以下文章来源于红餐网 ，作者红餐编辑部 红餐网 . 做餐饮，上红餐 ！一个有温度的餐饮产业服务平台。 本文来自微信公众号： 红餐网 ，作者：周飞飞，编辑：方圆，题图来自：视觉中国 "风很大的祐禾怎么说关就关了。" 网红烘焙品牌UH祐禾 （简称"祐禾"） 似乎正在一场急速的剧情反转。 2024年，快速扩张的祐禾实现门店数翻番，每到一地开店总能引发排队热潮，到了今年，扩张步伐 依旧不停的同时，却悄然关闭了北京、深圳、成都、重庆等地多家门店，其中不少门店开业不足一 年。 一、多个城市关店背后，祐禾悄 悄涨价 祐禾是近两年备受关注的烘焙品牌之一。 2016年成立于湖北的精品烘焙品牌祐禾，凭借门店现烤现卖、透明化操作间以及高颜值产品，俘获 了一众消费者。 2021年，祐禾开始走出湖北，将版图拓展到长沙、杭州、成都、重庆等城市。 到了2024年，祐禾外拓步伐进一步加快，进驻多个一线以及新一线城市的中高端商圈，引发排队热 潮，也将品牌声量不断推高。 今年以来，祐禾仍保持扩张势头，武汉、成都、广州、深圳、南昌等城市均有新店开出，并首次进入 青岛、赣州等地。红餐大数据显示，截至目前，祐禾开设了超130家门店。 开店的同时，下半 ...

布达佩斯中央市场对面马路不远处的路口，便是瓦茨街的尽头。瓦茨街是布达佩斯最繁华的步行商业街，北起弗洛斯马提广场，南至中央市场，全长约 600米，两侧多为18-19世纪建造的华美历史建筑，遍布各种品牌商店、餐厅和咖啡馆。 FOR B TRADITIONAL MARKET START I OHE To eg 4 1 and in 电 THE DELLE 1111 APE a 0 1 - SALE t 88 BUDAPEST it all 瓦茨街细节 瓦茨街一带是布达佩斯保存最完好的古典商业街区，沿街建筑各不相同，多半融合了新古典主义与折衷主义风格，外立面有各种各样的浮雕装饰和铸铁栏 杆。 瓦茨街所呈现的商业繁荣，是佩斯最真实的一面。相比安静的布达，佩斯承载了布达佩斯的大半商业繁华。 瓦茨街细节 占据布达佩斯1/3面积的佩斯，有着远比布达平坦的地势，城市化程度极高。它最初是凯尔特人的定居点，罗马人在布达建成阿昆库姆军事要塞之后，在 多瑙河对岸的佩斯区域建立了辅助营地。中世纪时的佩斯已是独立城市，1241年毁于入侵的蒙古人之手，不久后重建。1873年，它与布达和奥布达合并为 布达佩斯。 瓦茨街细节 也正是在合并之后， ...

Core Insights - Emmi, a Swiss dairy major, is acquiring The English Cheesecake Company to enhance its desserts portfolio and solidify its position as a "category captain" following a previous acquisition of Mademoiselle Desserts in France [1][5] Company Overview - The English Cheesecake Company, founded in 2000, specializes in premium cheesecakes based on traditional British recipes, offering a range that includes classic, vegan, frozen, and snack formats [2] - The company generated sales of approximately £23 million ($30.1 million) in its last financial year and is listed with major UK retail chains while also supplying the foodservice channel [2] Financial Performance - The English Cheesecake Company reported a turnover of £22.8 million in the year ending 31 March, an increase from £19.8 million in the previous year [3] - Operating profit rose to £1.6 million from £1.4 million, and net profit increased to £1.1 million from £925,622 [3] Strategic Rationale - Emmi's acquisition of The English Cheesecake Company is seen as a strategic move to enhance its presence in the premium cheesecakes segment, aligning with the global indulgence megatrend [5] - The acquisition is expected to create synergies within Emmi's portfolio and strengthen its distribution strategy in the UK market [5] Market Position - Emmi operates in around 60 countries with 72 production sites across 13 markets, employing approximately 12,000 people [6] - In the first half of 2025, Emmi's group sales increased by 12.7% to SFr2.27 billion ($2.8 billion), largely driven by a positive acquisition effect of 11.8% despite a negative currency impact of 3.5% [6]

