With 137 investments in 7 years, Tang Binsen is mass producing “Yuanqi forest”

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wide spread network, Tang Binsen at the same time layout of several 10 billion, 100 billion scale track, he intends to in each category, mass production of the next vitality forest.
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“In a good industry, you have ranked 100, 10 and 20, which is better than being the first in a bad industry.” Tang Binsen, founder of Yuanqi forest, once said.

 
There is no doubt that “water” is a good business. The latest round valuation of Yuanqi forest has reached US $6 billion. This new brand, which has been established for only five years, has been benchmarking Coca Cola from the beginning. As a challenger, it has set off a frenzy of Zero sugar, zero calorie and zero fat on the trillion beverage track, redefining “bubble water”.

 
But Tang Binsen doesn’t stop in the forest of vitality, and he’s not satisfied with the label of popular Internet.

 
Vitality forest comes first, Challenger capital comes second. According to incomplete statistics of public data, Tang Binsen has made 137 investments in the new consumption field in the past seven years through “bright and dark” of vitality forest and Challenger capital. In addition to trying to maintain high growth through category expansion, it is also an extension of its consumption concept.

 
Tang Binsen is constantly replicating the “red hot logic” in other brands, such as pastoral, Beihai ranch, water and so on. Although some time ago, the marketing rollover was questioned by consumers, but Tang Binsen is still in an orderly secret layout of the “vitality Empire”. Sugar free drinks are the starting point of vitality forest, but not the end of Tang Binsen.

 

In seven years, Tang Binsen made 137 shots

In the past six months, the layout of Yuanqi forest has been speeding up, and Tang Binsen’s ambition has begun to show.

 
Guanchao new consumer has noticed that Yuanqi forest has completed five foreign investments in three months focusing on light food and drinks. The amount of investment is not too much, but it accounts for a lot of shares.

 

In December 2020, Yuanqi forest will take shares in Shangui chicken soup and pastoral company, holding 80% and 20% respectively; Up to now, Yuan forest has invested three companies in 2021, namely, Bishan beer, Guan Yun Baijiu and NeverCoffee, holding 25%, 25.8% and 51% respectively.

 
Throughout the equity relationship between Yuanqi forest and its invested enterprises, its shareholding ratio is more than 20%, which is not a simple strategic investment. It is not difficult to see that Yuanqi forest does not just want to make bubble water. Light food, coffee and wine may be the key layout direction of the follow-up track.

 
It is worth mentioning that as early as November 2015, Tang Binsen invested 5 million yuan in Baiyun Baijiu liquor as an angel investor. The latter was also funded by two rounds of Challenger capital and energy forest. The total amount of financing is over 100 million.

 
According to public data, Chen Zhenyu, a controlling shareholder of Guan Yun liquor, owns 45.61% of the company’s shares. On the surface, it is the largest shareholder of the company. But the proportion of capital forest, Challenger capital and private equity fund is nearly 52%, plus hundreds of millions of yuan investment. Tang Binsen’s attention to the wine circuit is remarkable.

 

Tang Binsen has created a vigorous forest empire of 40 billion yuan on one hand, and on the other hand, he is also in the field of big consumption with Challenger capital.

 
For many years, the Challenger capital behind Tang Binsen has been low-key layout, including food and beverage, life services, pets, medical care, culture and entertainment, scientific and technological intelligence, finance and other consumer segments. With the popularity of Yuanqi forest, Challenger capital gradually surfaced.

 
According to incomplete statistics of public data, since its establishment in 2014, Challenger capital has completed 132 investments in the field of big consumption.

 
In the consumer circuit, Challenger capital focuses on food and beverage, culture and entertainment industry. Up to now, 28 and 53 investments have been made in the two fields respectively. Among them, 9 projects including food and beverage, culture and entertainment were put into two rounds of continuous investment. Hand pulled noodle, panda essence, Guan Yun Baijiu, Wang Xiaolu and other new brands have been emerging in recent years.

 
Overall, Challenger capital preferred to invest in round a and early projects before round a, and early financing projects accounted for about 50% of the total investment projects. At the same time, most of the early financing projects are independent investment projects. It’s a bit like the experimental field, and also has the style of “cultivation investment”.

 

 
Zhou Hua, partner of Challenger capital, once said that Challenger capital pays attention to early investment because it is good at grasping the trend of consumer goods.

 
Obviously, in 2017, challengers capital started to layout drinks, Baijiu and brew beer tracks. In 2018, it started to work on the new catering store track, and also occupied a place in the major wanghong snack track. At the same time, Challenger capital also expands its layout to the consumer areas of washing and care, pet products, household products, etc.

