During the May Day holiday, the hot pot restaurant that had "thrown Haidilao several streets" was completely cold! The auction of the most valuable trademarks means that it is difficult for founders to make a comeback.
The name of this hot pot restaurant is "Tan Fish Head". When Haidilao was still a "little brother", Tan Yutou had tens of thousands of employees, assets of nearly 10 billion, and stores all over the country. Now it has collapsed, making many people sigh.
The reason for the collapse, the founder said bluntly, is because he wants to go public. In 2009 and 2011, Tan Yutou twice planned to go public through a backdoor listing, and even signed a VAM agreement for an IPO, but the result was a failure, and Tan Yutou was also deeply involved in a debt crisis...
49 trademarks started from 1 million yuan
In the end, it was sold at a high price of 15.1 million yuan
During the May Day holiday, Tan Yutou even sold his most valuable trademark.
From 10:00 on May 1, 2021 to 10:00 on May 2, 2021, the manager of Chengdu Tanyutou Investment Co., Ltd. (Chengdu Tanyutou) auctioned 49 trademark exclusive rights under the name of Chengdu Tanyutou on the Alibaba Auction Qiangqing platform of Taobao.com, with a starting price of 1 million yuan.
At 12:19 on May 2, after 188 bids and 169 delays, the 49 trademarks under the name of "Tan Yutou" were finally sold at a price of 1510 yuan. Due to the fierce bidding, the auction, which was supposed to end at 10:00 a.m., was postponed 169 times to 12:19.
According to the auction page, a total of 8 people signed up for the crazy auction, and finally sold at a high price of 15.1 million yuan.
It is reported that this auction contains 49 exclusive rights to trademarks under the name of Chengdu Tanyutou Investment Co., Ltd., covering trademarks such as "Tanyutou", "Tan Zhuangyuan", "Bajiao Fishing House", "TanjiaBazi", "Tan Hong", "Tanyoto" and so on.
In response to the fact that the trademark will be auctioned, its founder Tan Changan has responded to the media and said, "We will take the trademark back and continue to be a high-end brand of TanYutou."
However, in the industry's view, this is in today's well-competitive hot pot market, Tan Changan, who has lost his trademark, has to start from scratch, which is even more difficult.
Is the Tam fish head trademark worth this price?
"Shoot the logo, no taste and my management, or fake"
Although he previously told the media that he would get the trademarks back, Tan Changan said that he did not intend to ask for [these trademarks] and could not come up with 1 million yuan. In his view, the added value of the Tanyutou trademark, in addition to the fame accumulated in the past 20 years, lies more in the taste. "Consumers eat feelings, and eat the taste of memory. The recipe is still in my hands. Without Tan Chang'an, the trademark of Tan Yutou is equal to zero. Take a picture of the logo, no taste and my management, or fake. As long as I am Tan Chang'an, it is true. ”
He pointed out that there are now a lot of fake Tan fish heads, without using their materials, out of management, and the next step will be to clean up these stores.
For the auction, Tan Changan said, "Taobao contacted me to hold a live auction before, but I did not agree. He thought, "How high can it be?" ”
For the starting price of the trademark of 1 million yuan, Tan Changan believes that if you are not ready to make Tan fish head hot pot, you should only spend 1 million yuan to advertise, which is worth it. But he still hopes that "the people who take the trademark are really quality people, and they are most afraid of being used to join and cheat money." ”
In addition, from April 30 to May 1, 30 parking spaces under the name of Chengdu Tanyutou and the shops of the Chongqing flagship store were auctioned on the Taobao Ali Auction Qiangqing platform at starting prices of 3.6 million yuan and 48.45 million yuan respectively, all of which were auctioned for the second time due to no one's interest. For the above two assets, Tan Changan said that the unit price of 150,000 yuan at the first auction of parking spaces was too high, and the unit price of 120,000 yuan for re-auctioning was also high, "When I bought 50,000 yuan, there was a bubble in the parking space market."
He felt that the shop in Chongqing was worth the starting price, "When I bought it, the transaction was nearly 30 million yuan, and someone once bid more than 70 million yuan that I did not sell, and I asked for 90 million yuan at that time." According to previous media reports, these shops are vacant and dirty and have not been rented out for many years.
