The popularity brought by the "Moutai halo" is envied by everyone, and recently, Cudi Coffee announced its cooperation with Moutai Group. However, its cooperation method is to directly and exclusively sell two Moutai series wines, which are currently priced at 599 yuan per bottle. With this "marriage", can Cudi Coffee and Moutai Group achieve a win-win situation?
Wine and coffee", cup after cup. After Luckin, Cudi Coffee also hugged Moutai's "thighs".
On January 29, Cudi Coffee's official WeChat*** tweeted, officially announcing the launch of two Moutai series of liquors in conjunction with the Moutai Public Welfare ** Project: "Moutai Bulao Liquor (Flower Age)" and "Maotan Liquor (Gu Zhihuan)", which are exclusively sold by Cudi Coffee to support youth employment and rural revitalization respectively. At present, some stores of Cudi Coffee have simultaneously put these two products on the shelves.
Not long ago, the "Sauce Latte" jointly launched by Luckin Coffee and Moutai has gained widespread attention, and its popularity is still vivid. In addition, Cudi Coffee is a new brand founded by Lu Zhengyao and Qian Zhiya, the founders of Luckin Coffee, and the competition between Cudi and Luckin has also attracted much attention.
It should be noted that although they all carry the word "Moutai", Cudi is cooperating with Moutai Health Liquor under Moutai Group, not Kweichow Moutai, a listed company familiar to consumers.
Cudi started selling Moutai 599 yuan health wine
It is understood that on December 11, 2023, the Moutai Public Welfare Association and Cudi Coffee announced the establishment of Moutai Bulao Liquor (Flower Age) Youth Employment** and Maotan Liquor (Gu Zhihuan) Rural Revitalization**. The name corresponds to the two liquors launched by Cudi Coffee this time.
In order to become the exclusive distributor of these two liquors, Cudi Coffee paid a lot of price. According to ** report,The above-mentioned ** will be invested by Cudi Coffee from the sales of these two wines of 10 yuan per bottle, and the part of less than 10 million yuan per year will be made up by Cudi Coffee, and there will be no cap when it exceeds 10 million yuan.
According to this calculation, Cudi Coffee needs to sell 1 million bottles of wine every year to reach the ** amount of 10 million yuan. As of October 22, 2023, Cudi Coffee has a total of about 6,000 stores worldwide, which means that with each store selling alcohol, a store will have to sell an average of about 167 bottles per year to achieve the goal.
According to the Cudi Coffee Mini Program, many of the company's stores currently have Moutai Bulao Liquor (Hua Zhi Jiu) and Maotan Liquor (Gu Zhihuan) on sale, and they have not yet been out of stock or sold out.
The sales of the two Moutai series of liquors are not yet known. However, compared with the hot search of the airborne hot search and the swiping screen of the circle of friends when the sauce latte was launched, Cudi Coffee sells wine a little "quietly". The official blog did not post a post to create momentum, and the tweet of ** only received about 5,000 views and 15 likes one day after it was posted, while the tweet about the "spokesperson red envelope cover" posted on the same day received 100,000+ views and more than 800 likes.
In addition, before these two wines became famous, ** followed one after another.
Before the two wines were officially launched, there were many posts of "complaints" from Cudi affiliates on social **, according to the description of the relevant posts, "Cudi headquarters forced all associated stores to order wine, a box of 6 bottles, and each store forcibly pushed two boxes, a total of 3360 yuan, and irrevocable, forced to deduct from the account, a large number of stores have received deduction information."
However, according to **, there are also affiliates who said that Cudi did not force the order. Cudi responded that the orders for these two wines are consistent with the daily orders of the store, and the first batch of orders will be one case for each of the two wines, and the payment will be settled on April 30, and the unsold part of the company will be recovered. The deducted store will complete the refund to the store balance account on January 22.
The drunkard means "Moutai halo".
In September last year, Luckin set a record of daily sales of more than 100 million yuan with the co-branded sauce latte with Moutai, and it also directly led to the company's performance. According to the data, its total net income in the third quarter of 2023 was 7.2 billion yuan, a year-on-year increase of 849%, and the average number of monthly trading customers reached 58.48 million, which also hit a record high.
It stands to reason that the cooperation between Cudi Coffee and Moutai Health Liquor can bring more ** to the company, why are the company's associates so resistant to selling Moutai?
The crux of it is that compared with Luckin, it is somewhat difficult for Cudi to rely on "Moutai" to achieve a breakthrough.
First of all, it should be noted that although they both carry the word "Moutai", Cudi Coffee is cooperating with the Moutai Public Welfare ** project, and the two liquors sold are produced by Kweichow Moutai Distillery (Group) Health Liquor Industry *** referred to as "Moutai Health Liquor").
It is reported that Moutai Health Liquor is one of the subsidiaries of Moutai Group, and there is a significant gap between it and Kweichow Moutai, a listed company well-known to consumers, in terms of revenue and popularity, and in 2023, Moutai Health Liquor Company will achieve revenue of 474.3 billion yuan, Kweichow Moutai is expected to achieve a total operating income of 149.5 billion yuan in the same period.