 
On the whole, since last year, Yuanqi forest and Challenger capital have been busy in the layout of food and beverage track, with fast investment frequency and wide segmentation. The invested enterprises are basically the food and drink projects that young people pay attention to. Health and low fat are the key words.

 
What’s more interesting is that nevercofee, Shangui and Guanyun, which Yuanqi forest has recently invested in, all have Challenger capital in the middle and early financing of these projects.

 
The vitality forest and Challenger capital, one in the light and the other in the dark, have clearly outlined the outline of the light food consumption empire.

 

Estimated at US $6 billion in five years to build a light food consumption Empire

In March this year, Yuanqi forest completed the latest round of US $500 million strategic financing. This round of financing was led by new shareholders Huaping investment, l catterton and old shareholders Sequoia Capital China, followed by Temasek. In addition, many old shareholders such as Gaorong and Longhu continued to follow. Up to now, Yuanqi forest has completed six rounds of financing.

 

Why is Yuanqi forest valued at 6 billion US dollars?

 
In the initial stage, Yuanqi forest is quite different from traditional enterprises.

 
The first is the product. In terms of track selection, Tang Bingsen chose tea drinks with large population base, high penetration rate and high consumption frequency, which means that there is a greater probability of explosive products.

 
At the same time, the selection idea of Yuanqi forest comes from Tang Binsen’s “geopolitical arbitrage” theory, which observes which consumer categories are the most popular in foreign markets from a global perspective. After selecting the categories, it improves and develops the taste and formula preference of domestic consumers.

 
It is not difficult to find that in the current product matrix of Yuanqi forest, there are many overseas popular tea products. For example, the standard of burning tea is Japanese sugar free tea: Suntory oolong tea and ITO garden green tea, and milk tea is ITO garden milk tea.

 
Product appearance. Nowadays, Z generation has become the mainstream consumer group, and simplicity, national fashion and delicacy have become the mainstream aesthetic trend. Good looking product packaging is often the premise for young people to further understand the product. Yuanqi forest successfully captured the young consumers of Yan Kong with its fresh and high-value Japanese packaging.

 
In terms of healthy diet. Yuanqi forest takes the lead in using natural sweetener erythritol. The product positioning of “0 sugar, 0 fat, 0 card” is in line with the health concept of contemporary young people.

 
Good looking, not fat and good to drink label has become the key for Z generation consumers to buy again.

 
The second is the channel. In recent years, with an average annual growth rate of 10%, convenience stores have become an important consumption scene for young consumers in first and second tier cities. In the early days of its establishment, Yuanqi forest keenly captured the changes of traffic, eliminating the layers of channels of traditional dealers, and laying out a large number of convenience stores such as convenience bee and Rosen in the first and second tier cities, which not only directly reached young consumers, but also saved costs.

 
According to public data, in 2020, Yuanqi forest’s Omni channel terminal sales exceeded 2.5 billion, of which online sales accounted for about 25%, and the remaining 75% of sales came from offline channels: convenience stores accounted for about 35%, large supermarkets accounted for about 1%, and traditional sales channels such as restaurants and schools accounted for about 39%.

 
Finally, marketing. In the early days of Yuanqi forest, it mainly used word-of-mouth communication, cooperated with a number of microblogs and xiaohongshu KOL, planted grass closely around the Z generation, continuously strengthened the selling point of “0 sugar, 0 fat, 0 card” of Yuanqi forest bubble water, and captured consumers’ minds.

 
Different from the growth path of traditional giants, we timely grasped the “health” tuyere of yancon Z generation. Yuanqi forest broke the curse of difficult to produce explosive products in the beverage industry, and successfully detonated the bubble water that redefined the category.

 

According to public data, in 2020, the performance of Yuanqi forest increased by about 270% year on year, and the annual sales reached 3 billion yuan. During 618 of the same year, Yuanqi forest ranked first in the sales of tmall drinks.

 
Yuanqi forest did catch the wind of sugar free, but with the popularity of bubble water, delicious, Pepsi and Nongfu spring entered the market one after another to seize the incremental market. In addition, Xicha has introduced 0 sugar, 0 fat and 0 calorie xixiaocha soft drink, and the product design, channel and marketing have completely copied the development path of Yuanqi forest bubble water. Under the same conditions, Xicha can also rely on offline store channels to achieve more efficient shipment.

 
At the same time, Yuanqi forest has also exposed the problem of over reliance on popular products. Last year, 70% of Yuanqi forest’s sales came from soda water.

