Lanxiong

About Lanxiong

Lanxiong Hot Pot is a convenience store chain specializing in a wide array of ingredients for hot pot, alongside semi-prepared and ready-to-eat Chinese meals, barbecue items, and beverages. The company, officially named Shanxi Lanxiong Hot Pot Supermarket Management Co., Ltd., was established in 2019 and is headquartered in Taiyuan, Shanxi. The founder, Gao Fei, leveraged 15 years of experience in the hot pot industry to launch the venture.

The business operates on a franchise-based model, targeting community-level retail. It combines a physical storefront with online ordering and delivery services, aiming to be the "second kitchen" for families. The stores stock between 350 and 400 SKUs, covering ingredients for all daily meals. Lanxiong manages its supply chain through large distribution centers in cities like Taiyuan, Zhengzhou, and Nanjing, and collaborates with over 200 food factories to ensure cost-effective and timely distribution to its stores. The company has also established its own food processing facilities, which produce a significant portion of its sales volume.

Lanxiong has experienced rapid expansion, growing to over 1,000 stores by early 2021. This growth was supported by multiple funding rounds, including investments from notable firms like ByteDance,虢盛资本 (GS Capital), and 星陀资本 (Xingtuo Capital). In February 2021, the company secured nearly 100 million RMB in a Series A funding round. By 2020, its Gross Merchandise Volume (GMV) reached over 200 million RMB. The business model caters to the growing trend of at-home dining, offering a convenient and affordable alternative to restaurant meals.