On November 20, Deloitte‘s 2019 Top 50 High Tech Growth Companies in China and China’s Tomorrow Star Award winner was announced in Chengdu. RELX was rated as “2019 China’s Tomorrow Star” and the only e-cigarette brand on the list by virtue of its global high growth and innovation in the e-cigarette industry.
The selection is a growth enterprise selection activity sponsored by Deloitte China, aiming to recognize the early enterprises that are in the leading position in the subdivision field and have great growth potential. In 1995, the event originated in Silicon Valley of the United States, and is held in dozens of countries such as the United States, the United Kingdom, Germany, Japan and China. The selected enterprises are praised as “the benchmark of global high growth enterprises” by the mainstream media.
With the rapid outbreak of China’s e-cigarette industry, improving solid product quality control and supply chain R & D is the core competitiveness and value of the enterprise, which is also the key reason why RELX is recognized. Among the numerous independent e-cigarette brands in China, RELX first established a laboratory, mainly engaged in the safety detection and innovation research related to e-cigarette. At present, the laboratory is also the only one of the independent e-cigarette brands in China, which has invested more than 20 million yuan since its establishment. Relying on the laboratory, RELX has established the industry’s most stringent standards for e-liquid enterprises to ensure product quality and safety. In addition, RELX’s investment in technology R & D and innovation has also been highly recognized by review experts. As of October 16, RELX has applied for more than 170 patents in the world, of which more than 50% are classified as “invention patents”, becoming the independent e-cigarette brand with the largest number of patent applications in China. In the aspect of supply chain, different from the pure OEM “single production” mode of most e-cigarette brands, in September this year, RELX, on the basis of ensuring its original supply chain system, opened the world’s largest exclusive e-cigarette factory, realized the integration of internal and external advantages and resources in the production and manufacturing process, and more closely integrated the design, research and development, production and other processes to ensure the product progress The bank’s most effective quality control, at the same time, this initiative has also formed a new demonstration role in the industry. According to public information, the factory covers an area of more than 20000 square meters, has more than 4000 workers and can produce 50 million pods per month at its peak. The quality supply chain team with more than 150 people controls each process of incoming materials, production and finished products, 58 inspection processes, and implements the most strict sampling process in the industry.
According to reports, the number of pods and cartridges consumed by RELX in one year for quality sampling is more than 2 million, which alone has exceeded the total number of pods sold by many e-cigarette brands in one year. Thanks to in-depth management and control on quality and supply chain, since the formal mass production of RELX in April 2018, the production of pods of RELX has increased by more than 160 times. According to Euromonitor Euromonitor, a well-known market research organization, RELX occupied 44% of the market share of the domestic pod system market in the first half of this year, far exceeding the total of 2 to 10. According to the internal estimation of RELX, the domestic market share of RELX in August has exceeded 60%. Since October 2018, with the development of overseas market, the global business of RELX has grown rapidly. Relx RELX products have entered 43 countries including Canada, the United Kingdom, New Zealand, etc. In 2019, overseas business accounts for 25% of the company’s overall revenue, which is expected to increase to 50% in the next two years.
At the same time of building hard strength, RELX requires itself to practice social responsibility with a “real responsibility” mentality. Since its establishment in 2018, it has taken the lead in launching the “Guardian Plan” aimed at protecting minors from e-cigarettes. After the announcement issued by the State Tobacco Monopoly Bureau and the State Administration of Market Regulation and Administration on November 1, RELX took the lead in responding to the requirements of the announcement. By the middle of November, the national store Guardian plan of RELX had basically completed the upgrade, and the guardian plan logo show up accounted for more than 30% of the total store poster area. On November 5 this year, RELX announced that it would invest 700 million yuan in the next 18 months to launch the second phase of the “Guardian Plan”. Kate Wang, founder and CEO of RELX, said that the core task of this stage is to empower social responsibility with technology and build a “Sunflower” system aimed at protecting minors. This set of “industry strictest” barrier system will be applied to all offline retail outlets of RELX one after another, to prevent minors from buying e-cigarettes in stores through a comprehensive intelligent verification scheme.