Cudy is out to sea to open a branch in Korea?!
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On August 4, a netizen posted that he saw a Coffee Coffee in Seoul, South Korea, which is currently under renovation and is not sure whether it is true or not.
In addition, some IP netizens in South Korea also successively said in the comment area that the Kudi store was real. In addition to Jiangnan, there is another one in the new village, which has been recruiting baristas recently.
When it comes to the development of overseas markets, some netizens directly think of Kudi's "counterpart", that is, Ruixing, which has set up ten thousand stores and has opened 12 direct branches in Singapore. "Why didn't Xiao Rui go, next to Xiao Di?"is Rui lucky not to come this time?"Xiao Rui, have a look at the shop next door."
In response to Kudi's entry into the coffee market in South Korea, some netizens pointed out that it was commendable that Kudi chose to take the first step in South Korea, which is full of coffee shops. Of course, many netizens said they were not very optimistic about this. After all, the local coffee in South Korea has a large quantity, low price, many choices, and is also densely distributed. I am afraid that foreign brands are not competitors to local cafes. "it feels like Kudi Ruixing can't survive in Korea." isn't Korean coffee very rolled? Ku (Di) really has some guts on his body.
For Kudi's extremely rapid store expansion speed, in addition to entering the foreign market, the store layout in the domestic market has also reached a record of 5000. It is reported that also yesterday, Lu Zhengyao, founder of Kudi Coffee, celebrated the official opening of Kudi's 5000th store in moments, which is located in Beijing Sanlitun SOHO Shopping Mall.
Since COTTI COFFEE opened its first store in IFC, Fuzhou on October 22, 2022, it has launched the "Coffee Dreamer" program, using the "full joint venture" model to open a high-speed expansion. In early 2023, Kudi announced the goal of "10000 stores in three years". Only nine months after the opening of the first store, it has opened 5000 stores, with an average of 500 stores per month.
Behind the high-speed opening of a new store, Cudy relies on a low-price promotion of 8.8 yuan, while focusing on joint marketing activities, plus huge subsidies. Once the subsidies are stopped, the cup volume of Kudi Coffee stores will be greatly affected, making it more difficult to make profits and lengthening the current cycle. As a result, the recent closure of Coffee Coffee is also staggering.
According to media financial graffiti reports, Cuddy closed 332 stores this year, and 152 new stores in the past 90 days, equivalent to 1.7 stores a day, far higher than other coffee brands.
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