Manji dessert merged with Xiaoman tea farm. Some analysts pointed out that Manchu dessert has a certain brand scale and consumer groups, while Xiaoman Tea Farm is closer to the current young consumer groups. The two sides can leverage each other, and Manchu dessert and Xiaoman tea farm will be formally merged.

The merger of Manji Dessert and Xiaoman Tea Farm was officially announced 1 The dessert giant "Manji Dessert" announced the merger with Xiaoman Tea Farm, and the new group completed a new round of financing, which was jointly led by a well-known catering group and a new consumption unicorn company. Different from the merger of similar consumer brands in the past, the merger of Manji dessert and Xiaoman tea farm is a rare "marriage between old and new" in the consumer field; It is also regarded by the outside world as a short-term move between each other.

According to public information, "Manji Dessert" 1995 was founded in Hong Kong, focusing on the concept of dessert afternoon tea. 20 10 after the establishment of Manji's Shanghai headquarters, Zhang Zhilu began its large-scale expansion in the mainland. The counterparty Xiaoman Tea Farm is a new tea brand established on 20 19. It started with cherries and focused on high-end fresh fruit tea making. Since its establishment, Xiaoman Tea Farm has completed four rounds of financing, with the accumulated financing amount exceeding10 million USD.

In recent years, under the squeeze of new tea, the days of old-fashioned desserts with aging brands are not easy. Cnbdata's White Paper on New Tea in 2020 shows that the market scale of new tea is expected to exceed 1 1000 billion yuan in 2002/year.

At the same time, drinking tea for dessert has become a new trend in the development of the industry. From fairy grass and sago dew in cups to fresh fruits such as poplar honey and ice cream introduced by major tea brands, traditional desserts are accelerating tea drinking, and the boundary between them is becoming increasingly blurred. The market competition between them is getting more and more exciting.

Marriage between old and new consumer goods makes up for shortcomings

"Man Ji Dessert" is a traditional dessert giant. 1995 was founded in Hong Kong, specializing in dessert afternoon tea. 20 10, Manji Shanghai headquarters was established, and it began to expand on a large scale in the mainland. At one time, the number of stores approached 500. According to media reports, in June, 20021,Andafu Capital successively completed the acquisition of Manji Hong Kong, South China and East China, and integrated its stores in Southeast Asia, Hong Kong and the Mainland, realizing the unification of Manji brand for the first time.

Andafu Capital is a private equity institution that makes equity investments in the Asia-Pacific region. Founded on 20 13, it was founded by three founders: Brad Landers, Zhu Jianyi and suresh Prahala. It has offices in Hong Kong, Shanghai, Singapore and Mumbai. Manji Dessert is the first holding acquisition of Andafu Capital in the catering field in China.

The other side of the transaction, Xiaoman Tea Farm, is dominated by high-priced cup-shaped fresh fruit tea represented by cherries. Its founder, Liu Zizheng, once invested in Huaping, and was responsible for consumption and Internet investment in China. 20 19 resigned to establish a brand. Previously, Xiaoman Tea Farm was invested by many institutions such as White Capital, Xianfeng and Yuanhe Origin, and there are currently 15 in China.

When this round of merger was completed, Liu Zizheng, the founder of Xiaoman Tea Farm, publicly stated that the merger of Manji Dessert and Xiaoman Tea Farm was a "marriage between old and new" in the consumption field. In the past, new and old consumers encountered different problems: traditional consumer brand products, operating systems and cost control were excellent, and the chassis was stable, but they lacked insight into the "front end" and brand power.

New consumer brands rush to the "front end", and the back-end support ability is often insufficient. "New Full Record" can fill both ends. It is reported that the new flagship store will be positioned as a medium-sized and large-sized store of about 200 square meters, and a brand-new dessert concept will be introduced. It will open in Beijing and Shanghai in the second half of this year.

Tea-based desserts are a tug-of-war between old and new forces.

