Good News for Beer Lovers in China, Shanghai-based Beers E-Retailer Cheers-In.com Raised $230K

Founded in June, 2011 by Grégoire Prouvost and Cédric Bourlet, two French entrepreneurs living in Shanghai, the premium beers e-retailer Cheers-In.com/Qiyin.cn (in Chinese, Cheers-In is Qi Yin 齐饮 which literally means Drink Together) just raised $230K from Kima Ventures, an investment fund of Xavier Niel and Jeremie Berrebi.

Beer market is really a niche one, but no double it has massive potential in China. Grégoire told us, “China global beer Market is the biggest in the world (around $40 Billions). ‘Premium beer’ segment is 5% of this market but it is growing twice faster than the rest of the market. There are more and more beer connoisseurs and specialty beers are now considered like wine or cognac.”

Cheers-in currently has around 5.000 customers in Shanghai and it is growing. This first round of funding will help this startup’s operational expansion to other Chinese cities and put the last steps to its franchising project of premium beer boutiques concept. Pioneer on its sector, the click and mortar startup aims to stay on the impressive Chinese e-commerce wave of growth but also want to keep physical presence in the main 1st tier cities (already 3 boutiques in Shanghai).

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