 
Giant new forces are covetous, just with a bubble of water to fight it is not enough, to rebuild the next vitality forest is imminent.

 

Mass production of “Yuanqi forest

Tang Bingsen is not plain sailing.

 
Before he founded Yuanqi forest, when he was in the most difficult time to start his own business, he couldn’t pay his salary for eight consecutive months. Until 2008, with the support of Beihang science and Technology Park, zhimingmingtong was established. Relying on the vegetable stealing game “happy farm”, it swept the whole network and even the world, opening the door to the game. In 2014, it once again became popular in overseas markets with its self-developed game the dispute between kings.

 
In the same year, after two unsuccessful attempts to seek IPO, zhimingxing Tong sold himself to Chinese media at a price of 2.66 billion yuan. Tang Binsen, then chairman of zhimingxing Tong, finally cashed out several hundred million yuan.

 
“ With a large amount of money accumulated before, Tang Binsen created Challenger capital in the same year, focusing on investment and consumption and TMT direction.

 
In fact, Tang Bingsen has been trying to create the next explosive.

 
At the dealer conference in 2020, Tang Binsen said that 95% of Yuanqi forest’s products have not been launched, and 2021 will be the year of Yuanqi forest’s products.

 
In addition to bubble water, Yuanqi forest’s existing product lines include Yuanqi forest milk tea, burning tea, bodybuilding light tea, alien functional drinks, Beihai ranch yogurt, full score juice bubble water, coffee latte milk tea, etc., with a comprehensive layout of beverage segments.

 

Among them, the alien functional beverage also considered the diversified and personalized demands of young consumers, launched three flavors of litchi sea salt, grapefruit and lime, eliminated the short board of single taste of electrolyte water in the market, and tried to create a new functional pop drink.

 
Beihai ranch was established in April 2018, and the first product “Beihai ranch 3.1” was officially put on the market in June of the same year. Yogurt with “0 sugar, low calorie, high protein” selling point is popular, whether it is product positioning, or fresh Japanese packaging design are the same as Yuanqi forest.

 

Nowadays, new consumer groups are keen on eating and drinking, but they don’t want to get fat. The combination of new brand and healthy low-fat can often attract a large number of young consumers who love to eat. They not only satisfy their appetite, but also don’t feel guilty because they eat too much. Tang Bingsen and Yuanqi forest have grasped the lifeblood of young people.

 
One by one, Yuanqi forest has been reproduced and produced, but the current effect is far less than that of Yuanqi forest. Since last year, Yuanqi forest and Challenger capital have accelerated the layout of food and beverage consumption track around healthy and low-fat.

 
Wide net, Tang Bingsen at the same time layout of several 10 billion, 100 billion scale track. Whether it’s Yuanqi forest bubble water, Yuanqi forest milk tea with low sugar and low fat, or beverage and food enterprises with foreign investment, he intends to mass produce the next Yuanqi forest in each category.

 
After selecting the competition road and optimistic about the trend, Yuanqi forest’s production and marketing methods were copied to other invested brands. At the same time, Challenger capital, through early investment and deep post investment management, continuously enriches the antennae and scenes of consumer goods circuit for vitality forest, and finally forms a consumer goods empire with the same gene and underlying logic.

 
It seems that what Yuanqi forest wants to create is not only a simple product matrix, but also a category covering all the needs of a generation. And in these categories to create popular, firmly occupy the minds of consumers.

 
It took Coca Cola a hundred years to become a world brand, and Zhong made Nongfu Shanquan a household name in 24 years. Under the new wave of consumption, the speed of brand rise is amazing, but the challenge is also greater. The speed of consumer forgetting will only be faster than cognition.

 
The forest of gas is the dark horse of bubble water industry. But who will break through the next industry, such as coffee, light food, beer and Baijiu, unexpected winner?

Author: Wang t t; Source: ID: tigesight, reprint authorized. Joining the community: Cherry (wechat: 15240428449); Business cooperation: Amy (wechat: 13701559246). Recommended reading “five questions” of hyaluronic acid  |  2021 next innovation award  |  Sugar crisis   |  100 billion light food|   2021 the most innovative company in the world   | | |  |  |  Collagen Peptide  |  Daily new walnut stew: Isee trend  |  Editor’s  |  Reader’s  
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With 137 investments in 7 years, Tang Binsen is mass producing “Yuanqi forest

 

最后是营销。元气森林初期主要采用口碑传播,与多位微博、小红书KOL合作,紧紧围绕Z世代做内容种草,不断强化元气森林气泡水“0糖0脂0卡”的卖点,攻下消费者心智。

 