At the same time, this "marriage" is also regarded by the outside world as a strategy to break old desserts under the containment of new tea. Double-skin milk, sago dew, mango fishing, etc. are all memories of young people born in 1980s and 1990s, and also mark the past glory of traditional Hong Kong-style sugar water brands. However, in recent years, the traditional sugar water brand has gradually declined, and it is difficult to create the previous explosions;

At the same time, with the rapid rise of new tea, brands such as Xicha and Naixue have successively launched dessert-style teas such as Yangzhi Ganlu, Taro Milk and Xiancao, and the market space of old sugar water brands has been further squeezed. In addition, with the new tea marketing widely planted in Tik Tok, Weibo and Xiaohongshu, and the Internet traffic is "infiltrating" new consumption, it is naturally difficult for young consumers to see the old-fashioned desserts with offline thinking in the past.

For example, Xu Liushan, a 60-year-old Hong Kong-style dessert brand, closed down in the summer of 20021year due to brand aging and poor management. Last June, according to media reports, the time-honored dessert shop "Xu Liushan" was issued a liquidation order because it was unable to repay its debts, and the supervision required it to sell all its assets to pay off its debts and terminate its operation.

It is worth noting that brand aging and limited consumption scenarios are the * * * problems faced by time-honored enterprises. According to public data, the number of Chinese time-honored brands has decreased from more than 1000 in 1950s to more than 1000 at present, among which only 10% of enterprises are thriving, and most of them have experienced operational crisis. It can be seen that the days of established enterprises are not easy.

This time, the marriage of "Manchu dessert" and "Xiaoman tea farm" is regarded by the outside world as a further inclination to new consumption. In fact, Manji is also a traditional brand that "surfed the Internet" earlier. As early as a few years ago, Manji had taken the lead in laying out the Internet field and opened take-away channels on platforms such as Meituan and Hungry. Subsequently, the "Honeymoon Express" was jointly launched with Box Ma Xiansheng.

Obviously, the contest between old-fashioned sugar water and new tea, represented by Man Ji, continues. Cnbdata's White Paper on New Tea in 2020 shows that the market scale of new tea is expected to exceed 1 1000 billion yuan in 2002/year. At the same time, drinking tea for dessert has become a new trend in the development of the industry. From the fairy grass and sago dew in cups to the fresh fruits such as poplar honey and ice cream introduced by major tea brands, traditional desserts are accelerating tea drinking, and the boundary between them is becoming increasingly blurred.

Manji dessert and Xiaoman tea farm merged. 2 Manji Dessert was blessed by famous tea on the Internet, seeking a breakthrough. Recently, a news about the merger of Manchu dessert and Xiaoman tea farm attracted attention. Subsequently, today's reporter from beijing business today asked the parties for verification and was affirmed. The "marriage" between a 27-year-old traditional dessert brand and an online celebrity tea brand that has just debuted for three years is unanimously considered as a "short board" by the industry, and it also shows us the determination to transform a full house of desserts.

Some analysts pointed out that Manchu dessert has a certain brand scale and consumer groups, while Xiaoman Tea Farm is closer to the current young consumer groups. Although the two sides can draw on each other's strengths, how to integrate development and form a joint force still needs deep running-in. Whether the "New Ji Man" can improve its product innovation and landing efficiency is still the key to go on.

The merger of new and old brands

Traditional dessert is combined with new tea. Recently, it was reported that Manji dessert merged with Xiaoman tea farm, and Liu Zizheng, the founder of Xiaoman tea farm, will be the president of Manji dessert parent company and co-CEO of Manji dessert.

Not only that, with the changes of Manji Dessert Company, its management team has also added fresh blood. It is understood that Hu, former head of supply chain of Starbucks in China, coffee distributor, Xiaoman Tea Farm and former head of operation of Starbucks in China will join * * *.

Regarding the merger of the two brands, beijing business today reporter contacted Manji Dessert (Shanghai) Co., Ltd. today, but the phone was not connected before the press release, and its customer service staff said it was unclear. At the same time, beijing business today reporter today also contacted Xiaoman Tea Farm affiliated company Beijing Xinhuoxin Tea Network Technology Co., Ltd., and its relevant person in charge confirmed the merger of the two brands.

In the face of the joint efforts of the two brands, it is not difficult to see the determination of Manji dessert, a 27-year-old traditional brand, to change. According to Liu Zizheng in an interview with the media, after the merger, "Xinmanji" will open a new format store. The new flagship store is positioned as a medium-sized and large-sized store of about 200 square meters, and will open in Beijing and Shanghai in the second half of this year.

