Tianjin "Dog Ignore" has also begun to sell coffee! Giants have entered the market, and PetroChina's annual income from selling coffee has exceeded 100 million

The "Daily Economic News" reporter learned that on February 23, a news of Tianjin's "dog ignoring" cross-border coffee sales triggered a hot discussion in the industry.

Qixinbao data show that on the 22nd, a company named "Gaoleya Coffee Food (Tianjin) Co., Ltd." was formally established with a registered capital of 500,000 yuan, and the wholly-owned shareholder behind it is Tianjin Goubuli Food Co., Ltd., and the legal representative is also Zhang Yansen, chairman of Gobuly Group.

Interestingly, just a few days ago, the news of the official opening of the country's first "post office coffee" in Xiamen swept the screen, and China Post has also become another entrant to the "coffee war" after Sinopec and PetroChina. Coupled with the "bun + coffee" cross-border dog disregard, more and more giants are joining, coffee is still a good business?

Under the advantages of channels and costs

Chain giants have sold coffee across borders

The consumption potential is large, the frequency is high, and the growth is fast, making the coffee track a "fragrant feast" in the eyes of capital. Even when the two giants of Luckin and Starbucks are fighting each other, there are still a number of "players" competing to enter the game.

In fact, as early as 2015, it was reported that a wholly-owned subsidiary of Dogbury Group won the franchise of Koleya Coffee in China for 6 million Australian dollars. But it is worth noting that "Dog Ignore" is not the first company to sell coffee across borders.

In 2018, PetroChina established "Kunlun Hospitality Coffee", and its Kunlun Hospitality Convenience Store quietly sold freshly ground coffee; public information shows that in 2021, hospitality coffee sales exceeded 100 million, and the product line included freshly ground coffee and ready-to-drink coffee. In 2019, Sinopec EasyJet Convenience Store, which has nearly 30,000 stores, released a new brand "EasyJet Coffee" and settled its first store in Suzhou, which marked Sinopec's official entry into the coffee field; from the pricing point of view, the price range of "EasyJet" products is mainly 12 to 28 yuan.

On February 14 this year, China Post announced in a high-profile manner that the country's first post office coffee shop will officially land in Xiamen, selling products including coffee, tea, desserts and post office areas. From the price point of view, the price range of post office coffee is mainly in 20 to 40 yuan.

In this regard, market analysis pointed out that chain giants selling coffee across borders has inherent advantages in outlet channel resources and store costs and traffic. Previously, the "two barrels of oil" and "post office" that made high-profile entries into the coffee industry were "national teams" with tens of thousands of outlets across the country.

Such cases are more common in overseas markets, with British BP Oil, Dutch Shell Oil, Thai Oil Company, etc. all having coffee stores in their gas stations, and the operation effect is quite good.

In 2019, the economic hotel chain "OYO", which is trying to expand wildly in China, also quietly laid out coffee, launched its own brand "Fenran Coffee" in its hotel, and landed its first store in Xi'an. At that time, the company released data that it had 13,000 hotels in more than 300 cities across the country. It also wants to expand revenue channels with ready-made stores and hotel passenger flows.

Capital is hot

What is the coffee business like?

Is coffee a good business? The answer is clearly yes.

According to the CITIC Securities Research Report, since 2015, China's coffee market has gradually formed a clear price band, bringing multiple growth opportunities. The trend of industry branding has significantly led to an increase in concentration, and Starbucks has a solid position as the leader, but the aesthetic price band (40+ yuan / cup) on it and the parity price band below it (15 to 30 yuan / cup) have run out of the new head of differentiated competition. Referring to the situation of the overseas coffee shop market, combined with the industry scale of 200 billion yuan in 2030 and the single store volume assumption of 2 million yuan / year, it is expected to give birth to local brands above the scale of 10,000 stores.

Because of this, this track has squeezed in a large number of players, such as PetroChina, Sinopec, China Post and the dog ignored today, and the enthusiasm of capital is even higher.

According to the "2021 Top Five "New Catering" Track Investment and Financing Data Report", the capital market accelerated the pace of investment in the coffee market in 2021, and the total amount of financing disclosures related to the domestic coffee industry in the first ten months was close to 6 billion yuan. Some popular brands even got two or three rounds of financing in the first half of the year, and the amount exceeded 100 million, shining in the so-called "capital winter".

Just a few examples. From June to July last year, a number of coffee brands announced financing news, of which the specialty coffee brand Seesaw announced the completion of the A+ round of financing of more than 100 million yuan, the new tea brand Xicha as a strategic investor into the shares; the new coffee chain brand M Stand then announced the completion of more than 500 million yuan of B round financing, setting a record for the largest B round of financing in the coffee circuit at that time; in the same period, the convenience coffee brand Three and a half, Shicui SECRE, Yongpu and so on have officially announced that they have obtained financing of 100 million yuan, which shows that the market is hot.

If a few years ago, when the coffee circuit was just starting to heat up, a wave of growth could make all ships sail, today, the direction of the tide is changing. With the help of capital, some new brands have risen rapidly in a short period of time, while other well-known old brands are sprinting through chain stores, advancing into shopping mall development, and breaking through the white-collar circle to become popular. The rich format of China's coffee market provides players with a broad world, and also lays the tone that not only the entry of giants is a "dimensionality reduction strike".

It is undeniable that for a long time, coffee was still a good business and a good track. An industry white paper released by a third-party research agency predicts that by 2025, the scale of the freshly ground coffee market will reach nearly 219 billion yuan, and the compound annual growth rate in the last three years will be greater than 20%.

Reporter | Li Lei and Tang Ruyu

Editor| Xiao Ruidong, He Xiaotao, Wang Jiaqi, Yi Qijiang

Proofreader | Sun Zhicheng

| the original article of the daily economic news nbdnews |

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