A few days ago, according to “Chinese entrepreneur”, Mo Mo dim sum Bureau carried out a round of organizational structure adjustment before the Spring Festival. It will change from focusing on brand building to focusing on operation, and eliminate up to 40% of brand employees. In addition, the company’s financial and personnel departments have also undergone personnel changes.
Interface venture capital found that while the brand laid off staff, Mo Mo dim sum bureau also released recruitment information. In February 19th, Mo Mo dim sum Bureau released its recruitment information in its official WeChat tiktok, and recruited 200 people in four places in Beijing, Wuhan, Changsha and Hangzhou, including 3 brands, 1 trainees, 2 interns, 4 supply chain centers, 34 operational departments, and the front and rear 152 of Beijing and Wuhan stores.
Last year, when the consumption track was hot, Mo Mo dim sum Bureau was very optimistic, and even a number of VC companies failed to invest. Since its establishment in 2020, Momo dim sum Bureau has been easy to finance. Qingliu capital has been invested in less than half a year since its opening. At the beginning of the day, the capital was invested. Not long after that, Xu Xin of today’s capital also invested, and its latest round of financing came from meituan Longzhu.
In the early days, Wang Yuxiao, founder of Mo Mo dim sum Bureau, did not rush to exchange capital for flow, and did not intend to expand across the country on a large scale. He established himself in Changsha base camp and deeply cultivated the supply chain.
On September 2, 2021, after receiving the exclusive investment from meituan Longzhu, Momo dim sum Bureau pursued rapid expansion. Wang Yuxiao announced that the financing will be used for store expansion, talent echelon system construction, brand and marketing investment. That month, Wang Yuxiao said in an interview with the media, “I don’t do it now, the market is someone else’s”.
The change of mentality may come from the opponent. Hutou bureau is also from Changsha. The two products are similar and are also favored by capital. When Hutou bureau had only four stores, it obtained the investment of Sequoia and challenger. In November 2021, Hutou Bureau opened its first store in Beijing Wukesong Huaxi live. One month later, on December 18, the first store of Momo dim sum Bureau in Beijing officially opened in Xidan Grandjoy Holdings Group Co.Ltd(000031) . The peak queuing time on the opening day was 7.5 hours, and the daily sales exceeded 10W + for two consecutive days.
After opening its first store in Beijing, Momo dim sum Bureau said it would open another new store in Beijing and planned to open a total of 9 stores. However, so far, Momo dim sum Bureau has only 6 stores, including Xidan Grandjoy Holdings Group Co.Ltd(000031) , Chaoyang Grandjoy Holdings Group Co.Ltd(000031) , heshenghui, Fengtai Dayue chunfengli, Raffles and Shanghai New World Co.Ltd(600628) . From the comments of public comments, Xidan Grandjoy Holdings Group Co.Ltd(000031) store is the most popular. Other stores queue up occasionally but are not popular. It can not be ruled out that this layoff is a strategic adjustment because the data did not meet expectations.
The transformation of Mo Mo dim sum Bureau into operation centered is a return. One of the most important reasons for Mo Ping’s high monthly net profit is that Mo Ping’s dim sum stores are favored by even tens of millions of square meters. On August 1, 2020, the first store of Mo Mo dim sum Bureau opened in Changsha Wuyi Square, which is the largest business district in Changsha. When opening the first store, founder Wang Yuxiao wanted to make tea + snacks. He soon found that this was not feasible. The store was small, the operation space was limited, and the employees were easy to interfere with each other. It was difficult to give consideration to the baked cassava and ready-made tea, so he quickly withdrew the tea.
Once Wang Yuxiao took the honey snow ice city as his learning goal, which is cheap, low gross profit and enough grounding gas. She believes that the unit price of Momo dessert bureau is lower, and the wife cake, purple potato, hemp potato and crispy puff are only 3-5 yuan, which is more conducive to sinking to the county and city. Therefore, she thinks: “assuming that the head milk tea brand can make 2000 stores, we can make 5000 or even tens of thousands.”
