How Does This Financing Fit the Wider Coffee and Tea Market?

Chinese tea brand Jasmine Naibai completed nearly 100 million yuan in financing led by Alibaba Local Life, with Xiangyang Capital as exclusive financial advisor. The funds will go to product research and development, brand building, supply chain upgrades and team growth. The company, founded in May 2020, now runs 785 stores and expects to pass 1,000 by year end.

Jasmine Naibai opened its first Shenzhen store in 2021 and built its identity around floral fresh milk tea, starting with Jasmine Longya and expanding into Gardenia, White Orchid and Osmanthus series. Revenue growth has reached nearly 400%, and the brand has opened first stores in New York and Bangkok to promote Eastern tea culture abroad.

Recently, the new Chinese-style tea beverage brand Jasmine Naibai announced that it has secured nearly 100 million yuan in financing led by Alibaba Local Life, with Xiangyang Capital serving as the exclusive financial advisor. This round of funding will be directed toward product research and development, brand building, supply chain upgrades, and team expansion, while further empowering franchise partners and continuously refining its lightweight model. Since its founding in 2020, Jasmine Naibai started with Jasmine Longya and has focused on the floral fresh milk tea segment, launching series such as Gardenia, White Orchid, and Osmanthus. It now has 785 stores nationwide, with revenue growth of nearly 400%, and is expected to surpass 1,000 stores by the end of the year. The brand is also expanding overseas, having opened its first stores in New York and Bangkok, promoting Eastern tea culture to the world.

According to media reports, the new Chinese-style tea beverage brand Jasmine Naibai recently completed nearly 100 million yuan in financing, led by Alibaba Local Life, with Xiangyang Capital serving as the exclusive financial advisor.

It is understood that this funding will focus on product research and development, brand investment, supply chain enhancement, and team building, while also providing support to franchise partners and continuously developing a lightweight model.

Jasmine Naibai was founded in May 2020 and opened its first store in Shenzhen in 2021. The first tea beverage product launched at opening was Jasmine Naibai. This signature drink uses selected Jasmine Longya as its tea base, infused with fresh floral fragrance, marking Jasmine Naibai as the first new tea beverage chain brand focused on the jasmine category and specializing in floral fresh milk tea.

In addition, as the first freshly made tea beverage brand focused on floral fragrances, Jasmine Naibai takes jasmine as its starting point and has successively developed floral product series such as Gardenia, White Orchid, and Osmanthus, forming a distinctive product identity.

Jasmine Naibai founder Zhang Bocheng is a serial entrepreneur involved in Chinese cuisine, baking, and beverages, and can be described as a veteran restaurateur with decades of experience. In an interview with a 36Kr reporter, Zhang Bocheng shared the journey behind founding Jasmine Naibai.

He believed that fresh milk tea would become mainstream, and that jasmine tea was the most widely used and most commonly recognized type in freshly made tea beverages. However, at the time, there was no brand in the market specializing in jasmine tea beverages, so he decided that Jasmine Naibai would focus on "Chinese tea" and "jasmine fragrance."

As a result, Jasmine Naibai differentiated itself with the positioning of "Eastern fragrance-chasing new tea beverage," using the four white flowers of the East as its core to create a series of uniquely distinctive floral fresh milk tea products. It also communicated to the public the brand philosophy of "easily enjoy good tea" and "see jasmine, feel joy," making Eastern tea culture part of daily life and showcasing the brand's unique value through an "Eastern modern" expression.

In recent years, new tea beverages have become a hot topic. In addition to established fruit tea players like Heytea and Guming making constant moves, even coffee giants such as Luckin and Starbucks have entered the fresh milk tea business.

Recently, Jasmine Naibai has rapidly increased brand traffic and optimized its cost structure by actively promoting a lightweight model, creating store profit space, pursuing growth, and pursuing net profit in response to the current fierce competition in the tea beverage market. Compared with opening stores of more than 60 square meters in first-tier commercial districts in the past, the brand has adjusted its strategy and introduced a 35-40 square meter lightweight model to reduce investment costs and shorten the payback period.

It is understood that as of now, Jasmine Naibai has opened 785 stores nationwide, with revenue growth of nearly 400%, and is expected to surpass 1,000 stores by the end of the year. Internationally, Jasmine Naibai has opened its first stores in New York and Bangkok. With the continued cultivation of overseas stores, it demonstrates its potential for global expansion. The brand hopes that through a global layout, more young people will come into contact with and love Chinese tea, promoting Eastern tea culture to the world.

Regarding the news of its participation in Jasmine Naibai's financing, Ele.me responded to media reporters: "Advancing together with the ecosystem" is Ele.me's long-term and firm mission and vision. Ele.me insists on growing together with brand merchants and becoming better together.

Image source: Internet

The above content is compiled by CoffeeHunters, a coffee news website.