According to the official website of Moutai Health Liquor, its main products include "Moutai Alcohol", "Sauce Door Classic", "Taiyuan Liquor", "Moutai Bulao Liquor", "Maotan Liquor" and other series of products. The hard-to-find "Feitian Moutai" is from Kweichow Moutai.
Secondly, the price of the old liquor and Moutai sold by Cudi Coffee this time is 699 yuan bottles, and the current price is 599 bottles. The unit price of Cudi coffee is within 15 yuan, and there is a long-termThe activity of drinking coffee for 9 yuan is known as the honey snow ice city of the coffee worldA cup of coffee for 10 yuan and a bottle of liquor for 599 yuan are obviously not the same customer group.
Taiyuan Liquor, which is also a subsidiary of Moutai Health Liquor, was just launched on Moutai's official app i Moutai on January 27, with 1,800 bottles on the first day and a price of only 156 yuan bottles.
In addition, one or two co-branding may still have a sense of freshness, catching Moutai's "wool", consumers will also have aesthetic fatigue, and the enthusiasm generated by the hunting psychology will also decline. On January 22, Luckin once again joined hands with Kweichow Moutai to launch a new co-branded product "Sauce Chocolate", which also added Moutai products to Sauce Chocolate compared with Sauce Latte, and the response was much colder after it was launched on the market.
It is worth mentioning that despite the mixed opinions from the outside world, judging from Cudi's actions, it seems that it has long been eyeing the business of "selling alcohol". According to the Tianyancha APP, Cudi Technology (Hainan)** applied for the registration of a number of trademarks such as "Cudi Martini", "Cudi Sauce Fragrance", "Cudi Whiskey Cold Brew" and "Cudi Sauce Aroma Cold Brew" in September 2023, which are internationally classified as wine, catering and accommodation, convenience food, etc., and the current trademark status is pending substantive examination.
Benchmarking Luckin's Cudi Coffee
One is to cooperate with Kweichow Moutai to sell co-branded coffee, and the other is to cooperate with Moutai Health Liquor to sell bottled wine.
In fact, Cudi and Luckin have a long "relationship". After the Luckin financial fraud incident in 2020, Lu Zhengyao, the founder of Luckin, and Qian Zhiya, the former CEO of Luckin, founded Cudi Coffee on their own portals.
For a long time, Cudi Coffee has been chasing Luckin Coffee in terms of products, marketing, and quality.
In February 2023, the rapidly expanding Cudi Coffee announced the opening of the "Coffee Carnival in 100 Cities and 1000 Stores", in addition to giving newcomers 8In addition to the 8 yuan welfare, more than 70 hot-selling products 9Starts at $9.
Luckin soon took over, and in June of the same year, Luckin opened 99 yuan to drink coffee, and Luckin co-founder Guo Jinyi said at the August financial report that he would put 99 yuan activities are normalized.
The ** battle is in full swing here, and over there in terms of product types, Luckin and Cudi frequently collide. Both coffee shops specialize in milk coffee and fruit coffee. The launch of the raw coconut latte became a turning point in the development of Luckin coffee market in China. Cudi followed closely behind, producing highly homogeneous products such as raw coconut latte and thick milk latte.
In September 2023, when Luckin launched the sauce latte, Cudi also took advantage of the situation to launch the rice milk latte, and also played promotional copywriting such as "sauce fragrance or rice fragrance". StillAs far as the current results are concerned, Cudi has no products that can compete with big items such as Luckin Raw Jena Latte and Sauce Latte.
The most recent clash between Cudi and Luckin was a battle of spokespersons. On November 27, 2023, Luckin officially announced Yi Yang Qianxi as the global spokesperson. Cudi Coffee officially announced that Wang Yibo will become the brand spokesperson on January 5, 2024.
After Cudi and Luckin have competed on the same stage several times, the rising star Cudi is still some distance away from achieving "revenge" Luckin.
In addition to the lack of large single products in Cudi mentioned above, in terms of the number of stores, Luckin Coffee will open 2,437 net new stores in the third quarter of 2023, and the total number of stores will reach 13,273 by the end of the third quarter. On October 22, 2023, on the occasion of its first anniversary, Cudi announced that it had reached 6,061 stores worldwide and proposed to reach 20,000 stores worldwide by 2025.
Cudi's store expansion speed has surpassed that of Luckin, and even more than all coffee and tea brands in China, but it is easy to fight the country, but it is difficult to defend the country. According to the monitoring of the Jihai brand, the number of stores closed by Cudi has reached 270 in the past 90 days. Luckin's figure is 170.
In addition, although Cudi has always wanted to benchmark or even surpass Luckin, from the perspective of the capital market, the latter has gone through multiple rounds of financing since its establishment, and Cudi has not announced any financing news so far. If Cudi is to truly surpass Luckin, it will need to overcome various challenges and improve its competitiveness.