Editor Qiao Qian
36Kr learned from many insiders that the tea chain brand Mi Xue Bing Cheng is about to complete a new round of financing, and the investors are Gaoyao Capital and Dragon Ball Capital under Meituan. After this round of financing, the post-investment valuation of Mixue Ice City is about 20 billion RMB.
36Kr asked Mi Xue Ice City for verification, and the other party responded, "It's not true. I have not received relevant information for the time being. "
According to informed sources, Mi Xue Ice City plans to raise1-200 million yuan this round. In addition, 36Kr learned that Mixue Ice City is also preparing for listing at the same time, and brokers have already entered the market. This round of financing may be the last round of financing before the IPO of Mixue Ice City.
Headquartered in Zhengzhou, Mi Xue Ice City has been established for more than ten years, and its products include milk tea, fruit tea, ice cream and other categories, among which there are many best-selling explosive products such as iced lemonade, skyscraper crisp ice cream, milkshake milkshake and full cup of passion fruit. Honey Snow Ice City focuses on the sinking market, and the product prices are mostly below 10 yuan. The target users are young consumer groups represented by college students, and the stores are mainly opened around universities, pedestrian streets and shopping malls.
It is reported that the brand of Mi Xue Bing Cheng is served by three major companies, and Zhengzhou Cross-Strait Enterprise Management Co., Ltd. takes the lead in management and operation; Henan daka food co., ltd. leads R&D and production; Zhengzhou Bao Dao Trading Co., Ltd. provides warehousing and logistics services. Tianyancha APP shows that founder Zhang Hongchao and president Zhang Hongfu hold 47.53% and 47.53% shares of Zhengzhou Cross-Strait Enterprise Management Co., Ltd. respectively.
According to informed sources close to Honey Snow Ice City, the revenue of Honey Snow Ice City 20 19 is about 6 billion yuan and the net profit is about 800 million yuan. As a ten thousand-store-scale tea chain brand, the income of Mixue Ice City mainly comes from the material fee charged to franchisees, that is, the supply chain fee, and the franchise fee accounts for a small proportion of the total income. This year, Mixue Ice City announced that the number of stores nationwide exceeded 1 10,000, making it the largest tea chain brand in China.
How did Mi Xue grow into a sinking giant in the milk tea industry? 36Kr did it. To sum up, Mi Xue Ice City successfully grasped the demand for upgrading from bottled drinks to ready-made drinks more than ten years ago, and launched ultra-low-priced explosive drinks at the price of 10 yuan, which was quickly replicated with the help of the joining model. The low-price strategy made Mi Xue's franchise stores sink to counties and towns. In addition to the regular location of tea brands around shopping malls, office areas and schools, Michelle's location also includes communities, streets and urban-rural fringe.
With the gradual expansion of scale, Michelle continues to invest in supply chain, warehousing and logistics and store management to further strengthen her advantages. Although the price of a single cup of rice snow is basically below 10 yuan, relying on the advantages of upstream supply chain and relatively simple raw materials, the cost of a single cup can be kept at 2-5 yuan. According to official website of Mi Xue Ice City, the gross profit margin of its products is basically around 50%.
Recently, the capital action of milk tea industry has been constant. Recently, the market news pointed out that the tea of Xicha and Naixue is planned to be listed in Hong Kong before the end of 20021. Although they are all representative brands in the milk tea industry, the biggest difference of Mi Xue Bing Cheng lies in its main attack on the sinking market.
In fact, the first-and second-tier catering markets have been very popular this year. According to the data of wind platform, as of September 29th, Shenwan Food and Beverage Index rose by 46.89% in the past six months. The beverage industry sector is particularly active, and the valuation is also rising all the way. In addition to Mixue Ice City, 36Kr reported in July that the latest valuation of Yuan Zhong Forest reached nearly $2 billion. In September, Nongfu Spring, a leading packaged water and beverage enterprise, also landed on the Hong Kong Stock Exchange, raising over HK$ 865.438 billion and becoming the "frozen king" of Hong Kong stocks.
Affected by the epidemic, the investment and financing of catering industry has a hot trend this year, and head projects have been financed. Before this round of financing in Mixue Ice City, Gu Ming, a tea brand with more than 3,000 stores and also rooted in the sinking beverage market, completed strategic financing in July this year and was blessed by China of Sequoia Capital and Dragon Ball Capital of Meituan.
The competition in the offline beverage market is becoming increasingly fierce, and it is gradually jumping out of the context of a single product and channel and exploring in the direction of multiple categories.
The popular tea market infiltrated by Mi Xue Ice City, as well as CoCo Coco and Little Bit, are closely followed by thousands of tea chain brands. In addition, Cao He opened up the direction of snacks and tea in the higher price range of 10~20 yuan respectively.
New tea brands, such as Hi Tea and Naixue Tea, also extend to baking, coffee, snacks, soft drinks and other categories on the basis of new tea. Xicha also launched the "Xiao Xi Tea" sub-brand this year; In addition, traditional FMCG brands are also planning to enter the offline. Wahaha opened a brand milk tea shop in Changsha in September this year, and Xiangpiaopiao also said that he would open an offline store to "test the water".
In fact, in addition to the main brand, Mi Xue Bing City also launched the sub-brand "Lucky Coffee" of ground coffee on 20 17, and opened a brand-new image shop in Zhengzhou this year, selling coffee and related products such as classic coffee, flavored latte, flavored tea, ice cream snacks, etc. The price of a single cup of lucky coffee is 5 yuan, and the overall price of the product is in the range of 5 yuan ~ 10 yuan, which is the same as that of Mi Xue. However, at present, the sub-brand of Lucky Coffee is still in the initial exploration stage.