**: Wine industry reference.
In 2023, the liquor industry will enter an era of stock competition, and high inventory, inversion, and reduced consumption expectations have become the main theme of the liquor industry. The production capacity of liquor and the number of liquor enterprises on the scale have been declining, the Matthew effect has been highlighted, and the differentiation of liquor enterprises has intensified. However, in this period, challenges and opportunities coexist. Langjiu, under the leadership of Wang Junlin, has been looking for a breakthrough.
According to the marketing data of Langjiu from January to September, the sales data of Langjiu merchants in the first three quarters of 2023 exceeded that of the whole year of 2022.
In addition, six ecological wine-making areas have been formed, with a production capacity of 70,000 tons, and the fifth-generation Qinghualang has been listed, and Langjiu will receive a lot of goods in 2023.
On October 23, Langjiu released the fifth generation of Qinghualang at the Chongyang Xiasha Ceremony. Wang Junlin, chairman of the board of directors, said that Qinghualang is the first important product of the century-old Langjiu strategy, and all Langjiu people are determined to make better quality wine, provide the best quality service, and make the strongest guarantee, so that consumers can consume and drink comfortably, and create beauty and value for consumers.
It is reported that the research and development of the fifth generation of Qinghualang lasted for 7 years, and it has undergone system upgrades in many links such as raw grain, brewing, storage and blending. Langjiu emphasized that it is necessary to build Qinghualang into the second high-end soy sauce liquor after Feitian Moutai, with sales of more than 20 billion yuan by 2030, and adhere to the road of value for a long time, become stronger and bigger, and strive to develop with the goal of 50 billion yuan per year.
The wine industry has learned that the recommended retail price of the fifth-generation Qinghualang product is 1,200 yuan per bottle. Langjiu said that Qinghualang should push up the price year by year, and develop to the price of 1,500 to 2,000 yuan bottles. It can be seen that Langjiu intends to benchmark Moutai and create a differentiated market positioning from other competitors.
However, the current e-commerce platform shows that the actual retail price of Qinghualang sauce-flavored liquor 53 degrees 500ml is only 1069 yuan, which is lower than the recommended retail price, and there is ** upside down. At present, the retail price of Feitian Moutai is much higher than that of Qinghualang, and Langjiu may still have a long way to go if it wants to truly benchmark Moutai.
Because of this, Langjiu planned the development blueprint for the next ten years this year and released the general program of "Centennial Langjiu".
100 billion goals, 100 years of Lang wine
On September 8th, the third Langjiu Manor Member Festival was held in Langjiu Manor, Gulin County, Wang Junlin released the general program of "Centennial Langjiu", expounded the strategic goals and strategies of Langjiu, and depicted the development blueprint of Langjiu "based on 20 billion and attacking 100 billion".
According to this document, in the next ten years (2024-2033), Langjiu's annual revenue will gradually exceed 30 billion, 50 billion, and 100 billion, pointing to 100 billion Langjiu. By 2030, the target annual output of Langjiu sauce fragrance is 100,000 tons, the storage of wine is more than 500,000 tons, the target annual output of Jianxiang is 150,000-200,000 tons, and the storage of wine is more than 500,000 tons, so as to ensure that it will continue to lead the industry in the next round of production and storage competition.
The revenue target of 100 billion shows the ambition of Langjiu, but this is not an easy task, and 100 billion is not a small number. is as strong as Moutai, and it will only stand at a high level of 100 billion yuan in revenue in 2021. Therefore, even in the wine market with obvious head advantages, 100 billion revenue is a big challenge.
In 2022, in addition to Moutai, which has a revenue of 100 billion yuan, Wuliangye, which ranks second, will have a revenue of 74 billion, and Yanghe, which ranks third, will have a revenue of 30.1 billion. And Langjiu has just exceeded 20 billion yuan, and it can be said that it is not easy to achieve a "Wuliangye" from the goal of 100 billion.
However, the development of Langjiu in recent years has indeed been rapid, which has also added confidence and confidence to its attack on 100 billion. From 2018 to 2022, Langjiu's revenue will increase from 747.9 billion yuan to more than 20 billion. In the past five years, the compound annual growth rate of Langjiu's revenue has exceeded 20%, and the data given by iiMedia Consulting shows that the CAGR of the industry market size from 2011 to 2022 is 544%。Langjiu's revenue has a growth rate that far exceeds the overall level of the industry.
Song Shuyu, chairman of the China Liquor Industry Association, once said that due to the economic environment, China's liquor is facing greater market pressure, and at the same time, the contradictions accumulated for a long time within the industry are superimposed, and many factors constitute problems that the liquor industry has to face. Compared with the previous cycle, the era of comprehensive growth of the liquor category may not be able to be replicated.
Whether the rapid growth of Langjiu can continue in the future still needs time to verify. At the same time, Langjiu has begun to expand its production capacity this year for the sake of future goals.
The production capacity reached a record high of 70,000 tons
On October 23, the "2023 Langjiu Chongyang Xiasha Ceremony and Tianfu Ecological Liquor Zone Unveiling and Commissioning Ceremony" was held in the dual venues of Tianfu Ecological Liquor Zone and Wujiagou Ecological Liquor Zone, and the production capacity of Jiangxianglang Liquor reached a record high of 70,000 tons.
