Jiangxiaobai Distillers to Receive New Funding from CMB International
Jiang Xiaobai's foremost long-term goal is to have at least three or more brands become the number one brands in their respective categories in the second decade of its business.
According to people familiar with the matter, Jiangxiaobai will receive a new round of financing from Huaxing New Economic Fund, Baillie Gifford and CMB International. The post-investment valuation may exceed CNY 13 billion.
Founded in 2012, Jiangxiaobai focuses on 'products as contents' for young people. In the early stage, due to its relatively novel concept and Internet marketing, its popularity increased rapidly, leading it to become the best-known liquor manufacturer in Chongqing with a massive scale of distilling. At present, Jiangxiaobai's fragrant sorghum spirit has become a product with a rising brand awareness and sales volumes in its category.
In the '2019 White Paper on China's Alcohol Consumption Behavior' released by Hurun, it pointed out that the post-80s generation gradually shifted to grape wine and foreign wine consumption, while the post-90s consumer groups also rose rapidly. And diverse consumption trends involving playful fusions and boundary-crossing styles were increasingly emerging.
Jiangxiaobai just came into being in this new era of drinking. "The target group of Jiangxiaobai is positioned as the new consumers born after 1995. In the long run, the product concept of the future liquor companies must move in a personalized direction," said Tao Shiquan, the founder of Jiangxiaobai.