- Chief Business Intelligence
- Chief Business Intelligence
Introduction: Another brand has become an "outcast".
On April 19, Jiumaojiu Group released the "Latest Operating Performance in the First Quarter of 2024", which showed that its light luxury Cantonese cuisine brand "Uncle Nawei is a Chef" will cease operation this month, and the brand information has been deleted from the official website.
However, according to the report of Jiemian News, Jiumaojiu Group did not close the store, but transferred it to a third party to operate, and the store is still in normal business, and the new menu has also been updated.
A Cantonese restaurant with an annual income of 10 million
was also abandoned by Jiumaojiu
Uncle Nawei is a chef, a sub-brand launched by Jiumaojiu Group in June 2019, and since its inception, it has only opened 1 store in Shenzhen and 1 store in Guangzhou, that is to say, Uncle Nawei only has 2 stores nationwide.
As soon as I heard the name "Uncle Nawei is a chef", the sense of Internet celebrity is very heavy, and the uncle's gentleman blue MIX rose gold theme space and bells and whistles operation, aside from the factory setting, this aesthetic, style and decoration are piled up with money at a glance, and the word "high-end" is revealed inside and out.
It is understood that Uncle Nawei's menu is tailored by the team of Master Gu Zhihui, the "Godfather of Cantonese Cuisine", positioning light luxury and creative new Cantonese cuisine, and it will also be shortlisted for the "Black Pearl Restaurant Guide" for the first time in 2022.
However, even with so many names, few people in Guangzhou know about it, because the brand name is so awkward to pronounce that it gives people the feeling of not knowing what medicine is sold in the gourd, so it is difficult to even get consumers to spread the word of mouth.
And for Cantonese people, the name "Uncle Nawei" is not "Cantonese", it is completely a homophonic stalk of Chinese, and it is pronounced in Cantonese as "Uncle Pingwei", and the word "Uncle" is mother, the meaning of Uncle Niang, describing men as very sissy......
Even if you look at the exterior of its store, you may not be able to tell that it is a restaurant, with a few suits and shirts displayed in the window, and those who don't know think it sells suits.
Therefore, its popularity in Guangzhou is definitely not as good as Taier sauerkraut fish or hot pot, even if it leaves, it is quiet, maybe many people don't even know that it is a subsidiary of Jiumaojiu Group.
And unlike the regular open-air restaurant style, Uncle Nawei adopts the speakeasy (American speakeasy) style to indulge in the world, and interprets a mysterious place where taste buds and adventurous spirit collide, with a little playfulness.
When you enter the restaurant, the first thing that catches your eye is not the dining environment, but a variety of experimental equipment and balance devices.
With such a high style, the price is naturally tricky.
The store sells both custom bureaus and regular menus, and if you want to enjoy custom dish services, you need to pay an annual fee of 1111 yuan for VIP members, and even the VIP area has face recognition technology.
However, here, there is no use of very expensive ingredients like Michelin restaurants, but more ordinary chicken, fish, and soup, so that everyone can feel the chef's skills and make ordinary food into extraordinary taste.
It stands to reason that this kind of Internet celebrity restaurant that relies on the atmosphere layout to raise the price and properly premium the price is naturally considerable. It's just that the ideal is very plump, and the reality is very skinny.
According to the latest operating performance of Jiumaojiu Group in the first quarter of 2024, from 2019 to 2023, Uncle Nawei's revenue will be 7.120 million yuan, 9.757 million yuan, 12.402 million yuan, 12.339 million yuan, and 10.765 million yuan respectively.
Although it has a stable revenue of more than 10 million a year, it has contributed less and less to Jiumaojiu Group.
Starting in 2022, its revenue has declined for two consecutive years, down 0.5% and 12.8% respectively compared with the same period, which is also the only brand of Jiumaojiu Group that experienced negative revenue growth last year.
And between 2021 and 2023, Uncle Nawei's revenue in 2023 is the lowest, but Jiumaojiu Group's performance in 2023 is the best in these three years, and it has achieved substantial growth.
In other words, Uncle Wei not only did not contribute to the Jiumaojiu Group, but also became a laggard.
In addition, Uncle Nawei's turnover rate also dropped from 2.5 in 2022 to 1.7 last year. Compared with several other sub-brands, Uncle Nawei was also the only brand with a declining turnover rate last year.
Looking at it this way, it is not difficult to understand why Jiumaojiu Group would abandon it. It can be said that less of it and more of it will not affect the performance of Jiumaojiu Group, and there is a kind of chicken ribs that "it is a pity to abandon it if it is tasteless".
It's just that Jiumaojiu Group has always been more ruthless, since it is not important, then cut it down, after all, in the diversified layout of Jiumaojiu Group, two brands have already been announced.
In 2021, Jiumaojiu closed all of its Sichuan cold pot skewer stores.
In June 2022, Jiumaojiu sold 80.85% of the equity of the pancake brand "2 Egg Pancakes" at a low price of 509,400.
Now, Uncle Nawei's fate is the same, and Uncle Nawei in Shenzhen closed the store as early as 2020, only operating for a year, perhaps the closure of the Shenzhen store is already a harbinger of Uncle Wei's abandonment in the future.
