"The car burns out the cup and the ice cubes are still there", this thermos cup is selling well in the United States, and fans queue up at 2 o'clock in the morning to buy it! Chinese OEM companies have also made a profit
Every reporter: Ye Xiaodan Every editor: Lu Xiangyong, Dong Xingsheng
This winter, the North American thermos cup brand Stanley became popular overseas, gained a lot of attention on overseas social platforms, and became a fashionable item that everyone wants to start. It has also gained a lot of fans on domestic social platforms, and there are currently more than 50,000 notes about the Stanley brand on Xiaohongshu.
The hot sale of this thermos cup has also driven the performance growth of China's listed companies behind the OEM.
Stanley is popular overseas
It is understood that Stanley is not an emerging brand, but an old brand with a history of more than 100 years, famous for producing thermos, mainly for outdoor sports and blue-collar workers.
But now, it has become one of the representatives of overseas "fashion".
According to previous media reports, in 2016, Stanley launched a water cup called Quencher, priced between $45 and $55, featuring a hand-held, stylish shape and easy to carry. With a capacity of about 1.18 litres, the "Quencher" thermos cup is known as the "Big Mac Cup" in the Chinese market.
Initially, the response to the Quencher bottle was so lackluster that Stanley had to stop restocking and promoting the product in 2019 due to poor sales.
It wasn't until 2020 that a shopping guide website that mainly caters to female consumers vigorously promoted this cup, which made the product begin to have a certain popularity on social media platforms, and then became one of the site's popular best-selling products.
In November 2023, a woman abroad shared a video on social media: her car was on fire, and the only thing intact in the car was the Stanley water cup, and even the ice inside had not completely melted. This ten-second video went viral on the Internet, with a total of 80 million views in just 4 days.
Screenshot of overseas social media
Stanley's CEO quickly saw the video and quickly responded, thanking the user for the free ad, saying that he would not only give a new water bottle, but also promise to give the woman a car.
In January 2024, after Stanley and Starbucks collaborated on the shelves of Target, a new Valentine's Day pink limited edition Quencher water cup, which attracted a large number of people to rush to buy it, and some people even started queuing at 2 o'clock in the morning.
The performance of OEM listed companies behind it has increased significantly
Stanley's hard to find a cup has also led to the performance of its OEM suppliers. It is understood that Stanley is the main customer of Jiayi shares, a domestic listed company, and Jiayi shares produce water cups for its OEM.
On January 25, on the investor interactive platform, in response to investors' questions, Jiayi said that the company and Stanley have been cooperating for many years and have maintained a good and stable cooperative relationship.
On January 17, Jiayi Co., Ltd. disclosed the 2023 performance forecast, and it is expected that the net profit attributable to shareholders of listed companies in 2023 will be 450 million yuan - 475 million yuan, an increase of 65.5% - 74.7% over the same period last year. Jiayi shares said that the reasons for the growth of performance include the continuous improvement of the terminal market, the saturation of the company's orders, and the significant scale efficiency.
On January 31, a reporter from the "Daily Economic News" called Jiayi shares to learn about the company's orders, but the company's staff did not disclose it on the grounds that it involved the letter disclosure.
Judging from the data of the 2022 annual report of the listed company, the sales of Jiayi shares to the top five customers accounted for 93.87% of the total annual sales. Among them, the sales of the largest customer accounted for 68.30% of the total annual sales. It is not difficult to see that Jiayi shares' dependence on the top five customers remains in a high range.
For the company's 2023 performance forecast, Founder Securities Research Report believes that the diversification of application scenarios + the enhancement of the consumption attributes of thermos cups will promote the continuous prosperity of overseas terminal sales. Driven by the restoration of outdoor consumption scenes, the high popularity of outdoor travel and related consumption in the United States has driven the continuous expansion of the thermos cup market, and the import value of U.S. thermos cups will increase by 58% and 70% respectively in 2021 and 2022.
In addition, with the continuous extension of application scenarios, consumers tend to buy multiple thermos cups to match the needs of different scenarios, such as long-distance driving, consumers pay more attention to the thermal insulation performance and capacity of the product than the portability. At the same time, with the enhancement of consumers' purchasing power, the thermos cup has gradually transitioned from functional products to consumption, especially the IP co-branded limited edition products have stimulated the purchase enthusiasm of the younger generation of consumers, further improved the speed of product replacement for consumers, and promoted the increase of product premium.
China is the world's largest exporter of stainless steel vacuum mugs. Tianfeng Securities pointed out that in 2023, the export prosperity of thermos cups will be high, and the consumption attributes of product IP and explosive models will be highlighted. From the perspective of capacity deployment, the production capacity of Jiayi shares will be further expanded in the future. However, how long will the boom of explosive OEM last?
In an investor survey on January 22, Chen Diansheng, assistant to the chairman of Jiayi Co., Ltd., revealed that he was optimistic about the order expectations for 2024. The US dollar interest rate hike in the early part of 2023 has led to the US thermos cup companies being more cautious about sales and in the destocking stage, and the interest rate hike will slow down in late 2023 and there is an expectation of interest rate cuts in 2024, and downstream customers are more optimistic about 2024 and have entered the state of replenishment. In the first half of 2023, the amount of thermos cups exported by China to the United States declined year-on-year and began to grow in the second half of 2023, and downstream customers in the United States remain more optimistic about the development in 2024 and beyond.
It is understood that at present, Jiayi Co., Ltd. is expanding its production capacity, including the production and construction project of 13.5 million stainless steel vacuum vacuum cups in Vietnam. In the investor survey on January 22, Jiayi shares revealed: "Vietnam is our first time to go to sea, the main body of the plant has been completed, others are still under construction, and the specific time of shipment is still uncertain." ”
(The content and data in the article are for reference only and do not constitute investment advice.) Investors act accordingly at their own risk. ）
Reporter|Ye Xiaodan, Editor|Lu Xiangyong, Dong Xingsheng, Du Hengfeng, Proofreading|Duan Lian
|National Business Daily nbdnews original article|
Reprinting, excerpting, copying, mirroring, etc. without permission is prohibited
National Business Daily