The board of directors of the company recently completed the general election and the appointment of senior executives, and Gao Feng was elected as the chairman of the ninth board of directors.
After experiencing rapid growth and cautious adjustment, Jiujiujiu's previous goal was to become a "leader in Chinese cultural wine". After Gao Feng takes the helm, what changes will he bring to the drunkard? The industry believes that in the face of the increasingly prominent competitive pressure in the liquor market, if Jiujiu Liquor wants to return to the growth momentum and boost market confidence, it needs to formulate and implement effective strategies and make efforts in brand positioning, product innovation and channel expansion.
On February 22, Drunkard Liquor held an extraordinary general meeting of shareholders, Gao Feng was elected as the chairman of the ninth board of directors, and the new core senior management team was also formally determined. There are many "familiar faces" in the new team who have rich resumes in alcoholics, and the most attention is undoubtedly Gao Feng.
Screenshot of the announcement. Gao Feng joined COFCO Development Company in 1996, and then successively worked in the functional departments of COFCO Real Estate (Group) Co., Ltd. COFCO Land, COFCO, COFCO, COFCO, and COFCO Group.
At the 2023 Annual Alcoholic Liquor Conference held on December 9, 2023, Gao Feng made his first appearance in front of the liquor industry as the chairman and secretary of the Party Committee of COFCO Wine Investment. Gao Feng said at the time: "COFCO Wine & Spirits will fully support the management team of alcoholic spirits and start a new journey of high-quality development of alcoholic spirits." ”
At that time, there was speculation in the liquor industry that Gao Feng might be appointed chairman of the liquor company. On the one hand, as one of the six major brands of COFCO, Jiujiu Liquor is responsible for the mission of rural revitalization and revitalization of Xiangxi. In 2022, Alcoholic Liquor ranked 19th among the top 100 tax-paying enterprises in Hunan Province, contributing to the economic and social development of Xiangxi. On the other hand, the current drunkard liquor is facing the dilemma of declining performance and fierce competition.
The data shows that before 2023, alcoholic liquor has continued its high growth momentum, and in the first three quarters of 2023, the operating income of alcoholic liquor was 214.2 billion yuan, a year-on-year decrease of 3854%；Net profit attributable to shareholders of the listed company was 47.9 billion yuan, down 50 percent year-on-year75%。The decline in performance has been accompanied by doubts and criticism. Zheng Yi, general manager of Alcoholic Liquor, said: "Our management team has been facing criticism, accusations and even abuse of alcoholic liquor by society and the Internet every day in the past year. The drunkard also directly displayed these voices at the scene of the Fuyu Conference, such as "drunkard stalling" and "pressing goods and hype".
In addition, as the leading liquor enterprises continue to deepen their market layout, the "squeezing" competition situation of the liquor industry is becoming clearer, and the industry competition pattern is accelerating the reshaping. As a regional famous liquor company, Jiujiu Liquor also has to face competition from leading enterprises.
Effective strategies need to be developed.
After Gao Feng takes office, what can he bring to the drunkard?
Perhaps the most intuitive is the huge resources from COFCO. Bai Wenxi, vice chairman of the China Enterprise Capital Alliance, believes that Gao Feng has served in the COFCO system for a long time, and this time he is appointed as the chairman of the board of directors of the alcoholic spirits, and the alcoholic spirits can get the support of the brand, management, capital, market and other aspects from COFCO Wines and Spirits and even the entire COFCO system, which will help the alcoholic spirits to enhance their competitiveness.
Zhan Junhao, founder of Fujian Great Aim Brand Positioning Consulting, said in an interview with a reporter from the Beijing News that Gao Feng becoming the chairman of the board of directors may have an important impact on the future operation and development of alcoholic liquor. He needs to develop and implement effective strategies to reverse the company's decline, including adjustments in brand strategic positioning, market positioning, product innovation, brand promotion, etc. At the same time, it is also necessary to deal with many issues such as internal management and external market competition. ”
In fact, by the time of the peak debut in December 2023, drunkard liquor had already begun to change. The first is to further highlight its own characteristics and put forward differentiated development and focused development strategies. Alcoholic liquor said that unique production areas, unique flavors, and unique cultures are the "moats" of alcoholic liquor's differentiation, and the focus is mainly on resources, products, and markets. Under the guidance of this new strategy, Jiujiu Liquor proposes to continue to enhance its cultural strength, be a "leader of Chinese cultural wine", and at the same time deepen the base market, and strive to expand and strengthen the Hunan base market and the national regional model market.
In the face of the large-scale trend of the liquor industry, Jiuguijiu also proposed to speed up the construction of production capacity and expand the scale of China's fragrant liquor industry. Gao Feng said at the time: "It is necessary to speed up the construction of production capacity and double the production capacity in 2025; It is necessary to strengthen the construction of production areas, drive the value of categories with the value of Xiangxi production areas, drive industrial clusters with the construction of production areas, and build the pattern of production areas with the characteristics of production areas. ”
A return to growth needs to boost market confidence.
The market has given positive feedback on the changes in alcoholic liquor. The research report released by Guoxin ** on February 23 pointed out that in 2024, the alcoholic liquor will focus on the Hunan market and the Xiangxi market, and continuously refine the intensive cultivation plan in Hunan Province. From March to June 2024, Jiujiu Liquor may put various intensive cultivation plans in place in the province. In terms of the layout outside the province, under the premise of doing a good job in the Hunan market first, the alcoholic liquor has done a good job in 20 model markets in the country in an orderly manner.
Guoxin** also pointed out that in the short term, the company may still be in the adjustment stage, and will continue to adjust the market rhythm in the first half of 2024, and it is expected that it will enter the growth channel in the second quarter of 2024.
Before the 2023 full-year results are released, Alcoholic Spirits needs to continue to strengthen the market's confidence in it. Industry insiders said that confidence is extremely important for the long-term sustainable development of enterprises, and the alcoholic liquor chose to face sharp doubts at the Fuyu conference site, which also sent two signals to the market: first, the alcoholic liquor pays attention to the market and attaches importance to the problem; The second is that the drunkard has sufficient confidence and strength to solve the problem, so that the partners can rest assured.
Next, if Jiujiu wants to return to the growth route and occupy a place in the competition in the liquor market, it needs to start from brand positioning, product innovation, brand building and channel expansion. Zhan Junhao believes that there are many brands in the liquor industry, and the homogenization is serious, and if there is no clear differentiated brand positioning, it is difficult to have a long-term and stable consumer group and form competitive barriers; Alcoholic liquor needs to strengthen product research and development and launch new series with characteristics to meet the diversified needs of the market; It is also necessary to strengthen brand communication and public relations to enhance brand influence and consumer favorability; At the same time, we will optimize sales channels, strengthen cooperation with dealers, and expand emerging sales channels such as e-commerce platforms.
Beijing News reporter Xue Chen.
Edited by Zhu Fenglan and Zhang Mingxuan
Proofread by Zhao Lin.
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This article is the original content of Green Squirrel (ID: xjbxinshipin), and it may not be used without the written authorization of the Beijing News.