Group 1 - The article highlights consumer behavior regarding small expenses and the tendency to avoid perceived unnecessary costs while making larger purchases [2][3][4][5] - It illustrates various scenarios where consumers prioritize saving on minor fees, such as delivery charges or packaging costs, even when it leads to higher overall spending [2][3][4][5] - The narrative emphasizes the contrast between spending on experiences or items deemed valuable versus being frugal on smaller, seemingly trivial expenses [3][4][5] Group 2 - The article presents a series of anecdotes that reflect common consumer dilemmas, showcasing how individuals often overthink minor costs while being willing to spend significantly on other items [2][3][4][5] - It suggests that these behaviors are relatable and reflect a broader trend in consumer psychology, where the perception of value influences spending decisions [2][3][4][5] - The humorous tone of the anecdotes serves to engage readers and encourage them to reflect on their own spending habits and experiences [5]

Core Insights - The rise of bread festivals in lower-tier cities reflects a growing trend among young consumers seeking upgraded food experiences, similar to those in first-tier cities [3][7][10] - The popularity of these festivals indicates a shift in consumer behavior, where high-end and trendy bread products are now embraced by a wider audience beyond major urban centers [5][19][24] Group 1: Bread Festival Trends - The first bread festival in Lianyungang was announced on November 2, with several other cities like Yancheng and Huai'an following suit, marking a new seasonal trend [3] - Bread festivals, once seen as exclusive to major cities, are now attracting significant crowds in smaller cities, with events in Jiangmen and Shenyang drawing tens of thousands of visitors and substantial sales [12][14] - The pricing of bread at these festivals in lower-tier cities is comparable to that in first-tier cities, with individual items typically priced between 10 to 40 yuan [10][19] Group 2: Consumer Behavior and Market Dynamics - Young consumers in smaller cities are increasingly interested in high-end bread products, leading to a convergence of tastes and preferences with those in larger cities [7][9] - The similarity in vendor offerings between first-tier and lower-tier cities suggests a homogenization of the market, with many brands and products appearing across different locations [9][10] - The expansion of trendy bread brands into smaller cities indicates a strategic move to tap into new markets, as seen with brands like HOT CRUSH [14][19] Group 3: Brand Competition and Market Challenges - Traditional bakery chains are facing challenges, with reports of closures and declining sales, contrasting with the success of new, trendy brands [26][28] - The new wave of bakeries focuses on niche products and unique offerings, often abandoning traditional models in favor of specialized, high-demand items [29][30] - The competitive landscape is characterized by a high turnover of brands, with social media playing a crucial role in driving consumer interest and brand visibility [38][41] Group 4: Cultural and Emotional Factors - The sensory experience of visiting a bakery, including the aroma and ambiance, contributes to the emotional appeal of these establishments, making them popular among consumers seeking comfort and happiness [41][43] - The phenomenon of bread festivals and trendy bakeries reflects a broader cultural shift where consumption is linked to personal identity and social status, particularly among younger demographics [51][52]

