Operator Caijing Yixin/Wen
Recently, Zhang Junjie, the founder of the new tea brand Bawang Chaji, publicly announced the company's business data for the first time, which attracted a lot of attention. While highlighting the performance, he also shouted that the goal was to surpass the sales of Starbucks in China. What's the actual situation?
According to public reports, Zhang Junjie revealed that Bawang Chaji will achieve a GMV of 10.8 billion yuan in 2023. In the first quarter of this year, the GMV reached 5.8 billion yuan, more than half of last year in a single quarter. In terms of the number of stores, Bawang Chaji had 3511 stores last year, with a growth rate of 233%. At present, the number of global stores of the brand has exceeded 4500.
This data seems to be good, so Zhang Junjie has set a target of 2024, that is, China's sales will surpass Starbucks China.
It is worth noting here that GMV is the total sales, but this data does not represent the total revenue of the company. At the same time, this sales is not all for the company, including the share of franchisees. However, since Zhang Junjie did not disclose the specific situation of his franchisees, it is impossible to judge the revenue of his company.
What if we only look at the data of GMV? In fact, the total sales of Bawang Chaji is not dominant. Take the new tea drink brands like Mixue Ice City, Guming and Chabaidao, which are also popular with consumers at present. According to the prospectus of these three companies, in the first three quarters of last year alone, the terminal retail sales of Mixue Ice City reached 33.1 billion yuan, Guming GMV19.2 billion yuan, and the total retail sales of Chabaidao stores were about 16.909 billion yuan. As Mixue Ice City and Chabaidao mainly retail through terminal stores, Therefore, this figure is also approximately close to sales. That is to say, the GMV of Bawang Chaji is not as good as that of Tea 100.
According to the operating data of Starbucks China last year, its operating revenue last year was 3.161 billion US dollars, equivalent to about 22.751 billion yuan. It did not disclose GMV data. In the first quarter of this year, the sales of Starbucks stores in China fell by 11% year on year, which was a poor performance.
Can Bawang Chaji achieve its goal in 2024? The operator Caijing will continue to pay attention.
