Pet Fresh (派特鲜生) was Hou Yi's post-Hema gamble — ¥180M raised, stores closed in 9 months

Pet Fresh (派特鲜生) was founded in early 2025 by Hou Yi, the entrepreneur who created Hema (Freshippo) for Alibaba and built it into China's most influential new-retail chain. The concept was a fresh pet-food brand combining online DTC with physical stores offering made-to-order fresh pet meals, retail products, and a 'pet-friendly' social space. In May 2025 Hou Yi raised US$25 million (roughly ¥180 million) in angel funding for the venture.

The plan was ambitious: 100 stores in Shanghai, a discount retail model, livestream e-commerce, and fresh pet food priced at ¥11-12 per 100g. The reality was far harsher. China's fresh pet-food penetration was only about 5%, far too small for a chain. Online industrial brands sold fresh food at ¥4 per 100g — less than half Pet Fresh's price. The social-space concept was not a repeat-purchase driver; pet owners can visit a park for free. And pet food is a planned purchase, not an instant-delivery need — the '30-minute delivery' advantage that built Hema did not apply.

By November 2025 Hou Yi admitted in an interview that the offline stores were losing heavily and would all close within one to two months. The total lifespan from first store to full offline exit was about nine months. Only a small online operation would remain. Hou Yi's own assessment: 'The biggest lesson is that my understanding of this industry was not deep enough. Looking at the data on the surface, I thought I understood, but after getting into it, many of my plans were naive.' He said he would return to fresh food, the business he knows.