Text | Hua Shang Tao Li Wang Han
It took decades to educate the market, but the dividend was harvested by a company that was about to "go bankrupt", and the coconut tree was afraid that it would cry.
It is no one else who harvests the dividend, it is Luckin, whose raw coconut latte once reached a monthly sales of tens of millions of cups.
Since its launch, raw coconut lattes have skyrocketed and frequently sold out, selling 420,000 cups in the first month. By June 30, the raw coconut series had set a new sales record for Luckin.
Thanks to this, Luckin achieved overall profitability in May and June, with an amount of about tens of millions of yuan. By being rhythmic by "Luckin", coconut flavor has also become the top of this year, and everything can taste coconut. The data shows that among all plant-based beverages, coconut flavor has the fastest growth, with a growth rate of up to 109%.
The explosion of raw coconut lattes is both accidental and inevitable.
In the past few decades, coconut palm juice has single-handedly made Hainan's coconuts go to the whole country, completing the first round of market education for generations of Chinese. To some extent, as the coconut coconut juice advertising slogan says, "drink from small to large", is a true portrayal of the post-8090 generation.
Different from the past benchmark Starbucks, after exposing the fraud, Luckin has found another more suitable way to make coffee in China - coffee milk tea: simulating the way of milk tea "+ everything" and developing new products. On this basis, we will continue to carry forward the "fast" gene of the Internet, and constantly try and make mistakes and screen explosive products.
Taking the first half of this year as an example, 50 new products that combine various flavors of sea salt cheese, cherry blossoms, oats and bayberry are all the bait that Luckin throws into the pond, and the raw coconut latte is one of the most successful attempts.
To be honest, coconut palm juice has been drunk for so many years, it is a bit greasy, which requires tea and coffee brands to make old ingredients fresh.
Named "raw coconut", in fact, Luckin uses mature coconuts that grow for 10-12 months, because 5-6 months of raw coconuts (green coconuts) can only be used to squeeze the texture of coconut water, mature coconuts have thick coconut meat to make coconut milk and coconut milk.
However, the name of raw coconut can indeed make people think of natural, healthy and other keywords that fit the current consumer psychology.
In addition to mixing coconut milk and coconut water proportionally, the addition of sugar and hydrogenated oil makes the overall taste of thick coconut milk more silky and rich, enough to harmonize the bitter taste of coffee.
In fact, coconut with coffee in southeast Asian countries rich in coconuts has long been a traditional drinking method for many years, and the taste naturally stands the test.
At the same time, as a plant-based drink, coconut milk also caters to the psychological demands of consumers' health "sugar bumping". According to the "2020 Plant Protein Beverage Innovation Trend" released by Tmall TMIC, coconut flavor growth rate is as high as 109% in plant protein drinks, which is the most sought after by consumers.
The excellence of the coconut is not only seen by the Luckin family. Since the beginning of this year, almost all coffee or tea brands have developed coconut product lines.
For example, Chabaidao's "Raw Coconut" series has successively launched new products such as "Raw Coconut Grand Slam", "Osmanthus Longan Ice", "Mangmang Raw Coconut" and so on;
Subsequently, Lele Tea began to supply a limited supply of "Mengle Raw Coconut Cocoa Iced Tea" jointly named with Menglong, and many products such as "Raw Coconut Milk Jelly", "Coconut Coconut Poplar Branch Manna", "Coconut Coconut Qing Cooling" and so on;
Heytea has also launched three drinks, "Raw Coconut Latte", "Raw Coconut Jelly Latte" and "Coconut Lemon American", collectively known as the "Raw Coconut Coffee" family.
According to the statistics of more than 20 beverage brands, a total of 160+ coconut-related products have been added in the past six months.
In the Muddy Waters Short Luckin report that year, it was clearly pointed out that not so many people in China drank coffee, but the coconut wind blowing this summer was enough to prove the mistake of this view.
The key is not that no one drinks, but how to drink. By changing the answer to this question, Luckin's opponents have now become brands such as Mi xue ice city, Xicha and Nai xue, which have shown their strengths in the new consumption track.
On May 20, Luckin, which relied on the fire of raw coconut latte, applied for the trademark YYDS to cheer for rebirth. On May 20 last year, Luckin received a notice from Nasdaq requesting delisting.
Luckin investors are regaining confidence, and luckin coffee major shareholders Big Press Capital and Joy Capital have reached a total of $250 million stock investment agreement with Luckin. It also said that under certain conditions, an additional $150 million can be invested on a pro rata basis.
At the same time, the market is also reassessing luckin's value. As of August 23, Luckin Powder was quoted at $13.51 per share, with a total market capitalization of $3.904 billion. Although it is not as good as the peak of $50.02 per share, it has increased by nearly ten times compared with the price of $1.38 per share before delisting.
It is reported that Luckin may re-list in A-shares in the future. So the question is, will Chinese investors invest in Luckin like consumer coconut lattes?
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