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** 007 of the brand world
Author 007 of the brand world
The recent casual snack market is a little too lively!
BESTORE has just officially announced the change of leadership and carried outFor the first time in 17 years since its establishment, the price has been reducedAfter that, it soon fell into another lawsuit storm.
Source: BESTORE.
Just recently, BESTORE and Zhao Yiming Snacks, a snack wholesaler, openly tore apart, believing that the latter deliberately concealed the company's major matters during the cooperation between the two parties, harming the minority shareholders' right to know. So far, the court has accepted the case.
If we talk about thisThe lawsuit is just another case of dispute in the snack industry, then the continuous change of the entire industry pattern behind it is the fundamental reason for the two sides to go to court.
The contradiction between BESTORE and Zhao Yiming's snacks can be traced back to April this year, when Zhao Yiming completed it1.500 million yuan in Series A financingAmong them, there is the figure of BESTORE.
From the perspective of the specific investment ratio, BESTORE mainly sells snacks to Zhao Yiming through its wholly-owned subsidiary, Guangyuan JuyiInvested 45 million yuan and obtained 3% equity。Including BESTORE, the official also said that by investing in Zhao Yiming, the company can quickly lay out the snack wholesale business.
Surprisingly,After only holding hands for more than half a year, BESTORE completely cleared Zhao Yiming's snacks. According to the announcement issued in mid-October, Guangyuan Juyi will take 3% of Zhao Yiming's stake in 10.5 billion yuan of ** was transferred to Black Ant Capital, which invested at the same time.
Source: BESTORE announcement.
Invest, liquidate, and earnOriginally, this route BESTORE went very smoothly, and the reason why it is now suing Zhao Yiming snacks is mainly because Guangyuan Juyi officially announced the merger with another mass-selling snack giant "Snacks is busy" only 22 days after the transfer of equity.
Two industry giants overnightNearly 7,000 stores, compared to other players to form a fault lead, the current valuation exceeds9 billion yuan
BESTORE believes that such a large-scale merger action,It's impossible to go through all the processes in 22 daysTherefore, it is obvious that Zhao Yiming Snacks was already working on the merger of the company before BESTORE withdrew, and concealed the latter.
Source: Zhao Yiming Snacks Official.
In this regard, some netizens ridiculed: "Although BESTORE has the corresponding right to know as a minority shareholder, it may still not be able to swallow this breath." I originally thought that doubling in half a year was a very good income, but I didn't expect that there would be such a big move, and I may only make a small profit in comparison. ”
The more convincing argument isThe cooperation between the two casual snack brands is not so much a strong alliance as a "ghost".
BESTORE wanted to come in and make a quick buck, but Zhao Yiming Snacks didn't really want to cooperate with BESTORE, and he had been working behind his back to discuss the merger with Snacks, which also belonged to the snack wholesale track, before it was cleared.
In fact, BESTORE has been dominating the mid-to-high-end snack market for many years. In the body of BESTORE, the topic of ** expensive is also common.
In August this year, BESTORE was once due to its sales as high as 264 per cattyThe 4 yuan duck tongue was added to the title of "snack assassin" by consumers. From time to time before and after this topic, consumers complain about the price of BESTORE"Spending 200 yuan in a BESTORE may not even be able to fill a handbag, and if you go to a snack store, it is estimated that you can fill the entire trunk."
Coupled with the overall unoptimistic external environment, BESTORE, which has adhered to the mid-to-high-end route for 17 years, has no choice but to put down its body and officially announce a price reduction. It is understood that BESTORE has more than 300 productsThe average price reduction is 22%, with a maximum reduction of up to 45%.
Source: BESTORE official.
But this price reduction is more forced by the change of the external market pattern, which is what the founder Yang Yinfen mentioned in the open letter before"BESTORE wants to reduce the cost and achieve the best people-friendly, everyone thinks it is expensive, then it must be changed, and it will die if it remains unchanged."
The biggest "catfish" mentioned here is undoubtedly the snack mass merchandiser that has risen in the last two years.
The data shows thatThe No. 1 brand of snack mass merchandiser "Snack is busy".It is currently owned nationwideMore than 4,000 stores, coupled with many star investment institutions such as Sequoia China that it relies on, it is firmly in the top spot in the industry"Zhao Yiming Snacks", which was sued by BESTORE, ranked third in the industry with more than 2,500 stores
Source: Snacks are busy.
It is worth noting thatIn 2022, Zhao Yiming's revenue will be 121.5 billion, net profit of more than 38 million, arrivedIn the first half of this year, revenue and net profit reached 278.6 billion and more than 76 million
In only half a year, revenue and net profit have beenThat's twice as many as last yearThe growth rate is staggering.
At present, although BESTORE has sued Zhao Yiming Snacks, no matter how the case is pronounced, BESTORE will no longer be able to return to the ranks of shareholders of Zhao Yiming Snacks, nor can it continue to profit from the merger of these two giants.
In the face of this fast-rising snack market, BESTORE seems to have no choice but to stand on the opposite side of the giants.
In the entire casual snack market, no one thought about making a brand at the beginning, and more of the major factories were working at full capacity, and finally gathered to traditional retail platforms such as offline supermarkets for sales.
The emergence of BESTORE has, to a certain extent, set a benchmark in this industry. With its strong first-class chain level and years of efforts in food safety and other issues, the industry has gradually formed a threshold, and the high-end positioning of BESTORE has also been established.
It's just halfway throughSnack stores focus on cost-effectiveness, which has become a catfish in the entire leisure snack industry, has repeatedly declined, and has also attracted many consumers to pour in.
There is no doubt about itThe emergence of new characters has moved the cheese of BESTORE, which is why many people think that the casual snack track may inevitably have a ** war.
Source: BESTORE.
Including BESTORE, it was officially announced not long agoThe first price reduction in 17 years of existence, in essence, it is the "bright sword" of Zhao Yiming's snack and other wholesale stores. After all, judging from the company's performance alone, the performance of BESTORE, which has long become the first stock of high-end snacks, is not optimistic.
According to the financial report, from 2020 to 2022, the revenue of BESTORE will be78.9.4 billion, 932.4 billion and 94400 million, but itsHowever, the revenue growth rate has fallen from about 20% to less than 2%.Revenue growth in the first three quarters of this yearIt has directly becomeNegative
The performance was poor, and even the stock price of BESTORE also collapsed, compared with the higher light periodThe market value has shrunk by more than 50%.
Although BESTORE has put down its position and officially announced a price reduction, it even launched the affordable brand "Snack Stubborn" as early as the second half of 2022, focusing on cost performance by selling third-party products.
However, in the eyes of many industry insidersThe future of the casual snack market is likely to follow the old path of new tea drinks: high-end brands will reduce prices, and low-end brands will hope to increase profit margins through price increases.
Source: Zhao Yiming snacks.
This is also why a sentence that was once very popular in the new tea drink market will now be applied to the casual snack track, "It's not that Nai Xue Hey Tea can't afford to drink, but Mixue Bingcheng is more cost-effective."
In the future, the competition in the entire industry will intensify is certain, and whoever can seek a balance between quality and service earlier may be able to re-lead the next era.
As for what stands behind the snack boss, who cares?Ladies and gentlemen, what do you think?Everyone is welcome to discuss and exchange in the message area