Exclusive interview with Yin Feng, the Wings of Coffee: be the Starbucks of Chinese people

For a long time, China's coffee market has not been very popular with capital, fine tonality leads to too small consumer groups, lack of innovation so that the whole industry is similar. Therefore, even if China's coffee consumption has grown rapidly in recent years and has great potential, capital is still not eager to enter.

Coffee Wing's listing broke the industry's deviation from commercial capital. Compared with many coffee shops that entertain themselves in niche markets, Coffee Wing, as the first coffee on the New Third Board, is obviously more than just making good coffee.

"Be Chinese's own Starbucks", this sentence Yin Feng said to himself at the beginning of his business, is considered by many people to be a fool's dream. Yin Feng did not care about this. In fact, this sentence can almost become the code for interpreting the development path of coffee wings now.

The wings of coffee that most people see are tightly wrapped by many stars in the entertainment industry and business circle. But aside from the halo that was stripped out after the listing, Coffee Wings has been established for 17 years.

Big waves wash away sand, and the rest is king. From exploring the coffee market, experiencing the culture of diaosi and low-price competition, to finally welcoming the rational return of the consumer market, the coffee wing has stood for 17 years, and its continuous profit is more worthy of attention than the bright surface.

On the occasion of the coffee wing bell listing, Rhinoceros Jun specially talked with Yin Feng about the coffee wing entrepreneurial process. You can also see from it, in addition to "immortal sister","only you belong to","white rich beauty" and other labels, another Yin Feng; so many entertainment, investment and business circle big coffee shares coffee wing, why do they come?

Starbucks in China to promote coffee for all

In the Internet age, coffee wings follow a path far from popular brands, but the same as Starbucks 'early history. Starbucks didn't start out of Seattle until more than a decade after it was founded, while Coffee Wing focused only on the Hunan market in its first 10 years.

During the interview, Yin Feng raised the slogan "Be China's Starbucks" no less than five times. But in fact, a more accurate understanding of this sentence should be to promote the popularization and popularization of coffee in China, just as Starbucks brings coffee culture to the whole world. So the slogan is more like a lofty conviction than a spontaneous leap forward.

In 1999, Starbucks brought coffee culture to China. So far, the cities covered are basically first-tier and second-tier cities. After coffee wing went out of Hunan in 2010, it has layout in 123456-tier cities. Yin Feng has his own explanation for this kind of play."The first and second tier cities are limited, and they often become the trial and error centers of big brands, while the largest consumer market in the future is below the second tier, so people have time to enjoy life."

After casting a wide net, Coffee Wings continues to make profits. This is due to their knowledge of the market. "I know it well," Yin Feng said confidently.

In terms of store size, Coffee Wing is only one tenth of Starbucks. Coffee Wings is also 30 years younger than Starbucks. On the way to the goal, Yin Feng said that she does not seek huge profits, steady brand and operation management ability is the focus of her business.

Yao Jinbo Chen Ou Joins for Food and Beverage Big Data

If only Yin Feng a cavity enthusiasm, coffee wings will not attract so many star investors into shares.

In 2006, Coffee Wing launched ERP background data management system, slowly integrating miscellaneous catering data, which contributed a lot to the company's brand replication and expansion.

Coffee wing investor-58 city Yao Jinbo is looking at this data. Yao Jinbo and Yin Feng are both bosses who belong to you. They are interested in the catering market, but they don't know how to access the offline traffic of catering. Since the ERP system was launched, Yin Feng has continuously participated in R & D with curiosity, trying to effectively precipitate customer and supply chain data. This attempt also makes it possible to change the current complex uncontrolled situation of catering.

From this data, Yin Feng found that different cities, different user groups have different consumption passwords. For different customer portraits, Coffee Wing also pushes the corresponding product structure.

Because she is proficient in data, Yin Feng also helped several enterprises with serious losses to turn losses into profits before. Her suggestion is: first calculate the break-even point clearly, push back the business according to the sales revenue, and cut off all the businesses and expenses that cannot generate revenue.

Not only Yao Jinbo, Jumei Chen Ou also phase coffee wing big data. He believes that coffee wings and Jumei have homogeneous places, that is, they are both large consumer markets based on women, driven by women. "The big data of future catering can be connected with e-commerce users, and there is also a process of Internet enterprise O2O." The two may be able to achieve strategic cooperation in the future."

Consumption upgrade pushes urban smart coffee machine

Although Yin Feng was born in the 1970s, his living environment is similar to that of the post-90s and post-00s generation. That's why she believed coffee culture would rise among young people at the beginning of her business.

The principle of consumption upgrading lies in the upgrading of consumer groups. She cited the example of Xi tea, just as the older generation had to make tea before drinking tea, and Xi tea turned tea into a delicious drink into a younger group, coffee wings wanted to extend coffee from cafes to society. One way to expand users is to launch urban smart coffee machines.

Last year, coffee wing, which has been profitable in a row, lost money for the first time. Catering enterprises that have always claimed to be "not short of money" have lost millions of dollars. The source of the loss is the upcoming city smart coffee machine.

Fully developed by Coffee Wing, the coffee machine can grind coffee in tens of seconds and offers up to 16 beverage options.

Although Yin Feng was helpless when it came to losses, she also knew the necessity of spending money in advance when innovating business and educating the market.

Xu Xiaoping of Zhenji Fund only had a brief conversation with Yin Feng and decided to invest in shares. He appreciated Yin Feng's sensitivity to people and things,"indicating that she also has a keen sense of market and user needs."

In the user experience, Yin Feng also has a "helper", coffee wing co-founder He Jiong. Both of them like petty bourgeoisie life and want to create a third space in the city besides home and office. Yin Feng manages the actual operation, and the best user experience, creativity and planning are provided by Teacher He. Earlier, Mr. He also held a meeting of Hunan TV stars at Coffee Wing.

After listing, Coffee Wing will carry out vertical and horizontal resource integration. On the one hand, we will continue to cultivate offline chain and derivative business, on the other hand, incubate and acquire fashionable coffee and restaurant brands, etc.

In Yin Feng's past entrepreneurial experience, life and work are clearly distinguished. Enjoy life seriously, brand intensive cultivation.

With the rapid development and listing, Yin Feng frankly work and life have been inseparable. Look at her circle of friends and the public account of Coffee Wing. Recently, she and her employees often work overtime. Listing the new three boards is just an action, how to do a good job after the strategic layout and business promotion, coffee will be nationalized, coffee wing still has a long way to go. Yin Feng also pushed the coffee wing to the new third board for the sake of the right way of business. Her high hopes for the company and the popularization of coffee looked like a distant utopia. She said she hopes to sustain profitability not for a few years, but for 50 years, 100 years, or even forever.