"Sauce wine" may have chosen the wrong one?
Text | Selling Wine Wolf Team
Ed southerly
On November 6, Laiyifen told the media that its subsidiary, Shanghai Zuiai Liquor Co., Ltd., had reached a cooperation with Guizhou Qianzui Liquor Industry.
According to the relevant person in charge of Laiyifen, the two sides will work together to establish a joint venture liquor company to carry out in-depth cooperation. This cooperation is considered to be a signal from Laiyifen to the outside world to continue to increase the soy sauce and wine industry.
▲ Liu Fanqiang, general manager of Zuiai Liquor
At the meeting, the two sides also jointly launched the first new product after cooperation - 53° Drunken Love Classic Sauce Flavor Wine. Liu Fanqiang, general manager of Zuiai Liquor, said that its product positioning is Shanghai-style sauce, based in Shanghai and radiating across the country. On the basis of the outstanding aroma of traditional soy sauce wine, the taste of the wine is integrated with the mellow and elegant Shanghainese style, the taste is fuller and the layers are richer, and the packaging is added with the rich Shanghainese elements with the above beach as the main tone, highlighting the aesthetic essence of the Shanghainese style and stimulating the emotional resonance of consumers.
A
Two unfamiliar names: Laiyifen and Drunken Love Liquor
Laiyifen and Zuiai Liquor Industry, these two names must be very unfamiliar to most liquor practitioners. The former comes from the snack industry, and the latter is a "latecomer" in the liquor market, which was only established in 2018.
Founded in Shanghai in 2002, Laiyifen is positioned in the mid-to-high-end snack market, mainly selling its own brand leisure snacks in all channels through commissioned production, with products covering more than 1,400 products in 12 categories.
In October 2016, Laiyifen was listed on the main board of the Shanghai Stock Exchange, becoming the first stock of leisure snacks in China. The IPO share price was 11.67 yuan per share, and then the stock price soared, rising to 56.54 yuan 30 days later, which was the most glorious period of Laiyifen.
Shanghai Zuiai Liquor Co., Ltd. was established on December 28, 2018, and its registered place is located in Room 201, 1st Floor, Building 26, No. 855, Jiuxin Road, Jiuting Town, Songjiang District, Shanghai, and the legal representative is Liu Fanqiang.
As the first stock of leisure snacks in China, why did Laiyifen "cross-border" to establish a liquor company? By combing through various information, it can be seen that the continuous decline in performance may be the "answer".
According to the third quarter report of 2023 released by Laiyifen, its revenue in the first three quarters was 3.002 billion yuan, a year-on-year decrease of 7.61%; The net profit was 4.5428 million yuan, down 93.57% year-on-year, and the non-net profit loss was 31.4552 million yuan, down 166.12% year-on-year, and profits both declined. From the perspective of net profit, Laiyifen Q2 and Q3 have lost money for two consecutive quarters.
It should be noted that in addition to the declining performance dilemma, which forces Laiyifen to urgently find new performance growth points, the fierce competition in the snack food industry is also an important factor that prompts Laiyifen to cross borders.
According to iiMedia Research, the growth rate of the snack food market has dropped sharply in the past four years, from 6.6% in 2019 to only 0.32% in 2022, not even 1%.
B
Continue to add sauce wine
Difference in profession makes one feel worlds apart!
It is understood that from 2021 to 2022, the operating income of the company to which "Zui Ai" belongs will be 8.671 million yuan and 5.613 million yuan respectively, which accounts for a negligible proportion of Laiyifen's total revenue of 4.172 billion yuan and 4.382 billion yuan. In the first half of 2023, Zuiai Liquor will achieve revenue of 4.0816 million yuan, accounting for 0.19% of total revenue.
From the above data, it can be seen that Laiyifen's liquor business is not developing well, but this is the already somewhat bleak data, which still has not stopped Laiyifen's footsteps in the soy sauce wine market. On the contrary, the poor results seemed to stimulate Laiyifen, which turned on the acceleration mode on the soy sauce wine track.
▲Dai Yi, director of Laiyifen and president of Aiwu Enterprise Management
Dai Yi, director of Laiyifen and president of Aiwu Enterprise Management, said: "Because of the wine, we have contributed to the signing of a strategic cooperation with Qianzui Liquor Industry, and this cooperation will also promote Laiyifen's liquor industry to a new height. In the future, the two companies will carry out all-round cooperation in production, R&D, digital industry and marketing, take root in Renhuai, look to the world, let the soy sauce wine of Moutai Town enter thousands of households, and build the foundation of a century-old brand of Zuiai. Through the all-round strategic cooperation between the two sides, we can achieve complementary advantages, resource sharing, create differentiated market core competitiveness, achieve mutual success, and achieve a win-win situation. ”
Plans, goals, and products are all in place, but the soy sauce wine market at this stage is "blood red".
From the perspective of market trends, it is a recognized fact that the stronger the stronger, Moutai, Xijiu, Langjiu, Guotai, etc., these head soy sauce and liquor companies occupy "most of the sky", and every step of ordinary liquor companies and later brands is moving forward under pressure.
In addition, from the perspective of the development of the entire liquor market, since 2023, everyone has taken "destocking" as the top priority. Even though it has reached the "fourth quarter", the task is not completely over, and unfavorable situations such as price inversion and slow sales still exist.
In the face of weak consumer demand in the market, even large enterprises and big brands can only exchange sales with promotions.
The most important point is that "interlacing is like a mountain", from casual snacks to the soy sauce and wine market, such a change, does Laiyifen really have enough talent reserves for brand promotion and product sales? The liquor market is large and the prospects are good, but it may not be suitable for all businesses. #MyLifeDiary##Liquor##头条酒馆#