After returning to the main business and "changing owners" state-owned assets, ST Weiwei announced with great fanfare that it was going to cross-border new-style tea drinking-
Not only to make milk tea, but also to open 10,000 stores!
On the eve of the National Day, Weiwei Soy Milk joined hands with the Summer Palace to open the country's first milk tea shop (hereinafter referred to as nanjing store) in Xinjiekou, the most prosperous business district in Nanjing. According to the official public account, the joint name of Weiwei Soy Milk and the Summer Palace aims to inject traditional national style into the national brand, mainly reflected in the store shape, packaging design, store decoration and so on.
Jiangsu Weiwei Xinliu Operation Management Co., Ltd. is the operator of the Nanjing store. Tianyan check shows that Weiwei Food and Beverage Co., Ltd. (hereinafter referred to as ST Weiwei) is one of its shareholders. <b>ST Weiwei said that this is a project that the company has just launched. </b>
<b>The goal of 10,000 stores is "flashy", and drinks are still being complained about</b>
From the public account, it can be seen that the official name of the Weiwei milk tea brand is "Wei miaowei smile".
According to a number of media reports, "Wei Miao Wei Xiao" will operate through the "direct operation + franchise" model, and has recruited more than 500 franchisees across the country, many of whom have entered the site selection and even decoration link. In addition to the Nanjing store, it will open direct stores in Wuxi, Shanghai, Nanjing, Xuzhou, Suzhou and other places a few years ago, and extend the layout to North China.
"Wei Miao Wei Xiao", which is in the brand promotion period, aims to successfully open 600 stores nationwide in batches, and is expected to <b>achieve 10,000 stores in the next 5-8 years. </b>
Vivi Milk Tea Store, Source Network
Curiously, how does ST Vivi gather many milk tea franchisees in a short period of time? With only one store, is it too anxious to shout out 10,000 stores?
New tea drinks are now the standard for young people, and the track is becoming more and more crowded. Ai Media Consulting data shows that it is expected that the size of China's new tea market will reach 279.59 billion yuan in 2021 and will exceed 300 billion yuan in 2022. Such as Xi Tea, Nai Xue's Tea, Honey Snow Ice City, Coco Duke, Tea Hundred Ways, etc., have won a group of loyal fans, in addition, Wahaha, Wang Laoji and other beverage faucets have also entered. As a latecomer ST Weiwei, what is the competitiveness?
Let's start with the possibility of opening a store.
There are many participants, but only a few can reach 10,000 stores. According to the narrow door restaurant, as of October 15, 2021, Xicha has 848 existing stores, 699 Naixue's tea, 4583 tea hundred ways, and 4895 Coco, <b>and only one of them has reached the standard</b>.
The two beverage faucets that crossed the border were even more difficult, Wahaha Milk Tea had 387 existing stores, of which 38 were suspended; 1828 Wang Laoji had 96 existing stores, of which 18 were suspended, close to 20%. According to reports, under the endorsement of large brands, franchisees came with great pleasure, but finally collapsed, and many franchisees concentrated on complaining about continuous losses and were protecting their rights.
In this way, how the next "Wei Miao Wei Xiao" will achieve the "small goal" of 10,000 stores will attract much attention.
In terms of product strength, consumers are most concerned about how to taste and how much to price.
The menu of the Nanjing store shows that there are more than 20 drinks set up, and the price range of drinks is 16-29 yuan, which coincides with the positioning of high-end xi tea, Naixue's tea, seven points of sweetness, etc., and there is 9 yuan of ice cream on sale.
In addition, the menu is a friendly reminder, "zero creamer, pure soy milk, reject trans fatty acids". <b>It is reported that the main ingredients of all products are produced by ST Vivi. </b>
It is not difficult to see that the taste of "soy milk" and the concept of "health" are the main features of the ST Weiwei milk tea brand.
Vivi Milk Tea Menu, Source Network
Milk tea shops that also focus on soy milk flavors are not completely statistical, and there are mature chain brands such as Half Immortal Bean Fu, Tea Baidao, Lele Tea, and Fu Xiao Tao.
In addition, from the public comments, Xiaohongshu and other social platforms can see that although it has just opened, the Nanjing store <b>has attracted a lot of complaints in terms of beverage taste, food safety, operation and management</b>, and whether milk tea is "healthy" is also worth exploring.
For example, when it comes to taste, many people say that "it is too sweet", "it is like a cleanser mixed with water";
When it comes to food safety, some people say that "things are like spoilage, hygiene is very poor, and the gloves of the brother who make things are not directly started";
When it comes to management, many bad reviews show that "after waiting for 15 minutes, I didn't do it, and the numbers behind me were taken away" "The call numbers are particularly chaotic, I don't know in what order to do"...
