Is Yin Feng, the Wings of Coffee, bankrupt?

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"in the 17 years since we started our business, our financial results have been negative for the first time. Shareholders and employees understand that we sacrifice short-term interests in order to run better in the future. "

Yin Feng, president of Coffee Wing and known as the "immortal sister", foresaw the loss in 2016. In an exclusive interview with reporters, she said that Coffee Wing had made some preparations for the preparation and construction of the new business line in 2016, so losses were expected, the board of directors also communicated on the matter, and shareholders understood. The board of directors of Coffee Wing has always been famous for its star-studded stars, including famous host he Jiong, 58.com CEO Yao Jinbo, Jumei Chairman Chen ou, and Zhenshun Foundation founder Li Zhujie. Yin Feng told reporters that after the release of the annual report, directors have sent messages to express their understanding and support, "do not care about external doubts, immerse yourself in business, lay a good foundation, we value the future."

So, what is the future?

Main business two to four

In Yin Feng's view, listing and becoming a public company is the first step in realizing her coffee dream. Therefore, although she knew full well that she would sacrifice some short-term interests and encounter some ups and downs, she still insisted on listing.

"Seventeen years later, not forgetting our original ideals and aspirations, we still want to create a coffee brand that everyone likes and is suitable for social networking in cities with Chinese characteristics in the Chinese coffee industry."

Before the listing of Coffee Wing, Yin Feng was also thinking about how to make the company more vitality and more imaginative space for its development. Her research subjects range from international catering giants Starbucks, McDonald's and KFC to listed companies such as 58.com, Jumei, psychic jewelry and Yongqing Environmental Protection. "they often think about their business model," she says. For example, after 58.com 's listing, the new business that continues to grow after listing, such as Guazi, transfer, home, and recruitment, continues to expand on the basis of its original old business.Therefore, only when the strategic layout and business foundation are established, can the enterprise develop abruptly based on its accumulated strength. "

According to Coffee Wing's 2016 results, the company has only two main business lines: one is offline store revenue, and the second is franchise revenue, both of which are partial to the traditional cash flow business, with stable but limited room for growth. "only by making a strategy and layout in advance can the company break through the original stable and reasonable growth. After studying and discussing for a long time, we decided to lay out two more business lines. "

Yin Feng plans the new two wings of the company's profits, the first is the supply chain business, and the second is the urban intelligent coffee machine.

Supply chain business is a very professional area, R & D products factory recovery, continuous and stable quality, factory inspection and control, logistics system guarantee, national warehousing layout …... All these require professional team building and implementation. Yin Feng and her team have been working continuously on team and business optimization from 2016 to the first half of 2017. Yin Feng said that these will become a very important follow-up productivity of Coffee Wing and will grow into new sales growth and profit growth.

The city intelligent coffee machine is a project that Yin Feng was planning many years ago. She wants to use the smart coffee maker as the starting point for the retail terminal business and turn it into an unattended, lighter city coffee shop. After the completion of the national layout of the coffee machine, not only can the machine sell freshly ground coffee, frozen fruit drink, milk cocoa, etc., what is more worthy of expectation is that the 1.2 square meter point of the coffee machine will continue to expand and derive more related retail business. it will also be an important import of C-end traffic. "Coffee machine is actually our retail terminal business line, which matches the entire online strategy in the future."

At the beginning of 2016, Coffee Wing and the professional and technical team of outsiders independently developed a conceptual intelligent coffee machine, which not only has the professional function of the grinding coffee machine, but also has the game function of pan-entertainment, and the streamlined design is very cool. I'm also applying for an application patent, and the idea is to be the apple in the coffee machine. However, because the stability of the intelligent concept machine Yin Feng believes that it has not yet met the requirements of universal commercial applications, the launch has been postponed. At present, a customized German technology coffee machine is introduced to the market, and 70% of the components are imported from Europe and the United States. Higher stability, stronger marketability.

"one horizontal and one vertical" layout market

In Yin Feng's plan, Coffee Wings officially began to wave its new wings in 2017, so she showed great confidence in the future.

"We have to make continuous efforts to first achieve a market capitalization of 2 billion, and then move towards a market capitalization of 10 billion."

Yin Feng's ambition is also based on the long-term persistence and optimism of the Chinese coffee market.

According to the London International Coffee Organization, the United States drinks an average of 400 cups of coffee per person per year, compared with 200 cups in neighboring Japan and 140 cups in South Korea. But at present, the average Chinese consumes only 4 cups of coffee per year, while Beijing, Shanghai, Guangzhou and other big cities consume only 20 cups per person per year.