Core Viewpoint - The rise of bread festivals in lower-tier cities reflects a growing demand for trendy and high-quality baked goods among young consumers, indicating a shift in consumer behavior and market dynamics in the baking industry [5][7][43]. Group 1: Bread Festival Trends - The first city bread festival was held in Lianyungang on November 2, with several other cities like Yancheng and Huai'an following suit, making bread festivals a new favorite autumn and winter activity [5][6]. - Bread festivals, once considered exclusive to major cities, are now attracting significant crowds in smaller cities, with events in Jiangmen and Shenyang drawing nearly 100,000 and 51,400 visitors respectively, generating substantial sales [13][25]. - The product offerings at these festivals show a remarkable similarity to those in first-tier cities, with many brands and products sharing names and styles, indicating a homogenization of the baking market across different city tiers [9][10][12]. Group 2: Consumer Behavior and Market Dynamics - Young consumers in smaller cities are increasingly seeking "upgraded" bread options, leading to a convergence in tastes and preferences with their counterparts in larger cities [7][8]. - The pricing of baked goods at these festivals is comparable to that in major cities, with most items priced between 10 to 40 yuan, making them accessible to a broader audience [12]. - The popularity of trendy bread products has led to a perception of these items as seasonal or regional specialties, with social media amplifying their desirability [21][24]. Group 3: Brand Expansion and Competition - Many emerging baking brands are using bread festivals as a platform to test new markets and expand their reach, resulting in a proliferation of similar brands across different cities [17][43]. - Traditional bakery chains like 85°C are struggling with declining sales and store closures, highlighting the competitive pressure from new, trendy brands that focus on niche products and social media marketing [25][26][27]. - The baking industry is becoming increasingly fragmented, with a significant number of small brands emerging, as indicated by the report predicting 338,000 bakery stores by 2025, with a large proportion being small-scale operations [34][35].

Core Viewpoint - The article discusses the rising trend of bread festivals in smaller cities in China, highlighting a shift in consumer behavior where young people are increasingly seeking high-quality, trendy bread products that were once considered exclusive to larger metropolitan areas [3][10][21]. Group 1: Bread Festival Phenomenon - The first bread festival in Lianyungang was held on November 2, with several other cities like Yancheng and Huai'an following suit, indicating a growing popularity of such events in autumn and winter [5][19]. - Bread festivals, initially perceived as a big city phenomenon, are now attracting significant crowds in smaller cities, with events in Jiangmen and Shenyang drawing tens of thousands of visitors and generating substantial sales [19][21]. - The pricing of bread at these festivals in smaller cities is comparable to that in major cities, with individual items typically priced between 10 to 40 yuan, often around 20 yuan [16][21]. Group 2: Market Dynamics and Consumer Behavior - The article notes that the product offerings at bread festivals in smaller cities closely resemble those in larger cities, with similar brand names and product types, indicating a convergence in consumer tastes [12][26]. - The expansion of trendy bread brands into smaller cities is narrowing the gap between urban and rural consumer experiences, as brands like HOT CRUSH have begun to open locations in less populated areas [22][26]. - Social media plays a significant role in driving the popularity of these bread festivals, as consumers share their experiences and promote the unique offerings available [24][55]. Group 3: Changing Landscape of Bakeries - The article contrasts the success of new trendy bakeries with the struggles of traditional chain bakeries like 85°C, which have seen a decline in sales and have closed multiple locations [38][39]. - New bakeries focus on niche products and unique offerings, often abandoning the traditional model of offering a wide range of baked goods, which has allowed them to capture consumer interest [42][44]. - The rise of social media and the desire for experiential consumption have made bread festivals and trendy bakeries appealing to consumers seeking a sense of happiness and fulfillment through food [58][63]. Group 4: Consumer Aspirations in Smaller Cities - Young consumers in smaller cities are increasingly seeking high-quality, trendy food experiences, reflecting a desire to enjoy the same lifestyle and products available in larger cities [66][72]. - The influx of trendy bakeries into smaller cities is filling a gap left by traditional private bakeries, catering to the growing demand for diverse and high-quality baked goods [73][75]. - The article emphasizes that this trend is not just a commercial phenomenon but also a reflection of changing lifestyles and aspirations among consumers in smaller cities [75].