At the same time, he also revealed the ideas of snacks, gifts and daily necessities. It is not difficult to see that the upcoming full dessert will have new changes in channels, scenes and products.

According to public information, the first Manji dessert shop 1995 was born in Saigon, Hong Kong, and later opened stores in Shanghai, Beijing, Chongqing and other cities. Xiaoman Tea Farm was established on 20 19, and mainly deals in drinks made from fruits such as cherries.

each takes what he needs

In fact, manji dessert has been seeking various changes. In the aspect of IP interaction of film and television, Manji Dessert 20 19 interacted with Wandering Earth, and launched joint package and gift card. In cross-border brands, Manji Dessert has jointly launched afternoon tea products with Berez and Ahuatian. In the store scene, Manji dessert also tried take-away shops, smart restaurants, concept stores and so on.

It is not difficult to see that Manji dessert has been seeking more traffic. Nowadays, choosing to "co-produce" with an online celebrity tea brand that has just entered the industry seems to value its youthfulness to make up for its shortcomings and bring fresh blood.

On the other hand, in the whole dessert market, the survival of Manchu desserts is also a trend. With the diversification of current consumer demand, the past products and models of Manji dessert can no longer fully match the consumer demand, which is one of the important reasons for choosing "merger" now. At the same time, the continuous influx of new network red brands such as Gitzo Milk Dessert Family and Huangshi Xu Milk Dessert has indeed brought some pressure to traditional brands such as Manji Dessert.

Moreover, the blessing of tea brands and online celebrity restaurants in dessert, afternoon tea and other businesses has intensified the competition on the track. There are also many players who have dropped out. Earlier, it was revealed that Xu Liushan, an old dessert shop in Hong Kong, was ordered to liquidate by the Hong Kong High Court because she was unable to repay her debts, requiring her to sell all her assets to pay off her debts and terminate her operation.

Li Xingmin, an expert in marketing and industrial strategy, believes that Manji Dessert and Xiaoman Tea Farm have their own strengths, and both believe that brand, multi-product and supply chain are core competitiveness. However, the two sides are slightly different. Manji dessert has good control in the supply chain system, and has a brand and consumer base. Xiaoman Tea Farm has created explosive products and launched a series of products, which are close to the demands of young consumers. However, how to further improve the efficiency of the supply chain system and reduce the cost is their common aspiration.

Learn from each other's strengths and form a joint force.

Although the merger of the two brands can complement each other to some extent, different teams still need to get to know each other through running-in. In addition, judging from the planning of New Complete Record, the fields and formats involved have also increased, which also means that it will bring new challenges in many aspects such as product innovation and store efficiency. Therefore, how to complement each other's advantages and improve the efficiency and innovation ability of stores will be the next problem to be solved.

Lai Yang, chief expert of the research base of Beijing International Trade Center, believes that brands such as drinks, desserts, innovative light food and fusion cuisine are becoming more and more abundant, and consumers' choices are more diverse, which also affects Manchu desserts to some extent.

The combination of the two brands will have certain complementary advantages, but Manji dessert has been on the market for many years, while Xiaoman tea farm entered the market late, which is different in corporate culture and concept. How to integrate development and form a joint force is the key. For Manji dessert, the urgent task is still to build a product system, gain consumer recognition through product innovation and research and development, and thus improve efficiency.

Li Xingmin pointed out that the rise of new tea brands has brought a certain impact to traditional dessert shops. With the appearance of dessert drinks and instant desserts, the two categories learn from each other, which also brings opportunities and challenges to dessert enterprises. For "New Ji Man", it is necessary to combine the advantages of Manchu dessert and Xiaoman tea plantation, make a breakthrough in products and upgrade the brand, so as to attract more different consumer groups and support its subsequent expansion.

Manji Dessert and Xiaoman Tea Farm officially announced the merger. 3 Recently, the traditional dessert giant Manji Dessert merged with the new tea brand Xiaoman Tea Farm, and the founder of Xiaoman Tea Farm, Liu Zizheng, will be the president of Ren Zhigang Group (the parent company of Manji Dessert) and co-CEO of Manji Dessert.

