On January 29, the blue whale financial reporter learned that the first overseas store of the high-end hot pot brand of Xiabu group will appear in Singapore at the end of this month. So far, the store has been in trial operation for two weeks.
It is understood that this time, the first store in Singapore has carried out localization improvement on the basis of continuing the Chinese model in terms of store visual design and dishes. This has also gained the recognition of local consumers. Xiabu group revealed that due to the impact of the epidemic, although only 70% of the locations of the Singapore store were opened during the trial operation, the reservation rate exceeded 60% every day. There were nearly 100 number takers at the peak. The consumer groups were mainly local residents, overseas students and foreigners, with a per capita consumption of S $70 (about RMB 328).
Industry insiders pointed out that the trip to the sea also means that the strategy of Xiabu group’s international catering market has been officially implemented.
Why go to the international catering market?
According to the statistics of the world Chinese food Federation, there are about 600000 overseas Chinese restaurants, but they mainly focus on traditional Chinese snacks and most of them are family workshops. “Taking Guangdong cuisine as an example, Guangdong cuisine is the earliest category of Chinese catering going out, but the degree of standardization and chain is low, so it lacks the opportunity to become bigger and stronger.” He Guangqi, founder and chairman of Xiabu group, said that after years of development, Chinese catering brands are very mature in terms of standardization, supply chain and food safety, and have the conditions to enter the international catering market.
“Or affected by the epidemic, the catering industry has experienced a reshuffle. At this time, going to the international market is to seize the opportunity of the post epidemic era; after the epidemic, enterprises that practice their internal skills will usher in spring.” He Guangqi said that Southeast Asia is the first stop of Xiabu group in the international market. From operation and management to dish characteristics, it will not only maintain the company’s core competitiveness, but also make “localization” improvement according to local conditions and local culture.
According to Xiabu group, in the next five years, the group plans to set up 50 stores in Singapore, including Xiabu, Xiabu, Cuo, chami tea, Xiabu X and other brands. In addition, the Malaysia project of Xiabu group has also been officially launched, and the first store in Malaysia will be unveiled at the end of the year.
At the same time, focusing on the Southeast Asian market, Xiabu group will lay out relevant industrial chains such as central kitchen overseas in the next two years. The industrial chain will not only supply the foreign market, but also become the overseas central kitchen of the Chinese market. At that time, the supply chains outside China will connect with each other, feed and help each other.
According to official data, chuokuo hot pot is a high-end hot pot brand launched by Xiabu group in 2016. At present, it has nearly 200 direct stores, with an annual revenue of more than 2 billion yuan. In 2022, Xiabu group will continue to expand steadily. It will not only go to sea to seize the international catering market, but also set up a Beijing Shanghai dual management headquarters to launch the expansion strategy of “expanding East and moving south”. It is worth noting that Xiabu group will launch Xiabu x, a medium and high-end hot pot brand, in 2022. At that time, Xiabu, Xiabu X and Cuocuo will cover the middle-end, medium and high-end catering hot pot consumption segments.