区别于传统巨头的成长路径,适时抓住颜控Z世代们的“养生”风口,元气森林打破了饮料行业难出爆品的魔咒,成功引爆了重新定义品类的气泡水。

 

据公开数据显示,2020年元气森林业绩同比增长约270%,全年销量达30亿元。同年618期间,元气森林在天猫饮品类销量排名第一。

 

元气森林的确是抓住了无糖的风口,不过随着气泡水的走红,可口、百事、农夫山泉纷纷入场抢夺增量市场。此外,喜茶推出了0糖0脂0卡喜小茶汽水,产品设计、渠道、营销完全复制了元气森林气泡水的发展路径。在同等条件下,喜茶还可以依托线下门店渠道,出货量更高效。

 

同时,元气森林也暴露出过度依赖爆款单品的问题,去年元气森林70%的销售额来源于苏打水。

 

巨头新势力们虎视眈眈,仅凭一个气泡水与之叫板还远远不够,再造下一个元气森林迫在眉睫。

 

批量生产“元气森林”

唐彬森也并非一帆风顺。

 

在创立元气森林之前,唐彬森创业最窘迫的时候,也曾连续8个月发不出工资。直到2008年在北航科技园的支持下成立了智明星通,并靠着偷菜小游戏《开心农场》风靡全网甚至全球,打开了通往游戏的大门。2014年,再次凭借自研游戏《列王的纷争》火遍海外市场。

 

同年,两度寻求IPO无果后,智明星通以26.6亿元的价格卖身给了中文传媒,时任智明星通董事长的唐彬森最终套现价格达数亿元。

 

“游戏大佬转行做消费品”,带着此前积累的大笔资金,唐彬森同年一手创立挑战者资本,专注投资消费领域和TMT方向。

 

其实,唐彬森一直在试图打造下一个爆品。

 

在2020年的经销商大会上,唐彬森说,元气森林还有95%的产品没有推出,2021年将是元气森林的产品大年。

 

除了气泡水外,元气森林现有的产品线还包括元气森林乳茶、燃茶、健美轻茶、外星人功能性饮料、北海牧场酸奶、满分果汁气泡水、咖啡拿铁乳茶等,全面布局饮料细分赛道。

 

其中,外星人功能性饮料同样考虑了年轻消费者多元化、个性化的诉求,推出了荔枝海盐、西柚、青柠三种口味,消除了市场上电解质水口味单一的短板,试图打造新的功能性爆款饮品。

 

而北海牧场成立于2018年4月,第一支产品“北海牧场3.1”在同年6月正式上市售卖。酸奶凭借“0蔗糖、低卡、高蛋白”卖点走红,不管是产品定位,还是清新日系的包装设计都与元气森林如出一辙。

 

现如今新消费群体热衷于吃吃喝喝又不想变胖,初出茅庐的新品牌,与健康低脂相结合,往往就能吸引一大批爱吃的年轻消费者,既满足了口腹之欲,又不会因为吃了太多有负罪感,唐彬森和元气森林死死拿捏住了年轻人的命脉。

 

一个又一个“元气森林”被复制生产,但目前的效果都还远不及元气森林火爆。从去年开始元气森林和挑战者资本双双围绕健康低脂加快布局食品饮品消费赛道。

 

广撒网,唐彬森同时布局着好几个百亿、千亿规模赛道。不论是自有产品元气森林气泡水、低糖低脂的元气森林乳茶,还是对外投资的饮料食品企业,他意图在每个细分品类上,批量生产下一个元气森林。

 

选中了大赛道,看好趋势后,元气森林的产销爆款玩法被复制到其他被投品牌。同时,挑战者资本通过早期投资和深度的投后管理,为元气森林不断丰富消费品赛道的触角和场景,最终构成的是一个有着相同基因和底层逻辑的消费品帝国。

 

元气森林想打造的似乎不仅仅是一个简单的产品矩阵,而是要把握住一代人,覆盖这代人所有需求的品类。并在这些品类中打造爆款,牢牢占据消费者心智。

 

可口可乐用了百年时间成为世界品牌,钟睒睒24年将农夫山泉品牌做到家喻户晓。新消费浪潮下,品牌崛起的速度惊人,但挑战也更大,消费者遗忘的速度只会比认知更快。

 

元气森林是气泡水行业的黑马,但唐彬森布局的咖啡、轻食、啤酒、白酒等行业,谁会先突围成为下一个呢?

作者:王吨吨;来源:观潮新消费(ID:TideSight),转载已获得授权。
加入社群:Cherry(微信:15240428449);
商务合作:Amy(微信:13701559246)。

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