Seesaw stores are closed all over the country!
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At the end of the year, the news of the closure of boutique coffee brand Seesaw Coffee ("Seesaw") nationwide has aroused widespread concern and discussion on social platforms.
Not long ago, some netizens posted that the Seesaw Chongqing Vientiane City store was closed. According to the announcement, the store will be closed from December 27. The official did not disclose the reasons for the closure, but only stressed that the company is arranging the new stores in an orderly manner.
Subsequently, some netizens found that after the first store in Chongqing, Seesaw in Wuhan is about to withdraw from the local area, and all stores plan to close down after December 31. Thoughtful netizens also urged everyone that if they have not spent all their stored value cards, they can operate a refund on Mini Program or send them to their families around the purchase.
Search for the keyword "Seesaw closed" on Little Red Book, and you can see that many coffee lovers have posted posts saying that Seesaw, which they used to patronize before, is closed. For example, Shanghai K11 Art Shopping Center closed on May 30, Bailian Century Store closed on September 22, Shanghai Changning International, Beijing Oriental Plaza and other stores are no longer open, and notices of "shop adjustment and suspension of business" have been posted at the entrance.
Some netizens feel very sorry for the news that Seesaw has been shut down in many places, sighing for their favorite coffee brands to withdraw from the local market; others believe that it is now in the "big cleaning" stage of the coffee track, and the brand's coffee taste is average, the price is expensive, and there is no clear core competitiveness, so "closing the shop is reasonable."
It is reported that Seesaw started in Shanghai in 2012 and is one of the earliest brands to operate boutique coffee in China. It is praised for its image of pursuing boutique flavor and has a place in the hearts of many coffee lovers. In 2020, Seesaw stepped up its research on creative coffee categories, and differentiation made the brand begin to attract the attention of the industry, which led many consumers to call it "the leader of creative coffee".
At the same time, Seesaw is also favored by a lot of capital. Between 2017 and 2022, Seesaw received three rounds of financing ranging from 45 million to hundreds of millions of yuan, allowing the brand to successfully open stores in 21 to 22 years. However, Seesaw's pace of store development has never been able to catch up with its goal.
The founders of Seesaw have revealed that the number of stores is planned to reach 200 by the end of 2022, with a target of 500,000 to 1,000 in the next five years, according to the winner. But as of December 4, Seesaw had opened 135 stores across the country, including 70 in Shanghai and the rest in first-tier cities such as Beijing, Hangzhou and Shenzhen, according to narrow-door catering data.
By 2023, the pace of Seesaw's store opening slowed significantly. According to public sources, the latest launch of Seesaw is still in August, that is, the brand has not opened a new store for four months. Not only that, but now it has been repeatedly exposed the dynamics of shop closure and withdrawal, which obviously goes further and further with the goal of "500 stores".
Finally, let's wait and see whether Seesaw can turn the tide in the future coffee market.
Picture from: Xiao Hong Shu
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