蜜雪“收割”瑞幸红利：幸运咖年内万店，打通一线城市丨咖啡变局

Core Insights - The company aims to expand its coffee brand, Lucky Coffee, to over 10,000 stores by early 2025, with a significant increase in new store openings and franchise inquiries in recent months [2][3][4] Expansion Strategy - Lucky Coffee has seen a 164% year-on-year increase in new store openings in Q2, with over 300% growth in franchise inquiries since July, particularly from first-tier cities [2][3] - Currently, Lucky Coffee operates over 7,000 stores across more than 300 cities, making it the fourth-largest fresh coffee brand in China [2] - The company is focusing on high-potential cities and has confirmed profitability in first-tier cities, optimizing store sizes to reduce franchisee costs [3][7] Sales Performance - Lucky Coffee achieved a peak sales day on July 12, with an average store revenue of 5,732 yuan and a 258% increase in delivery orders [3] - The brand maintains a cautious approach to delivery subsidies, ensuring that store profits are not compromised [3][8] Supply Chain and Cost Management - The company has invested significantly in its supply chain, including a new coffee bean roasting facility with an annual capacity exceeding 20,000 tons [5] - Lucky Coffee has reduced franchise investment requirements from 35 million yuan to 25 million yuan and lowered the age requirement for franchisees [7] - The brand offers competitive supply prices to franchisees, with costs below 70 yuan per kilogram compared to the industry average of over 100 yuan [8] Market Context - The coffee market in China is experiencing growth, with per capita coffee consumption rising from 9 cups in 2016 to 16.74 cups in 2023 [12] - The market is still in its early stages, with significant room for growth in chain coffee store density compared to tea beverage chains [17] - Competitors like Luckin Coffee and Kudi are also expanding rapidly, indicating a vibrant market landscape [14][18] Brand Positioning - Lucky Coffee is positioned as a "high-quality, affordable" brand, contrasting with competitors that target higher-end markets [19] - The brand's strategy includes increasing marketing investments alongside its expansion efforts [19][20]