With Apple's "king fried" product Vision Pro, the enthusiasm of the technology circle has been ignited again. And the entire XR headset field has also made waves again due to the emergence of Apple's Vision Pro.
In stark contrast, offline VR experience stores seem to be fading out of the public's field of vision, and they are rarely mentioned in recent public reports. It seems that they are "hibernating".
When it comes to offline VR experience stores, the company that can't be avoided is Leke (full name "Hangzhou Leke Lingjing Virtual Reality Technology*** In February last year, Leke held a brand strategy conference in Beijing and announced the completion of nearly 100 million yuan in Series B financing.
At the same time, Leke VR will also upgrade the strategy of "100 cities partnership, 1,000 stores". In 2023, He Wenyi, the owner of Leke, once told ** that Leke has opened more than 400 joint stores under the joint operation model, and the current stage of the "100 cities and 1000 stores" strategy is to develop 1,000 joint stores in 2023.
Now, a year has passed, how many KPIs of Leke's "100 cities and 1000 stores" plan have been completed, and whether they have been exceeded. More than that, He Wenyi once said, "We hope that by 2035, Leke VR can become the largest VR content distribution platform for VR offline entertainment, open 100,000 VR experience stores, and serve 1 billion users." ”
On the one hand, Leke is making great progress, and on the other hand, this star company itself has been involved in a lawsuit - the founder's company, Beijing Ledong World Entertainment, has been sued by Beijing Happy Space Decoration Engineering Design, the reason is that the project payment is in arrears.
Later, due to the cancellation of Beijing Ledong World Entertainment Enterprise, Leke and He Wenyi were added as executors by the Beijing Happy Space Decoration Engineering Design.
In addition, due to the dispute over the right of recourse for bills, Jinan Xinyarui Economic and Trade *** also took Leke to court. Last year, the court ruled that Leke should pay 51 electronic commercial acceptance bills to Jinan Xinyarui Economic and Trade Co., Ltd272389 million yuan and interest, etc.
01.He Wenyi's luxurious "circle of friends".
As everyone knows, this Leke, which is known for its offline VR experience store, hides many capital predators behind it. According to the data, Leke was established in March 2015 with a registered capital of 1111930,000 yuan, the boss He Wenyi is the legal representative of the company.
At the company's equity level, He Wenyi, Beijing Leke Lingjing Investment Management Center (Limited Partnership), Qingdao Haier Saifu Smart Family Venture Capital Center (Limited Partnership), Yangtze River Delta Shuwen (Shaoxing Shangyu) Equity Investment Partnership (Limited Partnership), Beijing Zhongnuo Vision Innovation Investment ** Center (Limited Partnership) and other 16 institutions and natural persons respectively hold 06559%-27.6406% of the shares.
Among them, He Wenyi, as the major shareholder of Leke, holds 276406% shares; As the second largest shareholder of the company, Beijing Leke Lingjing Investment Management Center (Limited Partnership) holds 176404% of the shares, He Wenyi is also the executive partner and actual controller of this partnership, holding 7470% of the shares.
It should be noted that Beijing Leke Lingjing Investment Management Center (Limited Partnership) may be a hidden "wealth creation plan" for Leke executives, and most of the partners are also Leke executives. For example, Shao Wei, a corporate partner, is also a director of Leke, and Yang Xiangming, a corporate partner, is also a director of Leke.
Qingdao Haier Saifu Smart Home Venture Capital Center (Limited Partnership) holds 121739% shares, is the third largest shareholder of Leke. It is worth noting that the listed company Haier Smart Home is the "major shareholder" behind the partnership, holding 631250% equity.
As the fourth largest shareholder of Leke, CCB International's Yangtze River Delta Shuwen (Shaoxing Shangyu) Equity Investment Partnership (Limited Partnership) holds 71783% shares.
Not only are companies such as Haier and CCB International as their "platform", but also Beijing Zhongnuo Vision Innovation Investment Center (Limited Partnership), a subsidiary of Zhongguancun Development, stands behind Leke and holds 47856% shares.
In addition, the state-controlled listed company Palm Eco-Town Development Co., Ltd. is also a shareholder of Leke and holds 3599% shares; Beijing Zhangqu Technology Co., Ltd., a listed company, is also one of the shareholders of Leke.
In addition, there are also subsidiaries such as Hejun Capital and Tsingke Venture Capital among the shareholders behind Leke. I have to say that Leke is "blessed" by these head capitals, and may be more smooth in development.
Although Leke is only a new company in the XR field, it has a capital territory that should not be underestimated. According to the data, up to now, there are 8 enterprises in existence and business in Leke's foreign investment.
For example, Beijing Leke Aoyi New Culture, Beijing Leke Interactive Entertainment Technology, Guangzhou Leke Lingjing Technology, Guangzhou Legong Electronic Industry Co., Ltd., etc., are distributed in Beijing, Guangdong, Jiangsu, Tianjin and other places.
02.How much has "100 cities and 1000 stores" completed?
According to the information on the official website, Leke has been committed to promoting the deep integration of the "technology + entertainment" industry for many years, and innovatively adopted the business model of "100 cities and 1,000 stores" to open a new brand road.
Its VR chain brand "LEKEVR Technology Entertainment Space" focuses on family parent-child consumption and children's virtual reality experience, and creates a comprehensive experience store with VR technology attributes and children's entertainment attributes with the concept of "technology empowers entertainment, let love accompany children to explore the unknown world".
