爱游戏

The baby health food brand “Baobaochanle” has completed over 100 million RMB A and A+ rounds of financing, with exclusive investment by Tiantu Capital. It is reported that the financing funds will be mainly used for supply chain transformation, brand building and other aspects.

Chen Sheng, co-founder of “Baobaochanle”, introduced that around 2016, many influential KOLs emerged in the mother and baby industry, such as Nian Gao Mama and Ding Xiang Mama, and the knowledge of scientific feeding was effectively popularized. Scientific and refined feeding has become a trend, but the market lacks corresponding products to undertake the demand, so the team established Baobaochanle at the end of 2016, wanting to provide scientific, nutritious and delicious baby meals for babies aged half to three years old.

It is reported that in 2020, the company’s performance has grown significantly, and now the monthly sales of the whole network has nearly 100 million RMB, compared to 2019 year-on-year growth of more than 30 times. 2020 Double Eleven, Baobaochanle became the first brand in the category of “baby supplement snacks” on Tmall.

Initially, the main focus of Baobaochanle was on healthy ingredients, and mothers needed to make them themselves after buying them at home. However, the team realized that the time cost was high and the output was unstable, so they decided to switch to more convenient ready-to-eat products and launched the first ready-to-eat product, seaweed, in September 2018.

Chen Sheng said that this batch of seaweed produced the first wave of repurchase within 3-7 days, and the user feedback was very good. After that, Baobaochanle continues to develop food that is suitable for Chinese babies’ physique, nutritious and delicious, which can be roughly divided into three categories: ingredients, snacks and condiments, and currently has more than 40 SKUs, including children's fresh shrimp chips, teething strawberry cookies, small shrimp mix, shrimp mushroom powder, etc.

The supply chain is a difficult point in the early stage. Instead of using the labeling method, Baobaochanle is directly involved in research and development. However, the supply chain in China is not mature in scientific feeding food, and there are not many factories willing to try. From concept design and product development to raw material selection and process transformation, each step has a high threshold, which makes Baobaochanle a unique competitiveness at the product level.

Now Baobaochanle has established its own food lab and cooperated with more than 30 factories. It is an online channel, with the Tmall flagship store being the main one at present. The baby food is made with natural ingredients and no chemical additives. Every month, 3-5 new products will be launched, and the research and development cycle of a new product is more than half a year.

Compared with Europe and the United States, China’s baby health food market is still at an early stage. If we look at the more segmented supplementary food category, the market size of China’s infant supplementary food market was only 3.5 billion RMB in 2008, and is expected to grow to 20 billion in 2020, but the penetration rate is still less than 20%.

Against this background, Tiantu has continuously and exclusively invested in Baobaochanle, which also enjoyed explosive growth in 2020. Chen Sheng believes that this is a natural result reached by the company after years of accumulation - team capability, product capability, user accumulation, industry awareness and other dimensions have broken through a critical point.

Different from other food fields, the mother and baby food industry places more emphasis on trusting relationships, as users will also have a high level of stickiness. According to the introduction, the average customer unit price of Baobaochanle is around 300 RMB, and the 30-day repurchase rate reaches 50%.

The team said that after this round of financing, the company will continue to increase the innovation and supervision on the product side to provide better products for the mothers. At the same time, the company will set up its own offline team in 2021 to expand the channel to offline.

The company is headquartered in Hangzhou and has a team of more than 400 people.

 

Source: 36Kr.com