Historical Market capitalization of Xi Tea financing data and Development status of Xi Tea turnover in 2020

Today, Xicha, a new tea chain, received its annual report for 2020.

In the annual report, Xicha summarizes the operation of the past year.

In stores, Xi Cha announced in early 2020 that it would open 800 stores this year. According to previous interface news reports, the number of Xi Cha stores was about 80, 163 and 390 respectively from 2017 to 2019. The average rate of 30 new stores in 2020 is nearly 5 times that in 2018 and nearly 2 times that in 2019, so has the plan to open 800 stores in 2020 been realized under the impact of repeated public health events?

According to statistics, as of December 31, 2020, Xi Cha has opened 695 stores in more than 60 cities around the world, of which 304 new stores have been opened in 2020, including 202 main stores and 102 GO stores.

Meanwhile, the report shows that Happy Tea has opened stores in 18 cities in the past year. The Top15 cities for 2020 are Shanghai, Shenzhen, Beijing, Guangzhou, Chengdu, Hangzhou, Dongguan, Chongqing, Kunming, Wuhan, Nanjing, Suzhou, Xi'an, Ningbo and Foshan. The national sales champion store of Xi Tea in 2020 is Beijing Chaoyang Dayue City Store.

Reviewing the year-end summary of Xi Cha in 2019, as of December 31, 2019, Xi Cha has opened 390 stores in 43 cities, including 157 new main stores, 63 GE stores and 220 new stores in 2019. Shenzhen is the national leader in sales of happy tea in 2019, with more than 20 million cups of happy tea sold in the whole year.

By contrast, in terms of stores, the number of Xicha stores in 2020 showed an upward trend, but lower than the planned target.

In terms of "tea-loving GO" Mini Program, "tea-loving GO" WeChat Mini Programs has more than 35 million members, including more than 13 million new members in 2020.

According to 2019 statistics, the total number of Mini Program members of "tea-loving Go" was 21.5 million at the end of 2019, while as of December 31, 2020, the number of "tea-loving GO" WeChat Mini Programs members had exceeded 35 million.

In terms of products, as a long line of online celebrity tea shops, Xi Tea has also added a lot of innovation in its products. for example, in April 2020, Xi Tea announced its entry into the field of coffee. Xi Tea was also said before: Xi Tea is not just milk tea. Xi Tea founder Nie Yunchen hopes that the brand of Xi Tea represents a kind of inspiration, Zen meaning, and a kind of younger substance of tea. Xi Tea launched its sub-brand Xi Xiaocha and Xi Xiaoju in 2020. Xi Xiaocha entered the market at a cheaper price, and the price of the drink was between 6 yuan and 16 yuan. In July of the same year, Xi Mini, a subsidiary of Xi Tea, also launched bottled sparkling water, but the business of bottled beverages was not easy. On October 15, Xi Tea "Xi Xiaocha bottling Factory" removed one of the peach oolong bubbles from the shelves. All of them were recalled and destroyed, with a cost loss of millions, and then re-adjusted before they were put on the shelves again.

In addition, 2020 Xi Tea also launched online retail business, including the opening of Tmall and JD.com channels, in which the Tmall flagship store of Xi Tea was launched in March 2020, and JD.com 's own flagship store was launched in July 2020.

In 2020, Xi Tea will launch a new product every 1.2 weeks on average, and about 43 new products will be born. Among all the products sold in 2020, the more popular products include succulent grapes, succulent manna, sesame berries, roasted black sugar bobo milk and Zhizhi peaches.

Xi Cha was founded in 2012. According to Heavenly Eye, Xi Cha has received three times of financing.

In August 2016, Xi Tea completed round A financing by IDG Capital and Today Investment, with a specific financing amount of RMB 100 million.

In April 2018, Xi Tea completed round B financing of Meituan Dragon Ball Capital and Black Ant Capital, with a specific financing amount of 400 million yuan.

In March 2020, Xicha received a new round of strategic financing, led by Hillhouse Capital and CoatueManagement (Kotu Capital). The specific amount was not disclosed, but after the completion of this C round of financing, Xicha will be valued at more than 16 billion yuan.

Today, Xicha is still in a crazy layout market, Xicha said: next, it will speed up the expansion of the number of stores, while it will also set up stores in markets such as Macau and Japan in China. As a giant in the tea industry, Xicha will also pay more attention to product innovation.

* Image source: Internet

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