-Investment News-
Yixian e-commerce received US$120 million in strategic investment
Recently, Yixian E-commerce received a strategic investment of US$120 million from founder Huang Jinfeng and Xinchen Capital. The funds will focus on R&D innovation and global layout, helping it to leapfrog from "China's cutting-edge" to a "global beauty group".
Yixian's e-commerce R&D transformation has achieved remarkable results. In 2025, its annual revenue will be 4.3 billion yuan, a year-on-year increase of 26.7%. The proportion of skin care revenue will rise to 61.1%, and it will achieve its first annual Non-GAAP profit since its listing. The company has built a 1-3-4-6-20 global R&D system and established independent R&D centers in Shanghai, Guangzhou, China, and Toulouse, France. It has invested nearly 700 million yuan in R&D and applied for 269 patents worldwide. (WWD)
Editor's comment:
This cooperation will integrate top resources such as Xinchen Capital Pharmaceuticals and Biotechnology, and cross-border mergers and acquisitions. Yixian E-commerce will continue to deepen the research and development of cutting-edge technologies, accelerate the integration of global resources, steadily promote overseas expansion, and steadily move towards the vision of "world-class beauty innovation pioneer".
Baylor Group invests $1.373 billion to expand U.S. cheese production capacity
Recently, Bel Group, the parent company of Babybel, announced that it will spend US$200 million (equivalent to approximately 1.373 billion) to expand the Brookings cheese production plant in South Dakota, USA. After the expansion, the factory's annual output will double to 20,000 tons.
Peter McGuinness, Bel Group's new North American business chief executive, said that the company is not currently facing supply constraints, but if the expansion project fails to proceed as planned, supply pressure may occur as early as next year. (foodbev& snack substitute)
Editor's comment:
Notably, this is Baylor's largest ever investment in its U.S. business, positioning the company to meet future growth in demand for snack foods, protein foods and portion-controlled foods.
Mondelēz invests nearly 600 million to expand Toblerone chocolate production capacity in Switzerland
Recently, Mondelēz International’s Toblerone (Toblerone chocolate) production line, which it previously invested 65 million Swiss francs (equivalent to approximately 571 million yuan), was officially put into production at its Swiss factory. The factory currently produces approximately 90% of Toblerone products, and the newly commissioned production line will promote the modernization of production capacity and further expand production scale to support brand growth. (confectionerynews)
Editor's comment:
The new line promotes production capacity modernization and scale expansion, supporting brand growth; at the same time, it strengthens the high-end positioning of Swiss manufacturing to cope with soaring cocoa prices and supply chain fluctuations, ensuring a stable supply of core products.
Meiji invests 447 million to expand factory in the United States
Recently, Meiji America announced an investment of US$65 million (equivalent to approximately RMB 447 million) to expand the production capacity of its factory in York, Pennsylvania, so that it can locally produce the popular Hello Panda biscuits.
The move is expected to increase the factory's overall production capacity by approximately 50% and create new job opportunities while expanding cooperation with regional suppliers. Renovation and equipment installation of the factory will begin in 2026, with packaging operations expected to start in 2027, with full production planned for 2028. (foodbev)
Editor's comment:
The investment will be used to add new production lines and upgrade equipment, with the aim of strengthening the supply chain, deepening cooperation with retailers and driving the snack brand's continued growth.
-Launch news-
Southern Dairy plans to list on Beijing Stock Exchange
On March 11, the official website of the Beijing Stock Exchange showed that Guizhou Southern Dairy Co., Ltd. (hereinafter referred to as "Southern Dairy") IPO will be held on March 18 to prepare for the exam. Southern Dairy is mainly engaged in the manufacturing and sales of dairy products and milk-containing beverages. The company's IPO was accepted on June 24, 2025, and entered the inquiry stage on July 17 of that year.
In this IPO, Southern Dairy plans to raise 550 million yuan. After deducting issuance expenses, all of it will be used for the Weining County Southern Dairy dairy breeding base construction project and the Guizhou Southern Dairy Co., Ltd. marketing network construction project. (Beijing Business Daily)
Editor's comment:
If successfully listed, Southern Dairy will become the first listed dairy company in Guizhou, and the funds will help build its own milk sources and upgrade cold chain logistics to enhance regional competitiveness. For the industry, the listing of regional dairy companies on the Beijing Stock Exchange is on the rise, and New Dairy, Sunshine Dairy, etc. may follow suit, but it is necessary to be wary of fluctuations in the breeding cycle and raw milk price risks.