Chairman Wang Junlin announced: "Langjiu Tianfu Ecological Liquor Zone was grandly unveiled and put into operation today, and the centennial Langjiu not only ushered in the sixth ecological liquor area on the left bank of the Chishui River, but also stood on a record high of 70,000 tons of annual production capacity while building a circle and strengthening the chain. ”
At present, the six major production areas of Langjiu have reached a production capacity of 70,000 tons, which can be described as a record high for Langjiu, and it is also Langjiu's preparation for the goal of 100 years of Langjiu. Wang Junlin called it "This is a historic upgrade of the century-old Langjiu, and this is the historic beginning of the new century of Langjiu." ”
Xiao Zhuqing, a wine expert, pointed out that the expansion of production capacity of soy sauce wine companies is to expand the stock of essence and old liquor, because these two are the core of high-quality and high-quality soy sauce liquor. On the consumer side, there is also a saying that "ginger is old and spicy, and wine is old and fragrant". Therefore, the expansion of the distillery is actually based on the better expectation of the future soy sauce wine industry and the layout in advance, but also to cater to consumers' understanding of the love of "aged wine".
It is worth noting that this year's "Xiasha Season" Langjiu is the second soy sauce wine company with a production capacity of more than 70,000 tons other than Kweichow Moutai. With the blessing of strong production capacity, the development of Langjiu in the new era will be smoother.
According to the data, from 2019 to 2022, the output and sales revenue of China's sauce-flavored liquor increased year by year, and the output of sauce-flavored liquor in 2022 was 700,000 kiloliters, accounting for 104%；The sales revenue reached 210 billion yuan, accounting for 31% of the sales revenue of the liquor industry3%。
Behind the beautiful data, there are also some problems. Since the beginning of this year, high-end liquor has been upside down, and the phenomenon of high inventory has been common, especially the inventory problem of liquor companies. The China Liquor Industry Association mentioned in the "2023 China Liquor Market Interim Research Report" that digesting inventory is the top priority in 2023, and major liquor companies are also racking their brains to boost sales and channel enthusiasm.
At this time, Langjiu increased production capacity, which may further increase inventory pressure. In this regard, some industry insiders said that increasing production capacity is not the same as directly increasing sales, and it is not necessarily a good thing for Langjiu to be obsessed with increasing production at this stage.
In addition, in order to achieve the goal of 100 billion yuan, in addition to expanding production capacity, Langjiu also focuses on the layout of the fragrance market.
Is 20 billion and incense reliable?
In recent years, the aromatic liquor has gradually become the mainstream flavor type after the strong, sauce and Qing, and Langjiu is the pioneer of the aromatic liquor.
In 2019, Langjiu put forward the "Great and Aroma Strategy" for the first time, emphasizing quality improvement as a breakthrough to realize the upgrading of four key technologies, such as "expansion of multiple types of raw liquor" and "breeding of special grain varieties", forming a technical system of thick sauce and fragrant liquor, and building a full-chain and fragrant process system.
In February this year, Langjiu officially released the "Thick Sauce and Aroma Strategy", and the general program of "Centennial Langjiu" released by Wang Junlin shows that by 2030, strong sauce and fragrant liquor will become the leader of both flavorsThe annual output of thick sauce and fragrant series wine will reach 150,000-200,000 tons, and the storage of wine will reach 500,000 tons. At the same time, the sales of leading brands of thick sauce and fragrance exceeded 20 billion yuan.
Wang Junlin revealed that this year, the sales of Langjiu's fragrant liquor will exceed 5 billion yuan, so its future target of 20 billion yuan will definitely be achieved. "The sauce aroma and strong fragrance production area of Langjiu is determined by the geographical location, but in the development of strong fragrance, it is impossible to surpass Wuliangye, so choosing Jianxiang is the way to go, and other brands cannot surpass. Wang Junlin once said.
Cai Xuefei, a wine marketing expert, said that theoretically speaking, the category style of Jianxiang is more diverse, the palatability is better, the consumer adaptability is stronger, and the target market range is also more extensive. Under the general trend of fragrance integration, high-quality and fragrant liquor has developed rapidly in recent years, which is located in Sichuan, with the advantages of sauce fragrance and strong fragrance of Langjiu, there is a kind of quality assurance to make both fragrant and fragrant, and considering the national network of Langjiu, as well as the high brand premium, the annual sales target of 20 billion yuan is not out of reach.
At present, there are competitors such as Baiyunbian and Kouzijiao, but compared with the head boss of thick sauce, Langjiu is easier to make a difference in the field of fragrance.
However, it should be noted that compared with sauce-flavored, strong-flavored and light-flavored liquors, there is no high-end consumer base for flavor-flavored liquors. If you don't take the high-end-incense route, the revenue of 20 billion-incense will become more difficult. Therefore, it is worth looking forward to how Langjiu will develop in the future in terms of brand building and whether it can have a group of high-end and fragrant consumers.