Text | Dong Chailing
36 Krypton learned that Guangdong Pinzhen Fresh Living Technology Co., Ltd. (hereinafter referred to as Pinzhen Technology) has recently completed a Pre-A round of financing of tens of millions of yuan. Investment, and Sublime Capital acted as the exclusive financial advisor. It is understood that this round of financing will be mainly used for product research and development, brand upgrade and marketing of the “Yuxianfeng” series of pre-made vegetables under Pinzhen Technology.
Founded in 2018, Pinzhen Technology is a new consumer brand company focusing on pre-made vegetable products. Aiming at young people, the company will launch the “Yu Xian Feng” series of pre-made dishes in 2020. The purpose is to provide consumers with a convenient and fast DIY process of Internet celebrity food and dining fun with professional taste reproduction capabilities, breaking the restaurant-level dishes. Scenario limitations.
With a compound growth rate of 30% per year, China’s prepared vegetable market is growing into a trillion-scale market. Currently, pre-made dishes on the market can be mainly divided into several categories: instant hot, instant cooking, instant mixing, and instant eating. Taste innovation, convenience and quality have become the considerations for consumers.
According to respondents
“Yuxianfeng” currently launched pre-made dishes such as crayfish, sauerkraut fish, fish maw chicken, and the world’s one pot (Poncho). Among them, the super single product “Crayfish Tail” will set a record of 16 million sales per item on the “818” e-commerce festival on the Tmall platform in 2022; 618″ JD.com ranked TOP1 in terms of fish sales.
According to respondents
In terms of product selection, “Yuxianfeng” mainly selects products through market data, catering data and user portraits, combined with big data. Including obtaining the sales and pricing of the pre-prepared vegetable industry in the market, collecting evaluation data of the catering industry, monitoring the latest and hottest online red dishes and popular dishes data, and determining the age group and hobbies of the corresponding crowd, etc.
In order to improve its core competitiveness, Pinzhen Technology has strengthened supply chain construction and established 12 warehousing outlets across the country to quickly respond to the consumer market. The product selection team controls from the source of the supply chain, forming a strategic layout with Foshan as the main warehouse and cloud warehouses in 11 cities in Guangzhou, Beijing and Shanghai. In addition, from the perspective of logistics cost, “Yixianfeng” has strategically cooperated with large logistics enterprises to achieve the lowest logistics cost in the industry and shorten the delivery time.
In terms of online channels, “Yuxianfeng” has successively entered top e-commerce platforms such as Tmall and JD.com, and cooperated with short video platforms such as Douyin and Kuaishou. As for the offline layout, “Yuxianfeng” currently has settled in more than 400 stores of offline new retail, KA chain and other supermarket brands, and has built an online-to-offline nationwide channel market.
According to respondents
The founder and CEO of the brand, Ms. Chen Cuiying, said that as a C-end brand, the company launched “home-cooked dishes” and “home-cooked dishes” with the target customers of young people under the “lazy economy”, urban white-collar workers under the high pace of life and small families. “Restaurant Cuisine” two product lines are diversified family meals to meet the needs of different consumers.
Occupying market segments with popular products, “Yuxianfeng” has achieved rapid sales growth. Chen Cuiying revealed that the company’s turnover is expected to reach 500 million by the end of 2023, and will carry out diversified development with “big health” and “functionality” as the core for the cross-border development of pre-made dishes in the future.
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