Yipin Fresh

About Yipin Fresh

Yipin Fresh operates a hybrid business model in China's competitive fresh food retail market, blending online e-commerce with a network of physical discount supermarkets. Founded in 2013 by Jiang Jianfei and Shizhong Yang, the company initially established offline community stores before expanding into an Online-to-Offline (O2O) strategy in 2019. The firm is headquartered in Chongqing, China.

The company's operational framework is built on a direct sourcing strategy, procuring produce directly from farms and its own agricultural and breeding bases to shorten the supply chain. This vertical integration allows Yipin Fresh to control product quality and offer competitive pricing by eliminating intermediaries. The business distributes various grades of produce through different channels; high-quality items are sold in its retail stores, while others are sold via B2B wholesale. Revenue is generated primarily through the sale of goods like fruits, vegetables, meat, and dairy, supplemented by fees for home delivery services.

Customers can engage with Yipin Fresh through its physical neighborhood stores or its digital platforms, including the "Yipien Daojia" app and a WeChat mini-program, which facilitate online ordering for either home delivery or in-store pickup. A distinctive element of its expansion is a partnership model, where store managers and even other local community businesses can become investment partners, fostering rapid growth of its retail and pickup network. The company has secured significant financial backing, including a Series B round in March 2019 and a $359 million Series C round in August 2020, with notable investors like Tencent and Capital Today.