The grocery chain, which currently has a $1.2 billion valuation, is expanding aggressively in its home country of China. Like a restaurant chain using "dark kitchens" with no retail restaurant counter or dine-in facilities to fulfill delivery orders in the immediate area, Missfresh's "dark stores" use a delivery-only model. During the company's Nov. 11 earnings call, founder and CEO Zheng Xu claimed the DMWs are "offering over 5,000 SKUs and a delivery time of 36 minutes on average per order." The model is intended to appeal to the "more convenient and high-quality lifestyle" Chinese middle-class shoppers are seeking, according to Xu.
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