36Kr's exclusive fresh supermarket brand "T 1 1" completed the $ KLOC-0/billion Series B financing, which was led by Alibaba.

36Kr learned exclusively that the new retail brand "T 1 1" of fresh supermarket has recently completed a series B financing of 1 billion US dollars, led by Alibaba, followed by Hongwei Capital and MSA Capital, with Hanergy Investment as the exclusive financial advisor. This round of financing will be mainly used for service upgrading of core business, e-commerce construction, supply chain empowerment and retail technology investment.

Previously, T 1 1 has been jointly invested by Everbright Holdings New Economy and IDG, and Gome, Roy Capital and Yi San Capital have invested 654.38 billion yuan in angel round financing; MSA Capital's exclusive investment in tens of millions of dollars in Series A financing.

T65438 was established in May, 20 1 1. It is a new retail platform with omni-channel retail, smart supply chain and retail technology as its three core businesses. T 1 1 Fresh supermarket is an online and offline integrated city life member supermarket, which mainly deals with fresh food and general food, and also deals in Chinese/western food, Japanese food, coffee drinks, daily necessities and other categories, covering daily life scenes such as family kitchen and washing.

T 1 1 supply chain business, providing supply chain empowerment services for all supermarkets, building a global, national and regional three-tier supply chain system from commodity structure planning, procurement solutions and warehousing and distribution logistics solutions, and developing a self-developed supply chain management system, which can provide solutions for the whole process of procurement, sales, warehousing and distribution. At the same time, the company plans to build PDT/C, which can provide the best product standardization service from the place of origin to the shelves in the future.

In retail technology, T 1 1 has set up its own technology research and development team and developed the leading S 1 1 system in China. The system has the characteristics of flexibility, adaptability and modularity, and has obtained a number of intellectual property rights. It has been certified as "National High-tech Enterprise" and "Zhongguancun High-tech Enterprise".

Du Yong, founder and CEO of T 1 1, told 36Kr that T 1 1 has been laid out in several cities in Beijing, Shanghai and Wuhan, and will open to eight stores by the end of the year, including five in Beijing (the fifth one-Xixi Friendship Store1officially opened in February of 5).

Photo courtesy of respondents

On June 20 19, T 1 1 Beijing Chaoyang Park Store officially opened. As the first store in China, the store mainly serves office white-collar workers and family-oriented consumers within a radius of 3km, and provides nearly 7,000 SKUs of globally preferred goods.

After more than a year's exploration, T 1 1 of smart retail ecology has been built in terms of products, supply chain and user experience, which has accelerated the pace of opening stores. From August to September last year, T 1 1 opened its first single-family store (Beijing Guanghua Xincheng Store). The first commercial renovation project T 1 1 (Beijing Contemporary Mall Store) and the first community store T 1 1 (Beijing Guoao Store) opened one after another.

Among them, T 1 1 Beijing Guanghua Xincheng Store introduced the "dry/wet cooked beef technology" on the basis of the original special products of the first store in Beijing, providing various services such as processing/retail/branding; In addition, the T 1 1 private tea brand Ti Zone was opened. T 1 1 The contemporary shopping mall has added sausage room and Japanese theme dining room lights. T 1 1 Guoao Center Store is a street store facing the community. Unlike the previous T 1 1 store with an area of 4,000 square meters and 7000SKU, its area is less than 1 1,000 square meters, with only more than 2,000 SKUs.

Focusing on the consumption habits of users and consumers in different business districts, four stores in Beijing have their own characteristics in terms of store location, store size, store decoration, product selection, module layout and operation services. "The development of commercial chains in the future is fundamentally different from before. It used to be standardized replication, but now it needs non-standardized replication. In order to serve the people in the surrounding business districts, every store must create accurate products and enhance the service experience based on user attributes. " Du told 36Kr.

Four stores correspond to four forms: commercial single-family property stores, shopping malls and community stores. And these four stores are exactly the answers that T 1 1 has explored in chain supermarkets in the past year or so. Next, T 1 1 will also make a nationwide layout with these four stores as samples. For example, Wuhan hang lung plaza Store and Shanghai caohejing Impression City Store are different places to build shopping malls. Although they are all located in shopping centers, there are local differences in different cities. For example, the high-end wine in Wuhan store has a large area, while the fresh area in Shanghai is large; The different supply chains in the two cities will also make it difficult to open stores.

T 1 1 beverage area, provided by the interviewee.

Du Yong told 36Kr that the first store in Beijing had achieved a monthly profit after the Spring Festival last year, with more than 300,000 active users in a single store. The growth curve of new stores is good, and the sales of the fastest-growing contemporary mall stores have surpassed that of Chaoyang Park stores. In his view, thanks to T 1 1 mature experience accumulation and solid supply chain, Xixi Friendship Store, which is about to open, will directly enter a higher growth cycle after its opening.

In the past year or so, T 1 1 has been upgraded in many aspects such as supply chain and e-commerce.

Supply chain: Affected by the epidemic, the overseas supply chain of imported fruits, beef and aquatic products has been greatly affected. T 1 1 began to explore the domestic supply chain, on the one hand, seeking high-quality goods from high-quality producing areas, on the other hand, exerting its own brands, such as Ti tea and rice.

E-commerce: E-commerce: upgraded from 1.0 to 2.0. Pattern+short video content to recommend goods and promote order conversion; From pure vertical e-commerce, to self-operated+platform business form, "Tian Tian Vegetable Farm" and Tmart are the main products, and "customized and cost-effective" planned purchase business has been added to the self-promotion mode.

At present, the online business of T 1 1 Beijing Chaoyang Park Store has reached 40%, and the online business of other stores is 30%. In terms of online order fulfillment, the delivery cost of each order is between 7 yuan and 8 yuan, and the comprehensive fulfillment cost is 10- 12.

Photo courtesy of respondents

Previously, the popularity of community group buying has had a certain impact on fresh retailers, which can also be seen from the financial reports of some companies. Du Yong told 36Kr that even though the users of T 1 1 were affected by community group buying, their support for T 1 1 did not weaken, and their business data was constantly improving. In his view, the connection between users and T 1 1 is more out of trust. "Make friends with users for a long time and provide them with high-quality goods with high cost performance. After forming this convergence and trust, we have earned long-term value. "

Du Yong said that T 1 1 has formed a clear goal: First, online and offline integrated e-commerce, and he hopes that both the "self-employment+empowerment" roads can go through. "Self-management means opening a good store, which is similar to making F 1 racing cars, and empowerment is like producing cars and providing the accumulated konwhow to the industry", which will become a retail in China in the future. The second is the supply chain, building a global, national and localized three-tier supply chain system; Third, retail technology has become the top SaaS company in this field.