It's good to enjoy the shade with your back against a big tree
F&B giants are keen to open "sub-brands"
In 2015, Jiumaojiu, which opened northwest cuisine, began to develop its sub-brand, and Taier Laotanzi Sauerkraut Fish Restaurant (hereinafter referred to as "Taier") was born.
Unexpectedly, this sub-brand is too powerful, and it surpassed "Jiumaojiu" in only 5 years and became the first brand of Jiumaojiu Group, as well as the "backbone" of the group's performance.
As a result, Jiumaojiu, who tasted the sweetness, began a multi-brand operation strategy to expand to more market segments, thereby increasing market share.
Later, in August 2020, Jiumaojiu Group launched Chongqing Hot Pot, which was once pinned on high hopes and regarded as the group's third growth curve.
The performance report shows that in the first half of 2023, the revenue of the hot pot increased by 331.1% year-on-year to 352 million yuan, accounting for 8 percentage points of the group's revenue to 12.3%, officially surpassing "Jiumaojiu" and becoming the second largest source of income for the group.
Now, its catering matrix Jiumaojiu, Taier, Chongqing Hot Pot Factory, Lai Meimei, Appreciate Xian Yuemu, Outside the Mountain, and Uncle Nawei is the chef.
According to the data of Jiumaojiu Group's 2023 semi-annual report, the unit price of Uncle Nawei is a chef is 155 yuan, which is higher than the unit price of Jiumaojiu, Taier and Hot Pot, and even the per capita consumption of Taier and Hot Pot has decreased.
It is not difficult to see that Jiumaojiu Group wants to complete the layout of the mass, mid-range, mid-to-high-end, and high-end catering consumption tracks and improve the brand matrix through the five brands of Taier, Gang Hot Pot, Jiumaojiu, Xian Yuemu Beef Hot Pot, and Uncle Nawei.
Today, the high-end catering of Jiumaojiu Group is only one of the high-end beef hot pots, "Enjoying the Fresh Yuemu Beef Hot Pot", which focuses on high-end beef hot pot.
According to public reviews, the unit price of Yuexian Wood reached 518 yuan, which was much higher than the unit price of other brands under the same Jiumaojiu Group.
There is only one store in Guangzhou, and it is obvious that Jiumaojiu Group is also testing the waters, testing customers' sensitivity to prices, and I don't know if its situation will be similar to "Uncle Nawei" in the future.
After all, with the courage of Jiumaojiu Group, once it is found that something is wrong, it will be cut off immediately, without any delay.
In fact, it is not a new thing for brands to open sub-brands, and Xibei, Haidilao, and Xiabu Group have all opened sub-brands.
Xiabu Xiabu founded Xiang Xiang, Zhan Yao, Xi Jiade founded Xi Ding sea urchin dumplings, Xibei opened Jia Guolong wine stuffed air bun, Jia Guolong small pot beef, Xibei kung fu dishes and so on.
Haidilao, as a catering leader, is a good hand at "playing" sub-brands.
In September last year, the affordable hot pot brand "Hi Lao Hot Pot" was opened, and before that, a new Chinese bistro "Ji Shan" was quietly opened in Beijing.
However, what you don't know is that, according to incomplete statistics, Haidilao has opened at least 10 sub-brands. Eighteen Beijing flavor lo noodles, rice rice forest, Xiao Hi family, Lao Pai noodles, Qin Xiaoxian, Bai bran private noodles, Qiao Qiao's powder, Meng Xiaojiang, five grains and three meals, Da Mu Tian, Luo sister-in-law and so on.
For these catering giants, the original intention of Kaizi brands is often to seek greater development and occupy more market share in addition to consolidating their moats, and they want low-end, mid-range and high-end.
However, not all brands like Jiumaojiu Group can rely on the sub-brand to turn the tables against the wind.
Banu Mao Belly Hot Pot also has a sub-brand Super Island Skewer Hot Pot, but after the fake mutton incident broke out in September last year, it has had a big impact on Banu, which has always been the main "productist".
Later, Banu spent a lot of money to pay for Chaodao's mistakes, and paid 8.354 million yuan to customers who had consumed mutton rolls in Chaodao's stores, involving a total of 8,354 tables.
This wave of negative public opinion made Banu fall behind, and Du Zhongbing, the founder of Banu, said that he would focus on the Banu brand in the future, and the business of the sub-brand would be temporarily slowed down.
In March of this year, Du Zhongbing's shareholding company also withdrew from its previous sub-brand "Tao Niang Xia Fan Small Hot Pot".
Can the catering sub-brand tap into the incremental market?
The catering market is highly competitive, and the opening of sub-brands has become one of the important breakthrough points for the brand.
At present, most of the sub-brands with small achievements are catering giants who have been in the catering industry for many years, and many enterprises with shallow "qualifications" are still the first priority to stabilize the development of their main brands while taking into account the development of sub-brands.
However, for sub-brands, backed by well-known main brands, they can indeed resist more risks, but they still need to differentiate and seize other markets, and how to form their own independent development path and continue to grow is one of the next important propositions for sub-brands.
Have you ever eaten "Uncle Nawei is a chef"? What do you think about this? Welcome to leave a message in the comment area to discuss, express your opinions or opinions, thank you.
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