Boutique coffee is hot! "FISHEYE fisheye Coffee" received tens of millions of yuan A round financing

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FISHEYE fisheye Coffee recently announced the completion of tens of millions of yuan A round of financing, which will be used to further expand stores, enhance products and user experience.

FISHEYE fisheye coffee

FISHEYE fisheye Coffee, founded in 2010, is one of the earliest chain brands in China to focus on high-quality coffee. It attracted attention at the beginning of its establishment and was reported by a large number of domestic and foreign media. Fisheye Coffee completed its brand upgrade in 2017 and adopted the Internet model, opening more than a dozen direct stores in Shanghai and Beijing successively. The brand-new fisheye coffee stores are all small and sophisticated stores that focus on self-service and delivery, and adopt a new retail format that combines online and offline, which can not only serve customers who come to the store to meet the traditional coffee consumption needs, but also break through the coffee consumption scene. expand the coverage of a single store several times. Users can pick it up at online stores, and they can also order coffee delivery and buy coffee beans and canned coffee products through WeChat Mini Programs.

Sun Yu, founder of fisheye Coffee, graduated from Washington State University and once held a senior management position at Apple and Amazon. In 2007, he returned to China to participate in the establishment of Apple's online store and the first direct retail store in China. He used to run a coffee shop in Seattle when he was in college, with more than ten years of retail and professional coffee brand operation experience.

There is a unified standard for quantifiable data in the whole industry chain of fisheye coffee from coffee bean roasting to baristas. Through the extensive use of high and new technologies, including artificial intelligence, to improve the operational efficiency of stores, to maximize the quality and stability of coffee products.

At present, the overall growth of the domestic coffee industry is rapid. According to the research data of Guoxin Securities, the annual growth rate of coffee consumption in China is about 15%. It is estimated that the sales volume of China's coffee market will reach 300 billion yuan in 2020. From the perspective of market share, there is a huge space for the development of ground coffee.

Fisheye coffee: make boutique coffee more approachable

In terms of product setting, fisheye Coffee changes the professional description of the traditional combination of "coffee bean variety + roasting form", streamlines SKU and introduces each coffee bean through more perceptible and figurative nouns such as "orange juice, jasmine, Earl Grey Tea", and only offers a choice of 6 coffee beans per season, in order to achieve the "small and refined" effect.

On the technical level, in view of the inefficiency and instability of the traditional hand-brewing mode, fisheye coffee has introduced technical tools to improve human efficiency and achieve standardized production. According to reports, the team participated in the research and development, customized full-motion Italian coffee machine, "brew" coffee robot. Instead of relying on professional baristas, headquarters can remotely monitor and issue new product menus through equipment networking.

Fully automatic hand brewing machine for fisheye coffee

As for the price problem, which has always been a common problem of boutique coffee, according to the data provided by fisheye coffee, the average customer order of fisheye coffee is 37 yuan, which is basically the same as Starbucks, and then fisheye coffee wants to do another price drop, which will be 1520% lower than Starbucks. The reason why this can be done is actually a strong correlation between the small store model and the own supply chain of fisheye coffee.

As early as 2012, as one of the earliest boutique coffee brands in China, fisheye Coffee set up its own coffee roaster. The emphasis on baking is because different regions and varieties of coffee beans require different baking processes, so the self-built baking plant is equivalent to controlling the style and flavor of the product at the technical level.

At the cost level, when the supply chain has its own and compressed the contract manufacturing link, it will be able to occupy a certain advantage in cost management and transform the profit space to the product. at the same time, the product quality will not be affected by subsequent market strategies and cost fluctuations.

Sun Yu, founder and CEO of fisheye Coffee, said: "China's post-1995 and post-00s people are gradually becoming the main consumer, and the coffee market is about to explode. With the gradual maturity of coffee consumers, the consumption scene of coffee is changing from the social attribute of "the third space" to the functional attribute of "daily drink". We are committed to providing customers with a cup of multi-channel and easily accessible, truly high-quality coffee. "

Wang Daoping, partner of Huachuang Capital, said: "Huachuang Capital has been concerned about the rapid development of China's coffee market for a long time, and we believe that in the process of daily consumption habits, local quality brands will have a lot of room for development. Fisheye coffee has been deeply cultivated in the industry for eight years, is the forerunner of domestic quality coffee, has accumulated rare domestic independent product research and development and supply chain capabilities, and is very good at turning the quality raw beans found around the world into cups of delicious coffee drinks. Fisheye coffee has accumulated a large number of fans and loyal users while providing consumers with delicious, convenient, affordable and happy daily coffee. We are optimistic that fisheye will become the head brand of daily coffee with local quality in China through its rich online and offline scene experience. "

Liu Bo, partner of Qingliu Capital, said that Qingliu Capital has always been very concerned about the coffee consumption market. Coffee is a consumer product with cultural attributes, which is both fast and slow, which can represent both efficiency and a slow life attitude. Qingliu is very concerned about the match between "people" and "things", and he believes that FISHEYE's team combination is a good match for what they do.

In recent years, in the face of the huge growth potential of China's coffee market, more and more new players, new business type, have emerged in this industry. Following the traditional cafe Costa, Pacific, carving time, and diffuse coffee, there are also new forms of coffee projects such as takeout coffee, convenience store coffee and self-service coffee machines. This time, FISHEYE fisheye coffee relies on "small and sophisticated" stores to improve operational efficiency. How far can it go to upgrade consumption in the mass coffee market? The coffee workshop will continue to pay attention to it.

Source: 36 Krypton, Hua Chuang Capital

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