It was once an empire of tens of billions
Tens of thousands of employees and stores are located all over the country
According to the data, Chengdu Tanyutou Investment Co., Ltd. was established on May 27, 1997, with a registered capital of 54.51 million yuan, the legal representative is Tan Chang'an, and the business scope includes the management of Chinese food and hot pot chain operations.
Tan Fish Head is Tan Chang'an's self-made hot pot empire. Tan Chang'an, who retired from the army in 1996 and returned home, took a 5,000 yuan resettlement fee to open the first Tan Yutou hot pot restaurant in an alley in his hometown in Chengdu, focusing on fish head hot pot.
Unlike other people's hot pot shops, Tan Chang'an uses a disposable oil-clearing pot bottom, consumers can see the reassurance, in order to make consumers satisfied, Tan Changan demolished the kitchen wall and replaced it with transparent glass, which is also the first restaurant to use a transparent kitchen.
Tan Yutou hot pot restaurant has achieved great success, and since then, Tan Chang'an has opened 90 chain stores in more than 50 cities across the country in less than 3 years, and by 2000, the turnover exceeded 300 million yuan.
Founded 10 years ago, Tan Yutou was listed on the Hurun Catering Rich List in 2007, Tan Changan's net worth has reached 2 billion, and the company's assets have reached nearly 10 billion. Tan Yutou has basically completed the layout of the Chinese mainland and is ready to develop overseas.
In that year, the company's brand intangible assets were worth 800 million yuan, becoming the largest joint-stock catering enterprise in Sichuan Province. The rapid development of "TanYutou" has greatly prospered the traditional catering industry in Sichuan and become the leader of the outward expansion of the "Sichuan cuisine" industry.
In Tan Chang'an's words, he used to have tens of thousands of employees, hundreds of acres of factories, assets of nearly 10 billion, and stores all over the country, including Taiwan and Hong Kong. Since then, Tan Yutou has become the first company to take hot pot out of the country, "once on the peak of catering".
At that time, Haidilao had only opened 13 branches. Therefore, some people say that 20 years ago, you could not know about Haidilao, but the name of TanYutou is a household name. Tan Yutou did throw 'Haidilao' several streets at that time."
Signed a VAM agreement to go public
Failure ended
In 10 years, we built a 10 billion empire from scratch, but it only took 4 years to completely destroy 10 billion assets. Tan Chang'an also said that this shocked the entire catering industry, but also shocked himself.
The reason for the collapse, Tan Changan said bluntly, is because he wants to go public. Even at the expense of signing a VAM agreement, the result was a failure, and Tan Yutou was also deeply involved in a debt crisis...
According to reports, in 2001, Tan Changan went to Hong Kong to establish Hong Kong Tan Yu Head Group Holdings Limited (hereinafter referred to as "Hong Kong Tan Yu Tau"); in 2003, the first Tan Yu Tau branch in Hong Kong opened in Causeway Bay.
Tan Changan said that the purpose of opening a company and a branch in Hong Kong is to go public.
"After we opened a company in Hong Kong, we did it according to the rules of listing. The accounting firm we hired is also PwC, and all the standards are always done according to the standard listed companies. Tan Chang'an introduced.
In 2009 and 2011, Tan Yutou was twice proposed to be listed on the backdoor in Hong Kong, but he was taken away by other companies at a high price.
Even at the expense of signing a VAM agreement, the result was a failure, and Tan Yutou was also deeply involved in a debt crisis...
So, Tan Yutou began to prepare for his own IPO. Tan Chang'an himself believes that it is this decision that directly affects the fate of Tan Yutou.
According to Tan Changan's recollection in an interview with Red Star Capital Bureau, a VAM agreement had been signed with a Venture Capital Firm in Hong Kong at that time: venture capital contributed $20 million, while Tan Yutou needed to spend 3 years to reach the profit target and make the company go public. Tan Changan said that according to the scale of 20 million US dollars, he began to prepare, decorate, open stores, and even made some equity investments in other hot pot companies.