At the same time of the merger, Zhigang Group also announced the completion of a new round of strategic financing, which was jointly led by a well-known catering group and a new consumer unicorn company. At present, Manji Dessert has nearly 300 direct stores in Chinese mainland, Hongkong and Singapore. The annual income is nearly 654.38 billion yuan, making a steady profit.

With the birth of "New Ji Man", the company's management team has been further strengthened. Hu Pai, the former head of supply chain of Starbucks in China, Xiao Man Tea Farm and the former head of operation of Starbucks in China will join * * *.

Manji Dessert 1995 was founded in Hong Kong, focusing on the concept of dessert afternoon tea. 20 10 after the establishment of Manji's Shanghai headquarters, Zhang Zhilu began its large-scale expansion in the mainland. With the direct operation mode and its own central factory system, and with the bonus of shopping centers, Manchu became all the rage around 20 10, and the number of stores in Chinese mainland was close to 500, which became a "sweet memory" for a generation.

In June, 20021year, ADV Capital partners successively acquired Manji Hong Kong, South China and East China, and quickly integrated their stores in Southeast Asia, Hong Kong and Chinese mainland and their cross-regional functional management headquarters. In the past 10 years, the business development of Chinese mainland Manji dessert was once limited by the separation of brand and scale. This acquisition is also the first time in the history of Manji dessert to realize the unification of global brand and scale.

As a Pan-Asian Dollar Fund in charge of US$ 654.38+02 billion, Manji Dessert is also the first holding acquisition of Andafu Capital in the catering field in China.

The counterparty Xiaoman Tea Farm is a new tea brand established on 20 19. It started with cherries and focused on high-end fresh fruit tea making. Since its establishment, Xiaoman Tea Farm has completed four rounds of financing, with the accumulated financing amount exceeding10 million USD.

However, compared with the head brands such as Xicha and Naixue, Xiaoman Tea Farm is smaller in scale and adopts the "boutique" model. At present, * * * has 15 stores in China, with an average monthly efficiency of 8,000 yuan.

After the overall consumption was cold and the industry entered a period of calm integration, the pattern of tea was basically finalized. The combination of Xiao Man's selection and Man Ji will be more conducive to creating the second growth curve in the same way.

Liu Zizheng said that merger is not an end, "the core is the reorganization of key production factors". Different from the merger of similar consumer brands in the past, the merger of Manchu dessert and Xiaoman tea farm is also the first "marriage between old and new" in the field of consumption.

In the past years, we can clearly see the problems encountered by new and old consumers: traditional consumer brands are "stable in chassis" (excellent in product, operating system and cost control), but lack insight into "front end" and brand power; New consumer brands have rushed to the "front end", but the back-end support ability is often insufficient.

This "new Ji Man" can fill these two ends. On the one hand, it draws lessons from Xiaoman Tea Farm's product innovation ability as a new brand, on the other hand, it relies on a powerful central kitchen and its own factory of Jiman Sweet Products.

After the merger, "Xin Man Ji" will also open the road of upgrading and open new business stores. It is reported that the new flagship store will be positioned as a medium-sized and large-sized store of about 200 square meters, and a brand-new dessert concept will be introduced. It will open in Beijing and Shanghai in the second half of this year.

Liu Zizheng also has some new plans on how to open up the dessert market and what new stores there are:

Dessert "snacks" The use of desserts should be unrestricted, not limited to space and utensils.

Dessert is a "gift-oriented"-driven transformation of catering from traditional on-site sales to higher-dimensional retail formats.

The "daily use" of desserts has promoted the quiet transformation of desserts to light food meal replacement.

Go back to the basic paragraph and rebuild. The traffic brought by compound interest and dazzling technology is unsustainable, and it does not support gross profit margin and repurchase rate.

Thanks to reducing costs and increasing efficiency, Manji dessert remained profitable during the epidemic blockade in March and April this year, and its cash flow was positive. Liu Zizheng said that in the "dark moment" of catering, he is still full of confidence in leisure catering, and the underlying demand for consumption is still strong and will continue to escalate.