has a monthly production capacity of 1,500 Tons, mastering high-end grain production processes such as fresh meat enzymatic hydrolysis and fresh meat grouting.
Next year, “BRIGHT Brand” plans to build a nearly 1,000-square-meter pet healthy feeding laboratory. In addition to smart feeding equipment, it will also be equipped with professional pet doctors, breeders and R&D personnel. They will conduct in-depth research on pet physical conditions and Behavioral characteristics, and optimize the formula in time based on this, so as to launch differentiated products with high nutritional value.
Since the team possesses mid-to-high-end channel dealer resources, “BRIGHT Brand” decided to attack the offline battlefield first. Thanks to its excellent product strength and offline channel management capabilities, “BRIGHT Brand” quickly opened up the situation offline-in less than half a year, it expanded nearly 6,000 distribution channels, covering a total of 4,000+ high-quality stores. Up to now, the monthly performance growth rate of offline channels has exceeded 40%.
In 2022, “BRIGHT Brand” will start to go online, with Tmall and Douyin as the main positions. Among them, the Tmall platform accounts for about 60% of the online channels, and the Douyin platform is not active. Still got good results. It is worth mentioning that, with good product experience and refined operation, the private domain repurchase rate of “BRIGHT Brand” has reached over 80%, while the industry average is about 50%.
BRIGHT brand full price cat food
Due to its positioning as a mid-to-high-end brand, “BRIGHT Brand” mainly outputs popular science content and cooperates with vertical KOLs, hoping to enhance the professionalism of the brand.
Next, “BRIGHT Brand” will continue to polish products, improve the supply chain system, and enhance global operation capabilities, so as to win users’ recognition of domestic brands with a good user experience.
Ruoyuchen officially stated that the company will help “BRIGHT Brand” build a rapid development channel based on full-link service capabilities, and work together to deepen the Chinese pet market.
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