派特鲜生退场，侯毅：不建议再开宠物食品实体门店

Core Insights - The founder of Hema, Hou Yi, announced the closure of all offline stores of his pet food brand, Paitexiansheng, by mid-December, retaining only online operations due to high costs and low profitability of small-scale physical stores [1][2] Group 1: Company Overview - Paitexiansheng was established in 2024, focusing on a "freshly made" pet food retail model, with 18 stores opened by November 19, 2023, of which 7 have already closed [1] - The brand aimed to expand rapidly, with a goal of opening 100 stores in Shanghai by 2025, and raised $25 million in angel funding, setting a record in the domestic pet industry [1][3] Group 2: Challenges Faced - The failure of Paitexiansheng is attributed to two main issues: the discount store model not resonating with consumers who prefer established industrial brands, and difficulties in promoting fresh food products due to higher pricing compared to competitors [2] - The operational challenges include the need for cold chain logistics for fresh food, short shelf life, and a lack of unified industry standards, making large-scale offline stores less viable [2][3] Group 3: Industry Context - The pet food market in China is projected to exceed 811.4 billion yuan by 2025, with pet food being a crucial segment [3] - The global fresh pet food market is expected to surpass $4.5 billion by 2025, with a compound annual growth rate of 21.3%, indicating a growing trend despite Paitexiansheng's exit [3] - The penetration rate of fresh food feeding in China remains below 5%, significantly lower than the 36% in the U.S., suggesting room for growth in this segment [3] Group 4: Future Directions - Hou Yi reflected on the need for deeper understanding of the pet food industry, indicating a potential return to familiar territory in the fresh food sector for future ventures [4]