In response, the Nanjing store replied, "On the first day of opening, there were indeed many accidents and inadequate preparations."
It is also noted that for most consumers, this cross-border joint name may only stay in the "early taste" and "join in the fun" stage. Many reviews in mid-to-late October said, "When I arrived at the store, there was no one, only myself, and I was lonely."
What are the advantages of cross-bordering? Where is the bottom line of Wandian? How to deal with logistics supply? And how to ensure food safety? In this regard, ST Vivi has not yet given a reply.
<b>ST Weiwei frequent cross-border and frequent defeats</b>
The hottest new tea drinking track at the moment may be the embodiment of ST Weiwei's anxiety about the lack of the main business.
According to public information, ST Weiwei is mainly engaged in the research and development, production and sales of soy milk powder, plant protein drinks (liquid soy milk), dairy products, tea and other products, as well as grain procurement, warehousing, trade and processing business. It has "Weiwei" soy milk powder, "Weiwei" liquid soy milk, "Weiwei Liuchaosong" flour, "Tianshan Snow" dairy products, "Yiqingyuan" tea and other series of products.
Looking back at st. Weiwei's nearly 30 years of road, it can be said that it is a double attack between internal and external troubles.
A "Longing" TV series and a CCTV TV advertisement have completely made the slogan of "Weiwei soy milk, happy and cheerful" into thousands of households. In 2000, Weiwei soy milk landed on A shares, is a well-deserved "soy milk king".
The decline and crazy crossover of ST Vivi are inseparable from the relationship. In 1998, when the financial crisis hit hard, cui Guiliang, at the helm, resolutely opened up diversification to resist future cyclical risks.
Through joint ventures and mergers and acquisitions, ST Weiwei has milked milk, brewed wine, built buildings, dug coal, studied medicines, and brewed tea... Although some industries bring benefits in the short term, in the long run, most of them are poorly managed due to lack of experience, and eventually they can only rush to resell and throw up their hands - this is an internal worry.
External problems are with the gradual popularization of plant-based concepts, and many competitors are "looking at the tiger": not only are there rising stars such as Vita, Weiyi, Chengde Lulu, Yangyuan Beverage, etc., but also industry tycoons with funds to enter, such as Dali Food launched "Bean Bean", Yili launched "Plant Selection", unified launch of "Honest Bean" and so on. Under the internal and external crackdown, ST Weiwei's market share has also been divided, and the "2019-2025 China Plant Protein Beverage Industry Development Prospect Forecast and Investment Strategy Research Report" shows that the market share of Weiwei soy milk is only 0.51%.
In 2016, ST Weiwei put forward the strategy of "big agriculture, big grain, big food", began to return to the main business, and proposed the "double 100 billion" five-year plan of "food and beverage revenue of more than 10 billion, grain revenue of more than 10 billion, and building a 100 billion food cluster".
But performance grew weakly. From 2017 to the first half of 2021, ST Weiwei achieved operating income of 4.647 billion yuan, 5.033 billion yuan, 5.039 billion yuan, 4.799 billion yuan and 2.035 billion yuan, with little fluctuation and even a downward trend; net profit was 91.51 million yuan, 59.67 million yuan, 72.93 million yuan, 436 million yuan and 90.8 million yuan, respectively; in addition, non-net profit was deducted from 2017 to 2019 for three consecutive years.
In 2020, the reason for the reversal of non-net profit and the sharp rise in net profit is the "windfall" bonus. According to the 2020 annual report, the sale of land of Zhijiang Liquor and its subsidiaries was expropriated by the government and brought a total of 346 million yuan of non-recurring profits.
On the occasion of the 20th anniversary of the listing, due to the "assistance" of the controlling shareholders of the board of directors and the company's executives, the company's non-operating assets were occupied for many years, ST Weiwei quickly put on the hat, and then began to seek "change of ownership".
Recently, the State-owned Assets Supervision and Administration Commission of Jiangsu Province issued a document agreeing in principle that Xinsheng Group should accept 12.9% of the shares of listed companies held by Weiwei Group. After the change of rights and interests, the shareholding ratio of Xinsheng Group will reach 29.90%, becoming the controlling shareholder of ST Weiwei, and the Xuzhou State-owned Assets Supervision and Administration Commission will become the actual controller.
Under the difficult circumstances of business, it is not difficult to understand the exploration of new tea as the second growth curve. ST Weiwei brand investment director said, "The layout of the tea shop is hoping to improve the awareness of the Weiwei soy milk brand after 00 and 10. ”
However, new-style tea is not a simple, easy business, if the operation is not good, it is bound to have a negative impact on the long-term accumulation of the original brand image, and even drag its legs.
ST Vivi, who is ready to enter the "Nuggets", is he really ready?