HeFu Laomian operates a nationwide chain of Chinese noodle restaurants, using a signature “Chinese study” flagship store format in premium malls. The company focuses on mid-to-high-end Chinese noodle dishes and multi-brand餐饮 (multi-brand restaurant) expansion. It has sustained revenue growth of over 50% year-over-year for several years, with average single-store revenue around ¥550,000/month, monthly sales per square meter (坪效) of ¥4,800, per-employee productivity of ¥55,000/month, and an average ticket price of ¥45. As of June 2021 the chain had more than 340 stores, opened its 100th Shanghai store in May, and was opening roughly one new store every two days, targeting about 450 stores by year-end. The company plans to use new capital to build out an industry-chain ecosystem, create new brands, expand channels, and develop digital capabilities to support multi-brand growth.

Total raised

$124M

Funding rounds

1

Latest round

Series E

Latest activity

Jul 2021