The pet nutrition brand “Red Dog” – Hongrui Biotechnology recently completed a first round of financing of nearly 200 million yuan (US$30 million) in China. Jinding Capital led the investment, along with Guangdian Capital. Sun Cloud Capital served as the exclusive consultant for the operation.
Red Dog representative explained this round of financing will be mainly used to acquire the remaining shares of Red Dog America, develop new drugs and nutritional foods, and strengthen technical cooperation with Davis and Kansas State University.
On the products side, the company started from drugs and has strong research and development capabilities. Most of the products are independently developed and patented. The production line meets GMP standards, and respects US FDA and FFDCA standards and European EMEAB standards.
Today, the company continues to enrich its product category matrix, mainly selling nutritional products and staple food cans to the market. Among them, nutritional products cover comprehensive nutritional supplements, gastrointestinal health care, calcium supplementation and bone strengthening, hair beauty and skin care, etc., and nutritional creams and hair-removing creams rank first in the same category in the Chinese market as the main products; Pet food cans are available since November 2020.
On the brand side, the company is working on better serve each of the markets it covers, acknowledging different approaches for RedDog China and the RedDog US for instance. For its China debuts, the brand focused on the medical channel, which contributed to gain a strong professional endorsement; at the same time, it conformed to channel iterations and ventured into pet nutrition.
It is worth mentioning that RedDog is one of the earliest brands to cultivate pet nutrition cream in China. In recent years, Red Dog has insisted on cooperating with Chinese and American universities and industry media to promote a pet health culture. At the same time, it has actively tried new media promotion cooperation, naming the pet hospital theme column on Chinese Bilibili platform, etc.
In China, Red Dog revealed that the company currently has the largest market share for pet healthcare products in offline sales channel. Red Dog’s sales in 2021 are expected to double from 2020.
RedDog is also preparing its entry in the Southeast Asian market and its expansion into global markets other than China and the United States.