In fact, as the official website information introduces, it has "ambitions" for expansion. In February last year, Leke held a brand strategy conference in Beijing. At the meeting, He Wenyi interpreted the 2023 strategy of Leke, Leke VR will focus on the comprehensive upgrade of the content ecology and build a VR+IP content ecology, and at the same time, Leke VR will also upgrade the strategy of "100 cities partnership, 1000 stores association".
In the news on the official website last year, Leke once mentioned, "Joining Leke VR, you will get your own exclusive customized joint venture plan and 10 major operation support services." We already have more than 400 franchised stores, and we will exceed 1,000 by the end of 2023. ”
However, since the end of 2023, there has been no disclosure of the number of stores in the public information.
It is worth noting that Leke mentioned that its joint operation model is a one-stop operation service model covering project site selection, opening, personnel training, marketing planning, game content updates, software and hardware development, system upgrades, and equipment repurchase. The initial investment of a single store is about 30.4 million yuan, and the average payback period is less than 1 year.
First of all, the 30-square-meter island store model disclosed on the official website, its equipment combination is mainly for viewing equipment, supplemented by interactive equipment, starting from 4 standard equipment, and the equipment budget is 16From 20,000 yuan. It is not difficult to see that the budget disclosed by it is only the equipment budget, and the rent, decoration, labor and other expenses are not included.
In Beijing, Leke has dozens of stores, and on a life platform, most of its ratings are concentrated in 33-4.0 points, but it is worth noting that many Leke stores are in a state of "closed down".
Since it is an investment, there are still a lot of risks for investors. This kind of audience is mainly focused on children, and there is a lack of high-quality VR content at present, and the degree of pastion of children is reduced after the end of the hunting psychology.
In addition, with the gradual maturity of XR headset technology in the market, ** has gradually decreased, and it has to be said that this is also gradually encroaching on the offline market such as VR experience stores.
03.Is Leke short of money?
Actually, the founding of Lucko was in the midst of a lot of news in XR. In July 2014, Facebook announced the acquisition of Oculus for $2 billion. In Facebook's view, Oculus' technology has opened up new experiences and possibilities, not only in the field of games, but also in life, education, medical care and many other fields.
In 2016, there was a global VR boom. Oculus and HTC have launched consumer versions of VR headsets, opening the "first year of VR" that is widely rumored in the outside industry. According to institutional data, in 2016, the investment and financing scale of VR and AR industries at home and abroad increased significantly year-on-year.
At that time, during the XR dividend period, Leke had received an angel round investment of millions of yuan from Hejun Capital since its inception. Since then, in January 2016, Leke completed the A round of financing, and received the favor of Jiuhe Venture Capital, Western Capital, Qingke Venture Capital, Hejun Capital, SAIF Investment** and other capital parties; In March of the same year, Leke immediately completed the A+ round of financing, and the capital parties included Palmfun Technology, Hejun Capital, Palm Garden, etc.
In other words, in less than a year, Leke has completed 3 rounds of financing. In fact, after experiencing the climax of the XR industry development in 2016, the industry has fallen into a cold winter in the following years.
In the years since, there has been no disclosure of the financing news. Until February last year, Leke announced the completion of a total amount of nearly 100 million yuan, this round of financing led by the Yangtze River Delta Digital Text, followed by Zhongguancun Zhongnuo, Hailan Capital provides exclusive financial advisory services. After the completion of this round of financing, Leke will continue to carry out brand building and expand the scale of joint ventures nationwide.
Since the completion of the financing last year, until now, there has been no news of financing from Leke. On the other hand, the expansion plan of "100 cities and 1000 stores", is Leke short of money? Perhaps this is the one who knows better.
However, a judicial case about Leke has come into our field of vision, and for this reason, Leke has also been listed as the person subject to execution by the court. It can be said to be a case of collecting arrears for a project that spans 4 years.
The reason is a dispute over the decoration contract, and Beijing Ledong World Entertainment, which is jointly invested by Leke and He Wenyi, has owed Beijing Happy Space Decoration Engineering Design *** hereinafter referred to as "Happy Space") project payment. In 2018, after mediation by the court, it was ruled that Joy World needed to pay the other party 170,000 yuan for the project and interest.
After the mediation takes effect, Happy Space applies to the court for enforcement. Since there is no other property available for enforcement, the court issued the (2018) Jing 0108 Zhi No. 12274 Enforcement Ruling, ruling that this enforcement procedure should be terminated.
It is worth noting that in the case of not paying off the arrears, Joy World issued a cancellation announcement on ** on October 25, 2018, and made a liquidation report on January 4, 2019, indicating that the debts and debts have been cleared and the unfinished matters after cancellation shall be borne by all shareholders.
Therefore, Happy Space applied to add He Wenyi and Leke as the executors of the case, and this request was also supported by the court. In this regard, He Wenyi and Leke filed an application for reconsideration, but it was ultimately rejected by the court.
In November 2022, He Wenyi and Leke added information on the person subject to execution, and a few days later, He Wenyi was also "hit" by the restriction order.
According to the data, Joy World was established in March 2016 with a registered capital of 6.5 million yuan. Before the cancellation of the music world, the company was held by Leke and He Wenyi. 01%。
In addition, due to the dispute over the right of recourse of bills, Jinan Xinyarui Economic and Trade took Leke to court. Last year, the court ruled that Leke should pay 51 electronic commercial acceptance bills to Jinan Xinyarui Economic and Trade Co., Ltd272389 million yuan and interest, etc.
In fact, integrity is particularly important for any business. On the one hand, Leke is ambitious to expand, but on the other hand, it has been sued in court for money, which may be what Leke needs to pay attention to in the future.