Core Insights - The Cheesecake Factory is set to report its third-quarter fiscal 2025 earnings on October 28, with projected EPS of $0.60 and revenue of approximately $913 million [1][2] Financial Performance - Analysts forecast a 3.5% increase in EPS from $0.58 reported in the same quarter last year, driven by strong demand, menu innovations, and efficient cost management [2] - The company has consistently outperformed earnings expectations, with an average surprise of 15.2% over the last four quarters [2][6] - In the most recent quarter, CAKE reported earnings of $1.16 per share, exceeding the Zacks Consensus Estimate of $1.06 per share, resulting in a 9.43% surprise [3] Market Valuation - CAKE's price-to-earnings (P/E) ratio is approximately 16.39, and the price-to-sales ratio is about 0.76, indicating a valuation of $0.76 for every dollar of sales [4] - The enterprise value to sales ratio stands at around 1.29, reflecting the company's total valuation in relation to its sales [4] Financial Health - The current ratio is approximately 0.20, indicating potential liquidity challenges for the company [5][6] - The debt-to-equity ratio is notably high at 5.24, suggesting a significant reliance on debt financing over equity [5][6]

Core Viewpoint - The article emphasizes the importance of transparency in the Chinese baking market and aims to connect upstream and downstream resources quickly, particularly focusing on OEM/ODM processing enterprises and their development strategies [1]. Company Overview - FulanSweet, based in Suzhou, is a leading player in the frozen cake industry, specializing in mousse products for 20 years and serving nearly 10,000 stores nationwide [10][13]. - The company has developed over 370 high-quality frozen mousse cake designs and has established three factories in Suzhou and Zhengzhou, equipped with multiple production lines certified by food safety management systems [16]. Product Offerings - FulanSweet offers a diverse range of products, including cheese cakes, mousse cakes, and chocolate cakes, available in various sizes (4-inch to 10-inch) to meet diverse customer needs [18]. - Notable product series include seasonal offerings, such as Valentine's Day and football-themed cakes, as well as a unique astronomical-themed series developed in collaboration with the Shanghai Planetarium [32][40]. Production Capacity and Certifications - The production facility has a daily capacity of 300,000 cakes and has achieved dual international certifications (BRC and IFS), reflecting the brand's commitment to quality and safety [44]. - The company is recognized for its innovative use of plant-based ingredients in its products, catering to the growing demand for vegan options [17][41]. Market Presence - FulanSweet's products are favored in various venues, including star-rated hotels, cafes, restaurants, and online delivery services, indicating a strong market presence across multiple sectors [51].

Core Viewpoint - The evolution of the baking industry has led to the emergence of numerous internet-famous (viral) products, characterized by extravagant ingredients and marketing strategies that create a sense of urgency among consumers [8][46][72]. Group 1: Historical Development - The baking industry began to gain prominence in mainland China in the 1980s, with simple offerings like honey cakes and small breads from family-run shops [11][12]. - The 1990s saw the rise of chain stores like Holiland, which introduced a wider variety of baked goods, although they lacked the unique appeal of viral products [14][15][16]. - The first notable viral brand, Uncle Che, opened in Shanghai in 2013, popularizing the cheese cake through fresh-baked sales and hunger marketing strategies [18][21]. Group 2: Viral Product Trends - The Garden Bakery's cheese bun became a viral sensation in 2015, driven by social media and celebrity endorsements, leading to a supply shortage and long queues [24][28]. - The "dirty bun" trend followed, characterized by its messy appearance and indulgent ingredients, appealing to consumers' desire for a satisfying experience [32][35]. - The success of Bao Shifu's meat floss cake, which gained popularity without celebrity endorsements, demonstrates the power of grassroots marketing and product innovation [37][39]. Group 3: Current Trends in Baking - The trend of "adding ingredients" has become prevalent, with products like croissants and macarons being filled with various flavors and textures to enhance appeal [46][49][55]. - The emergence of oversized products, such as the "cheese tart," captures consumer attention through visual impact and novelty [56][58]. - The integration of traditional Chinese ingredients into baked goods, such as mochi and purple rice, reflects a fusion of culinary cultures that resonates with modern consumers [60][64][65]. Group 4: Marketing and Consumer Engagement - The visual appeal of baked goods, enhanced by social media, plays a crucial role in attracting consumers, emphasizing the importance of color and presentation [72][73]. - Continuous innovation in ingredients, recipes, and design is essential for brands to differentiate themselves and maintain consumer interest [76][77].