来伊份的轻资产“转型术” 加盟模式成营收增长“主力军”

Core Viewpoint - The snack industry is shifting from a direct sales model to a franchise empowerment model, with the franchise model becoming a key driver for revenue growth for Laiyifen [1][2] Group 1: Business Model Transformation - Laiyifen is actively adjusting its business strategy by optimizing traditional small direct-operated stores and expanding its franchise network [1] - As of mid-2025, the total number of stores reached 2,979, with franchise stores accounting for 1,584, representing 53% of the total [1] - The proportion of franchise stores increased from 21.14% in 2020 to 53% in 2025, indicating a shift towards a chain management service and supply chain platform model [1] Group 2: Revenue Growth - In the first half of 2025, Laiyifen's revenue grew by 8.21% year-on-year, with franchise business contributing 722 million yuan, a year-on-year increase of 78.71% [1] - For the first three quarters, the company achieved a revenue of 2.854 billion yuan, a year-on-year growth of 13.12% [1] Group 3: Cost Management and Efficiency - The franchise model allows store owners to operate independently while the company provides supply chain support and management services, leading to a lighter asset model [1] - In the first three quarters of 2025, management expenses decreased by 4.73% and sales expenses decreased by 7.27%, with management expenses declining for two consecutive years and sales expenses for three years [1][2] Group 4: Support for Franchisees - Laiyifen has introduced a financial support plan for franchisees, with a total of up to 50 million yuan aimed at easing liquidity pressure for new and mature stores [2] - The company has launched a new store matrix, reducing single-store investment costs by 30% and offering up to 30% in construction subsidies [2] - Laiyifen is enhancing support for franchisees by optimizing site selection and marketing through algorithms and integrating its app with a mini-program for better inventory management [2] Group 5: Product and Profitability Enhancement - The company plans to continue developing innovative product categories and introduce high-quality non-owned brand products to meet diverse consumer demands [3] - Laiyifen aims to accelerate the digital transformation of existing stores to improve profitability through cost reduction and efficiency enhancement [3] - Industry experts suggest that with the ongoing expansion of the franchise business, Laiyifen has significant potential for operational cost optimization and improved future performance [3]