Golden Wing Mau Fruit Industry plans to list in Hong Kong
Recently, Legend Holdings announced that in order to continue to promote the listing of Xinrongmao Fruit Technology Group Co., Ltd. (Xinrongmao), an indirect subsidiary that holds approximately 39.46% of the shares, and to open up the capitalization path of the group’s fruit sector, Joyvio and Xinrongmao’s management team, after multiple rounds of full consultations, plan to adopt Xinrongmao. The joint acquisition with Joyvio will push some shareholders to withdraw from Golden Wing Mau and Xinguo Jiayuan. After the repurchase is completed, the two parties will work together to promote the listing of Golden Wing Mau's Hong Kong stocks, helping the group realize the value of Golden Wing Mau. It will also help Golden Wing Mau and Xinguo Jiayuan promote the implementation of their established strategies and achieve rapid development. (Ryan Capital)
Editor's comment:
The listing of the Hong Kong stock market will open up the capitalization path of Lenovo's fruit sector, raise funds for the construction of a global procurement network and digital supply chain, and consolidate its leading position. For the industry, the birth of the first company in the fruit supply chain has raised sector valuations and forced Hongjiu Fruits, Baiguoyuan, etc. to accelerate capitalization and standardization. However, they have to face the challenges of high fresh food losses, seasonal fluctuations and e-commerce self-operated competition.
-Acquisition News-
Papa John’s receives new acquisition interest
Recently, the Wall Street Journal cited "people familiar with the matter" as saying that Qatar-backed investment fund Irth Capital Management has submitted a takeover bid to privatize Papa John's International.
"Informed sources" said that Irth proposed to acquire Papa John's at a price of US$47 per share, with an overall valuation of approximately US$1.5 billion (equivalent to approximately 10.299 billion yuan), a premium of approximately 50% over the stock price before the offer was submitted. (Wall Street Journal&Snack Agent)
Editor's comment:
Irth tried to join forces with Apollo Global Management to acquire Papa John's last year, but the negotiations eventually broke down. This independent attack shows that it is optimistic about the pizza industry in the long term. After privatization, Irth can lead strategic restructuring, accelerate digitalization and internationalization, and get rid of short-term performance pressure.
-Brand News-
Kudi Coffee suspends joint venture applications from provincial capitals and above cities
On March 12, it was reported that Kudi Coffee would no longer accept franchises or joint ventures in key cities (municipalities, provincial capitals, etc.). In response, Kudi Coffee officially responded that starting from March 1, joint venture applications will be suspended in provincial capitals and above cities, and a number of direct-operated model image stores will be established to better enhance customer experience. (Shandong Morning News)
Editor's comment:
This move marks Kudi's shift from rapid franchise expansion to a quality-first model. The suspension of franchises can alleviate vicious competition and optimize the single-store model; at the same time, the directly-operated model stores set standards for the sinking market, export operational experience, and support the realization of more store goals.
-Personnel updates-
Harris Reed steps down as creative director of Nina Ricci
Recently, Puig’s brand Nina Ricci announced that Harris Reed will step down as the brand’s creative director. The brand's fall 2026 collection was released in Paris on March 6, his last show for the brand.
Harris Reed joined Nina Ricci in 2022, becoming the youngest creative helm in the brand's history, at the age of 26. Since graduating from Central Saint Martins in 2020, Harris Reed has collaborated with jewelery brand Missoma, wallpaper specialist Fromental and whiskey brand Royal Salute, among others. (WWD)
Editor's comment:
After Harris Reed steps down, Nina Ricci needs to find a new creative direction, or further shrink the ready-to-wear line and focus on fragrances and accessories. For the industry, the celebrity aura of young designers cannot match the business reality, and the risks of the speed-matching model between brands and creative directors are highlighted.
Etro creative director resigns
Recently, Etro announced the end of its cooperation with creative director Marco De Vincenzo. In the past four years of working together, Marco De Vincenzo has made many important contributions to the new development of the brand's aesthetic language. During his tenure, Marco De Vincenzo led the brand's creative direction and created a series of works that interpreted and refreshed Etro's core brand identity, accompanying the brand through an important process of growth and style innovation.
Etro sincerely thanks Marco De Vincenzo for his dedication, professional performance and creative contributions over the years, and sincerely wishes him smooth development in his future endeavors. (brand official)
Editor's comment:
This personnel adjustment is in line with Etro's new strategic development stage. In the future, the brand will also consolidate and implement the brand's consistent innovation concepts and core values through a new leadership structure.
