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The Ice and Fire of the Snack Track: Store Closures and Financing Surge in Parallel, the 'Hot War' in Lower-Tier Markets Has Begun
In the first half of 2023, the snack track showed a stark contrast of ice and fire, with store closures and financing waves occurring simultaneously. On one hand, Zhejiang-based snack discount chain Laoban Daren was rumored to be closing, and the once high-flying brand a1 Snack Research Institute shut down 80% of its stores. On the other hand, the track remained hot: investment and financing activities increased compared to the same period last year, and lower-tier markets saw a wave of snack brand store openings, with regional leaders like Snacks Busy and Zhao Yiming Snacks accelerating expansion. This cold-hot dynamic reflects the industry's adjustment and response to external changes.
向真Six Reductions in Two Years: What's Wrong with Bestore?
Bestore has been reduced again. Recently, Bestore was significantly reduced by Capital Today, an early institutional investor that had accompanied it for over a decade, pushing the snack giant into the spotlight. Besides Capital Today, Hillhouse Capital has also made multiple clearance reductions over the past two years. Frequent selling by investors has raised concerns about Bestore's growth prospects. Indeed, apart from investors leaving, Bestore's performance has not improved for years. According to financial reports, Bestore's revenue in 2022 was 9.44 billion yuan, a year-on-year increase of 1.24%.
向真