Jiangxiaobai Raises Series C Financing, Dedicated to R&D and Old Liquor Reserve
CHONGQING, China, Sept. 30, 2020 /PRNewswire/ — On 24 September, Chongqing Jiangxiaobai Liquor Co. Ltd. raised series C financing. The investment was led by China Renaissance New Economies Fund, Baillie Gifford, Loyal Valley Capital, followed by CMB International Capital, Kunyan Investment and Wens Investment.
Jiangxiaobai’s goal has always been focusing on making fine products and raising international competitiveness. With the financing, the company continues to implement its plan for R&D and old liquor reserve. By strengthening its supply chain on agriculture and distillery, quality is to be improved and ensured, in order to cope with the demands on diversity and premiumization from drinking consumers.
Jiangxiaobai Founder Tao Shi-quan expressed his heartfelt gratitude to all supporters that successfully raising a financing under the pandemic is never easy. Jiangxiaobai hereby drew up 3 strategies to meet the new challenges.
1. The Renaissance of the Old Flavour
Inheriting the traditional baijiu making craftsmanship, Jiangxiaobai’s commitment has made its “Express Bottle” the most scalable and remarkable light-aroma baijiu in the market. Meanwhile, keeping up with the contemporary taste trend, Jiangxiaobai introduced “501 Series” with 52% alc. this summer, bringing the authentic taste of sorghum to drinkers; launched flavoured baijiu with 15-23% alc. and Meijian plum baijiu which was the best seller in Tmall-618 promotion period.
2. Enhancement of the whole Supply Chain
Sharing the same vision with other international distilleries, Jiangxiaobai has secured its supply chain with quality raw materials and water source through self-sufficient sorghum farm in Baisha, Chongqing. The 2 billion of financing fund will be focusing on improving distilling techniques, old liquor reserve, raw materials growing, the 2000 hectares farm will expand to 8000 hectares in 3-5 years, ensuring the raw materials sufficiency further.
Some medias have referred Jiangxiaobai to the Huawei in liquor industry because it possesses a dream team of baijiu experts (5 state baijiu judges, 11 state 1st class distillers, 11 state sommeliers and 1 global distillation expert).
3. The Positioning of Premium National Spirits
Jiangxiaobai believes that Baijiu needs a series of products that can match with the universal palate preference, that is, a type of premium national spirits with high quality, high brand awareness and heavy consumption. Jiangxiaobai has opened up a whole new world for traditional Chinese baijiu, and that success has been proven by the post-90s younger generation’s consumption ability and potentials.