On the other hand, compared with the global average growth rate of 2 per cent, China's coffee consumption is growing at an astonishing 15 per cent a year. From a development point of view, if everyone in China drinks a cup of coffee every day by 2020, the coffee bean market alone will reach US $50 billion a year, and the entire industry chain will generate a market of hundreds of billions of US dollars. China is expected to become the most potential coffee consumer in the world, and there is a huge space for the development of China's coffee industry in the future.

Yin Feng believes that with the post-90s and post-1995 generation entering the society, the development of China's coffee market will become faster and faster. The post-85, post-90s and post-00s are the generation that has grown up in the Internet era. With the flattening and internationalization of information, their consumption habits are also very different from those of the post-60s and post-70s. The rise of this group will give the young coffee culture a great opportunity for development.

All these data show that the tuyere in this field has come, and we will seriously plough this market.

If Coffee Wings was a little conservative in the past, it's time to dress up and finally usher in the tuyere of transformation.

This year, Coffee Wing put forward the development strategy of "one horizontal and one vertical".

The "vertical" is to open up the coffee product chain, which is divided into three layers: the first floor is the offline coffee chain, the second floor is the lighter mobile retail terminal of the urban intelligent coffee machine, and the third layer is the coffee retail products that will enter the supermarket channel and e-commerce channel in the future.

"Heng" refers to the brand management output of Coffee Wing. In 17 years of operation, Coffee Wing has developed a perfect brand management system, with eight operation systems in line with international chain standards, five management manuals, and a mature, professional and highly professional operation and management team. In particular, the intelligent management SaaS system driven by big data, which makes Yin Feng very proud, has realized the remote information management of stores across the country. These mature management experience will not only be provided to franchise partners in the future, but also can be exported to other light-operated coffee sub-brands in the market, incubating more fashionable coffee sub-brands.

There is a tiger sniffing the rose in my heart

"I want to be a great, inheritable brand and spread an international, fashionable and accessible concept of life. It can be passed on for decades, hundreds of years of a culture, a way of life. "

In the face of the grand business dream, Yin Feng always insists on a steady style. She "has a sense of crisis every day" and "treads on thin ice" every time she makes a decision.

Whether it is the research and analysis of the supply chain infrastructure, or the persistent pursuit of the stability of the intelligent coffee machine, her every step of the market decision gives people a sense of trust. There is almost no "I feel" in the interview, only rational judgments such as "research", "intensive research" and "data". But when it comes to the future, she shows a kind of persistence and idealism.

In Yin Feng's mind, he is far from successful.

She thinks of herself as a dreamer who works hard and sticks to her dreams. When it comes to starting a business, she is very modest, and what she thinks is that she is better than others is to "foolishly" persist. She has a special fondness for the coffee industry and has been adhering to the advent and outbreak of the Chinese market. She has never planned to give up. No matter what difficulties and obstacles she faces along the way, she is determined to cross the road in the face of mountains and water. Because we have persisted in this field for so long, accumulated for so many years, and deduced with 10,000 hours of expert theory, it is impossible for the brand of Coffee Wing not to rise abruptly based on its accumulated strength.

She has a clear understanding of the advantages of Coffee Wings.

"We know more about Chinese users and react more quickly to the market than international brands."

International brands of cafes mainly focus on first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen. Yin Feng believes that these first-tier cities have the commonality of international business and are highly receptive to foreign cultures. and the time of a cup of coffee can meet most of the business and social needs.

On the other hand, Coffee Wing started in Changsha, Hunan Province, and its stores are mostly distributed in China's second -, third-and fourth-tier cities, because in years of observation and research, Yin Feng found that urban residents in second-and third-tier cities have more time to socialize and enjoy, and, as a result, it has brought coffee value-added projects: coffee catering. Yin Feng believes that every city needs an urban social center, which is the third space outside work and home. The Coffee Wing model undoubtedly caters to this demand.

In addition, she also has operation models suitable for first-tier cities, such as the Coffee Wing high-energy series, the winglet series and the smart coffee maker free wing series, which will be laid out more to the first-tier cities. She laughs that this kind of development path is "the countryside encircling the city" with Chinese characteristics.

In many interviews, Yin Feng mentioned Starbucks. In her heart, Starbucks is a great company, her role model and her pursuit. Coffee professionals like to say that Starbucks is not the best coffee, but Starbucks has spread and promoted a young coffee culture and an urban white-collar lifestyle around the world, she said. She motivates herself with Starbucks as her goal. "maybe one day, there will be a company as great as Starbucks in China's coffee industry that will be able to compete amicably with it to promote the market and create a third space outside the home and office that Chinese people really like best. to make urban life better, this is not ambition but pursuit!" She smiled and said.