Investing in fried chicken shops, entering the Metaverse… Michelle Bingcheng wants to be “China’s Starbucks”?

Increasing the SKU of the store, driving consumers to buy other products through rich product categories, experiential consumption and marketing methods, thereby increasing the unit price of users, has become one of the few outlets for Michelle Ice City.

When it comes to Michelle Ice City, what comes to your mind?

Lemonade, Snow King Sundae? Or the “Sweet Honey Snow Ice City” that is popular all over the Internet? No matter what people’s first impression of Michelle Bingcheng is, it will eventually return to “a cheap big bowl of milk tea shop” – which has been its foothold for many years. However, Michelle Bingcheng seems to be unwilling to be only a milk tea shop. Since it quietly entered agriculture last year, it has taken up the idea of ​​fried chicken again.

According to the Tianyancha App, on April 21, the affiliated company of the brand “Chicken Boxed Fried Chicken”, Henan Container Catering Enterprise Management Co., Ltd., underwent an industrial and commercial change, and Michelle Bingcheng affiliated company Xuewang Investment Co., Ltd. was added to the list of shareholders. At the same time, the registered capital of the company increased from RMB 1 million to RMB 1.4286 million.

Investing in fried chicken shops, entering the Metaverse... Michelle Bingcheng wants to be "China's Starbucks"?

Like Michelle Bingcheng, this “chicken boxed fried chicken” also originated in Zhengzhou City, Henan Province, and its main category is Korean fried chicken.

In the first half of 2013, Li Yao, the founder of returning from Korea, opened a Korean restaurant in Zhengzhou called “Oh Thiyo”. The name comes from the transliteration of “Welcome” in Korean. After that, considering that it was difficult for customers to read the brand name, Li Yao changed the brand name to “Chicken Boxed Fried Chicken” in 2014, and the business scope was also narrowed from the big but not refined Korean food to a few such as Korean fried chicken. category.

At present, the founder Li Yao holds 42% of the shares of Henan Container Catering Enterprise Management Co., Ltd., while Snow King Investment Co., Ltd. has become the second largest shareholder, holding 30% of the shares, and the third largest shareholder Shenzhen Shengding Venture Capital Co., Ltd. The company holds 28% of the shares.

However, the scale of “chicken-packed fried chicken” cannot be compared with that of Michelle Ice City all over the country. After all, the expansion of the former has not been fast in recent years. According to the data released by the narrow door dining eye database, the number of “chicken boxed fried chicken” currently has only 6 stores in the country, including 5 in Henan Province and 1 in Zhejiang Province.

Investing in fried chicken shops, entering the Metaverse... Michelle Bingcheng wants to be "China's Starbucks"?

It may take a long time to wait until this young fried chicken brand grows up. However, the investment in “chicken-packed fried chicken” also shows a point- besides drinks, Michelle Ice City is trying to expand into more areas.

Previously, Michelle Bingcheng opened a “Snow King Castle Experience Store” in Zhengzhou, Henan Province. This experience store not only sells milk tea and DIY ice cream, but also sells snacks such as chicken skewers, rice cake skewers, gluten, and fried chicken chops. And also attractive enough for the price. It is reported that the fried skewers in the experience store are divided into two stalls: 5 yuan/10 skewers and 9 yuan/10 skewers. The unit price of fried chicken chops, onion rings and other fried foods is also less than 10 yuan. The cost-effective experience accumulated in the field has been brought into full play.

Interestingly, Henan Michelle Bingcheng Beverage Co., Ltd. has also added some new business scopes recently, including liquor business; Internet sales; daily necessities sales; toys, animation and entertainment products sales; daily masks (non-medical) sales Wait; earlier, Mixue Bingcheng also applied for trademarks such as “Mixue Metaverse” and “Snow King Metaverse”, and its intention to curry favor with young people was obvious.

Why does Michelle Bingcheng reach out to other fields? The answer is actually not hard to guess.

Investing in fried chicken shops, entering the Metaverse... Michelle Bingcheng wants to be "China's Starbucks"?

Previously, Michelle Bingcheng has always been cost-effective to attract consumers, but in recent years, domestic milk tea brands have expanded together, the milk tea market is almost saturated, and the growth space of Michelle Bingcheng has also been squeezed. Many provincial markets (such as Its base camp in Henan) is so dense that it is difficult to accommodate new Michelle Bingcheng franchise stores, and it is common for new store profits to be greatly discounted compared to publicity; The problem is also frequently seen in the newspapers.

All of this warns Michelle Ice City that the extensive expansion in the past is no longer feasible. It needs to expand slowly on the basis of the existing stock, and then use more refined methods to make more profits. But on the other hand, as a brand that started with cost-effectiveness, Michelle Bingcheng cannot increase profits by raising prices rudely, which will only make it lose the favor of a large number of consumers.

In view of this, increasing the SKU of the store, driving consumers to buy other products through rich product categories, experiential consumption and marketing methods, thereby increasing the unit price of users, has become one of the few ways out for Michelle Ice City. The previous experience store model is more like testing the attitude of consumers. If Michelle Bingcheng finds out which categories are more popular with consumers, it may choose to copy these categories into stores around the world.

Investing in fried chicken shops, entering the Metaverse... Michelle Bingcheng wants to be "China's Starbucks"?

Of course, it is not ruled out that Michelle Bingcheng will spread Henan’s experience store model across the country, just like the concept of “third space” promoted by Starbucks, and this will also be a major factor for its high-end process and revenue-generating ability. The good thing – after all, who can refuse a “third space” that has all the attributes of food, drink, and entertainment at a reasonable price? As for whether the promotion of the experience store model will have a certain impact on the cost of Michelle Ice City, it will test its ability to balance.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/investing-in-fried-chicken-shops-entering-the-metaverse-michelle-bingcheng-wants-to-be-chinas-starbucks/
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