Zhongbai Lawson, the leading convenience store in central China, completes tens of millions of RMB in Series B financing led by CEC Capital Group

Lawson is a convenience store brand jointly created by Zhongbai Holdings Group and Japanese Lawson Co., Ltd. (hereinafter referred to as "Japan Lawson"). Zhongbai Holdings Group is a large, publicly listed company with commercial retail as its primary business. It is also one of 20 national commercial enterprise groups that the Ministry of Commerce is focused on fostering. The group is involved in multiple retail formats such as supermarkets, department stores, convenience stores, fresh food, and electrical appliances, among other formats. Zhongbai has also embraced the Internet, and has adopted new omni-channel retail formats.

Japan Lawson is one of the world's leading convenience store chains, with more than 17,000 stores worldwide. Since entering the Chinese market in 1997, it has successively opened more than 2,600 stores across Shanghai, Chongqing, Liaoning, Zhejiang, Beijing, Jiangsu, Hubei, Anhui, Tianjin, and Hunan, among other cities in China.

The Zhongbai Lawson brand is the result of a strong partnership between the two companies. Thanks to Zhongbai Group’s experience in retail, logistics and other fields, as well as Japan Lawson’s experience in convenience store operations and management, Zhongbai Lawson has been able to maintain a pace of opening over 150 stores a year. Zhongbai Lawson has become one of the fastest-growing convenience store brands in China. With a strong reputation for selling quality products, an advanced supply chain management and tech platform, and a brand that resonates with China’s "young and fashionable", Zhongbai Lawson will have 450 stores under operation by the end of 2019 generating annual sales of over RMB 1 billion, including new outlets in Wuhan, Changsha, and Huangshi.

In the next three years, Zhongbai Lawson will accelerate its expansion into the central China regional market and into cities such as Xiangyang and Jingzhou. It plans to open 500 new stores over the next three years, achieve a total of 1,000+ active stores, and build Zhongbai Lawson into central China’s leading convenience store brand.

About CEC Capital Group’s Future Industry Fund

CEC Capital Group’s Future Industry Fund is the first RMB fund established by CEC Capital Group, a leading investment bank in China. The Future Industry Fund focuses on growth investment opportunities in the areas of health, consumer, and TMT. The fund’s portfolio currently includes investments in China (Miss Fresh, Arrail Dental, and Universal Medical Imaging, among others) as well as in the US (Freenome). The Future Industry Fund currently operates out of offices in Beijing and Shanghai.