When she was in middle school, Lian Niannian told her family that she wanted to open a pet store. At that time, she never thought that she would really start a pet supplies company, FURRYTAIL, whose annual sales are expected to reach RMB120 million with less than two years' development. As the CEO and founder, Lian Niannian has been awarded the 2019 Hangzhou Top 10 Female Entrepreneurship Award.

Full preparations for entrepreneurship

At UNNC, Niannian studied International Business Economics in the business school.  She said, compared with some conventional university education, which is more theoretical, UNNC focuses on practice, with theoretical knowledge accounting for only part of the final grade. All kinds of activities, including entrepreneurial projects, have greatly exercised her comprehensive skills and business thinking. She was very impressed with the 'Elevator Pitch' which was taught in an entrepreneurship module. Volunteer teaching and internships gave Niannian a clearer understanding of herself. With her excellent academic performance and outstanding experience, she went to London to study Management after her undergraduate study.

When other students were busy with attaining various financial certificates, Niannian was occupied by matters related to pets: learning professional pet-related care, knowledge and understanding pet economics. She even worked in NetEase’s e-commerce pet operations and there, she met many successful people, two of whom later became her entrepreneurial partners. She knows what she wants. 

Founded FURRYTAIL and achieved great success

In March 2018, FURRYTAIL was officially established, which is the first full-category cat lifestyle brand in China. Niannian said that the process of finding venture capital was relatively smooth. The company is almost 2 years old and has completed five rounds of financing up till now. In Niannian’s view, it mainly depends on two points. First, they came up with a new business model, crowd branding, focusing on young women who have just started becoming cats owners, have the affordability and are willing to spend 10 to 15 years as cat pet owners. Second, she and her team are specialists when it comes to cats. Especially when doing things without reference from before, including making platforms and products, it requires a very persistent team of users with deep understanding. No one knows better than them. In one and a half years, she developed the company into a team of 120 people, which was enough to confirm to the investors what they wanted to see with the company's growth. The management team, as Niannian stated, is not all young like her, but also has senior executives associated with the industry, who have experience and resources of more than 10 years. The cross-border and complementary management team allowed investors to dispel their concerns.

At present, FURRYTAIL has launched a total of 21 products and 61 FMCG (Fast Moving Consumer Goods) products, covering almost all kinds of cats-related goods. FURRYTAIL has become the first cat lifestyle brand in the market. On product detail design, FURRYTAIL has also been trying to strengthen emotional links between people and cats, such as personalised mixed cat food, intelligent feeders, DIY produced cat grass and so on, all of which are unanimously well recognised by cat owners and the reputation of the company quickly converted into performance. During Singles’ Day (Double 11), sales on the whole platform surpassed RMB1 million only after five minutes and total sales eventually reached RMB11 million. Moreover, annual sales are expected to reach RMB120 million. Such figures have allowed FURRYTAIL to become one of the fastest-growing domestic pet industry brands.

Keep fighting and aiming high

Looking back over the past year, Niannian said, they were a team that works with enough effort, luck, and passion. Hard work is the most basic requirement for starting a business. It is love which accounts for the major reason for achieving this size so quickly. Also, they were lucky enough to seize opportunities in the pet economy and made wise decisions at every key turn, without missing the opportunities and resources.

Despite today’s achievements, Niannian only gave a passing grade to herself and her team. "At the beginning of the brand, we did not pursue profits, hoping to make full strategic use of high levels of cost-effectiveness, so that cat owners can stay with the FURRYTAIL brand. Now the capital market requires the team to make a rapid transformation to profitability. Therefore, no matter whether we continue to raise funds in the capital market or not, we need the company to develop a fast and positive cash flow and produce profits, to verify that the brand really has a core position in the market. If there is a good cash flow and profit, then I will give the team a score above 80 percent."

Now, FURRYTAIL has a team of 120 people and Niannian said that it will expand next year. "It's a challenge for me and for all partners." They need to think about the management architecture, corporate culture, value delivery and so on. In the process of starting a business, it is necessary to constantly adjust the sales strategy, product matrix, and brand communication channels. Niannian said, up to this month and everything before it represents the company’s 1.0 era. Next year, the company will enter the 2.0 era, "that is, FURRYTAIL can possess stronger profitability to achieve high-quality and high-speed growth. Thus, we are aiming to be listed, in hopes of making us the first listed whole category lifestyle company in this industry."

In the interview, we asked about parental support. Niannian said that she is always grateful for her parents' great support financially and morally. Her parents' 'hardworking' and 'always ready to embrace uncertainty' attitudes influenced her a lot. 

Best wishes to Niannian!