But according to Tan Chang'an, the promised $20 million has already been spent, but the venture capital money has only come in the previous $5 million. And this $15 million hole, in the end he had to fill this hole himself, which also led to problems in the follow-up capital chain of "Tan Yu Head".
Like dominoes, the first piece that fell, in Tan Chang'an's words, was a "tofu block" size of news: in 2013, The Sichuan media released news that a small loan company sued Tan Yutou Investment Company and Tan Chang'an, demanding that they immediately repay the principal of the loan of 15 million yuan and interest of more than 2.2 million yuan.
This directly reduced Tan Changan's credibility in the bank, making it more difficult to borrow money. But counting the high interest on the loan, it will be difficult for him to reach the profit requirements in the VAM agreement, and he will also face high VAM losses.
In the end, due to the insolvency and inability of Chengdu Tanyutou to operate, the creditors applied for bankruptcy of Chengdu Tanyutou in 2016, and were finally ruled by the court to be bankrupt and liquidated.
In August 2020, Tan Yutou closed its last store.
In May 2021, Tan Yutou even the trademark was auctioned.
Looking back now, Tan Chang'an said, "Fate is doomed not to be listed, it should not be forced."
The founder has become an "old lai": more than 30 million in debt
"It does not affect daily life, and all year round without income depends on the family to support"
The 10 billion empire founded by his own hands collapsed suddenly, and as for Tan Chang'an himself, he had already become an "old lai".
According to the data, Tan Chang'an was born in April 1963 in Pingchang County, Sichuan. After graduating from high school in 1980, he joined the army, and after retiring from the army, he founded the "Tan YuTou" hot pot restaurant in 1996, which became a 10 billion empire 10 years later, with a maximum net worth of more than 2 billion.
Today, the data shows that Tan Chang'an has been temporarily suspended for 5 cases because he has no enforceable property, and the amount involved in these 5 cases is more than 31 million yuan, and the proportion of non-performance is 100%.
Tan Chang'an was also listed as the "Lao Lai" untrustworthy executor.
Tan Chang'an has also been restricted from spending many times. The most recent was in June 2020, when an application was made by the Chengdu Minjiang Branch of China Construction Bank Co., Ltd. Tan Chang'an owes ccbuck Chengdu Bank less than 50,000 yuan. As of March 27, 2018, Tan Chang'an still owed CCB Chengdu Minjiang Sub-branch RMB44,921.69 in principal loans, RMB2,954.52 in interest and RMB1,126.94 in penalty interest.
Tan Chang'an said: "When I was embarrassed, I didn't even have a dollar in my bag. ”
Regarding the identity of the executor and the restriction of high consumption, Tan Chang'an said that this does not affect his eating, normal life can be, nor does it affect his work. "I have not had an income for many years, and I rely on my family to support me. I am Tan Ziyu's consultant, and I am not actually on the employee list and do not receive a salary. His family's main income comes from the salary of his wife, who works as a treasurer in a partner's company.
In addition, Tan Chang'an's uncle opened a company and often received him. According to the 2005 Straits Metropolis Daily, Tan Chang'an' original surname was Feng, and he inherited his uncle from childhood, so he followed his uncle's surname Tan. Tan Chang'an has twin daughters with his current wife and is now attending kindergarten. "My biggest joy every day is taking my daughter."
In 2004, there were media reports that Tan Chang'an had two sons, one 12 years old and one 1 and a half years old. After the divorce, the two sons followed his ex-wife to Australia.
Quietly on Douyin as an "internet celebrity"
However, in the era of short videos, it seems that everyone will try to be an internet celebrity after failure. Tan Chang'an, who is nearly 60 years old, is no exception.
On November 24, 2020, Tan Chang'an began to post videos on Douyin to share his experience of success or failure.
Douyin shows that Tan Chang'an account released 14 works. He said that the 30 years of business wars have been ups and downs, and there are many stories and insights, hoping to help entrepreneurs.
(Source: China Fund News, Red Star Capital Bureau, etc.)
For more information, please download the 21 Finance app