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China: Daily Fresh confirms approval of 3.3 billion USD financing

During September of 2017, the leading online retailer, Daily Fresh, officially confirmed that they had already completed a C-level financing of 2.3 billion USD in March. This level of financing was led by capital from Tiger Global and YuanSheng: Jeneration Capital participated in joining the investment. The founder and CEO of Daily Fresh, Xu Zheng, says: "The C-level financing of funds will not only be used to set up and expand our storehouses in first, second and third tier cities, and to build up new brands or open new markets, but we also plan to invest 3 billion RMB in unmanned shop in our Easy Buy offices and to rapidly install them in 100,000 locations." 

In the past few days, the topic of unmanned sales has become a new focal point within the industry. Daily Fresh, with the view of integrating this service potential in the supply chain and obtaining long-term accumulation in its upstream activities, has also joined in the race to set up unmanned retail in their offices and have launched innovative projects. Since Easy Buy went online in June almost 2000 spots in the region of Beijing were set up, covering the complete area of office buildings. Average daily a la carte sales exceed 200 RMB. 

Daily Fresh has announced that it will invest another 3 billion RMB in their Easy Buy project. There is no doubt that this will prove to be an adequate funding for the rapid reproduction of the system. In the future, Daily Fresh plans to enter more open new grounds, drawing support from multiple satisfied high-end consumers on innovative and intelligent purchasing methods. 

The founding associate of YuanSheng capital, Peng Zhijian, states: " We have faith in the enormous potential of the online retailers. Throughout the 80's and 90's, people gradually became the main consuming force of society, so the penetration rate of online retailers is going up fast. Because of the special characteristics of online retailing, there are high requirements for its effectiveness. Daily Fresh has creatively resolved this problem by using an inexpensive method and still attaining a fast speed. They have already become an industry leader among the online retailers and we hope that they become one of the new retail tycoons." 



Publication date: 10/11/2017


 


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