Tea brand "LINLEE" sold products worth 2.7 billion yuan in a year and received tens of millions in financing | Exclusive from 36Kr

36Kr learned that the lemon tea brand "LINLEE" has completed tens of millions of yuan in Series A financing. Qianhai Ark Fund is the sole investor, and the brand is valued at nearly 1 billion yuan. The funds from this round will mainly be used for brand building, supply chain upgrading, and organizational upgrading.

This is another round of financing for "LINLEE" after it received tens of millions of yuan in angel - round investment from 37 Interactive Entertainment in 2021. The current brand name "LINLEE" was also officially launched in this year.

According to 36Kr, "LINLEE" has over 1,900 stores, covering 31 provinces and over 200 cities. Its total GMV in 2025 reached 2.7 billion yuan.

The story of "LINLEE" began in 2012. Looking back at its growth trajectory, it has experienced many twists and turns.

In Zhanjiang, Guangdong, there was once a milk tea shop named "Linli", which closed due to poor management. Wang Jingyuan, who earned his first pot of gold by selling bicycles, bought the shop's design. Five years later, he rebuilt the team and adjusted the products, focusing on lemon tea.

After the brand was launched, it was hit by counterfeit stores. Wang Jingyuan simply renamed the brand "LINLEE" and later added the Chinese name "Linli".

In the past year, one of the keywords in the tea - beverage market was IPO. Brands such as Guming, Shanghai Auntie, and Cha Ba Wang have successively gone public. Another keyword was going global, with almost every milk tea brand opening stores in overseas markets.

All such excitement has nothing to do with "LINLEE".

Wang Jingyuan told 36Kr that their current focus remains on the domestic market. In his view, compared with the 30% - 40% chain - store rate of the milk tea category, the current chain - store rate of the lemon tea market is only about 10%, and it is far from entering the stage of stock competition.

"In the past year, we and our competitors have been going our own ways. LINLEE's core efforts have mainly been focused on refining the product - store model and increasing the repurchase rate," said Wang Jingyuan.

In 2023, when Wang Jingyuan was interviewed by 36Kr, he predicted that "the lemon tea market will enter an era of competing in the supply chain in five years". To prepare for this moment, in the past year or so, "LINLEE" has carried out intensive "fortification" actions in the supply chain.

According to his disclosure, "LINLEE" has cooperated with perfume lemon orchards covering an area of 30,000 mu, with an annual fruit - harvesting volume of about 20,000 tons. It has also built its own large - scale lemon sorting center with a daily production capacity of 40 tons.

Its cold - chain distribution network has covered more than 80 cities across the country, and the delivery time in core cities is less than 24 hours. In addition, the brand has built its own tea factory covering thousands of square meters to ensure the stability of tea aroma and taste.

This layout played a crucial role when the price of lemons skyrocketed last year. Through "direct sourcing from the origin + price negotiation + storage and transportation technology", "LINLEE" stabilized cost fluctuations, ensured that the store cost rate was lower than the industry norm, and thus increased the profit margin for franchisees.

On the product side, "LINLEE" has built a solid matrix of popular single products. Among them, the annual sales of the signature hand - beaten lemon tea, hand - beaten lemon tea with Dancong Yashixiang tea, and wampee lemon tea reached 20 million cups, 12 million cups, and 12 million cups respectively. The fresh hand - beaten lemon tea, white grape iced lemon tea, and Thai green hand - beaten lemon tea are also popular products in the market.

To meet consumers' demand for shifting from "sweet drinks" to "healthy drinks", LINLEE is also strengthening the concept of "high - VC fruit lemon tea". As the consumption scenarios have expanded from quenching thirst on the roadside to dining, parties, the workplace, and even sports and fitness, LINLEE has also increased its marketing efforts for the "dining and party" scenarios in winter.

For many people, their first cup of lemon tea from "LINLEE" may have been purchased to get a little yellow duck.

As a peripheral product of "LINLEE", the little yellow duck was initially launched to relieve customers' boredom while queuing up to buy lemon tea. Unexpectedly, this duck later became an important driving force for the growth of "LINLEE", with more than 110 million little yellow ducks given away in 2025.

"Many people buy our products for the little yellow duck. Squeezing it at work or when feeling irritated is quite stress - relieving, and it makes people relax immediately. Moreover, our products live up to this wave of popularity, with reasonable prices and no deception."

"I think that in addition to focusing on costs and making profits, products should also generate emotional recognition. Once customers recognize you, they will support you, and the repurchase rate is the result of gaining others' recognition."

In 2023, before emotional consumption became as popular as it is now, Wang Jingyuan realized the necessity of establishing an emotional connection with the public. In his view, the little yellow duck has made "LINLEE" a brand with warmth and emotion.

In the past two years, "LINLEE" has been continuously developing the little yellow duck, from co - branding to various peripheral products, including clogs, building blocks, water guns, refrigerator magnets, etc.

In addition to the classic little yellow duck, "LINLEE" officially launched a new IP image today - "Linli Duck", with a round body and a cute and innocent look.

Wang Jingyuan told 36Kr that "Linli Duck" has started systematic IP - based operations. It not only has a specific personality setting but also has an independent social - media account. In the future, the company will carry out diversified development around this IP, aiming to build a complete "Duck Universe".

"We want to combine tea - beverage with IP, which is also to increase the differentiation of the 'LINLEE' brand in emotional consumption beyond the products."