Jul.2024 18
Views: 114

Guo Circle reaches strategic cooperation with Little Bench Neighborhood Hot Pot and other brands

Introduction
On July 17, 2024, the 2nd China Hotpot Leader Summit was held in Zhengzhou, Henan Province, and Yang Mingchao, Chairman of Wok Circle Food (Shanghai) Company Limited (hereinafter referred to as Wok Circle), was invited to participate in the meeting and delivered a keynote speech.
Details
Yang Mingchao said that the current catering retail industry is undergoing structural adjustment, quality productivity to the head of the enterprise to close, the middle waist of the enterprise and small catering brands of the chain path has become more difficult. In this context, catering retailers should also make structural adjustments. By focusing on niche areas in a “narrow, small, deep and heavy” mode, a large number of niche category champions can still emerge.

At the event, Wok Circle Investment Management held a strategic cooperation signing ceremony with four F&B retail brands, namely Little Bench Neighborhood Hotpot, Wai Spicy Little Hotpot, Zheng Xiwang BBQ, and Wu Xuechang's freshly grilled skewers and sandwiches. In the future, Wok Circle will provide strategic support to the above brands at various levels, including capital, supply chain and digital platform.

Yang Mingchao said at the signing ceremony that Wok Circle will focus on building an “open Wok Circle”, exporting the existing commercial capabilities of Wok Circle in the form of an open platform, and supporting more small and medium-sized food and beverage retail brands to grow.

Relevant initiatives include: first, opening up the industrial supply chain of the Circle to help small and medium-sized restaurants grow rapidly into category champions; second, outputting the Circle's 10,000-store chain methodology to help more national champion brands realize 10,000 stores; third, the Circle is firmly optimistic about the to-door and to-home catering retailing, and will help retail catering brands to grow by means of investment and incubation; fourth, outputting the Circle's two major catering infrastructure, the Digital Warehouse and SAAS platform, to continuously improve the efficiency of the industry; and fifth, outputting the Circle's digital warehouse and SAAS platform, to continuously improve the efficiency of the industry. The company's digital warehouse and SAAS platform are two major catering infrastructures that will continue to enhance the efficiency of the industry.

Yang Mingchao said that China's huge catering consumer market has the potential to accommodate about 150 chain brands of 10,000 stores, and now there are less than 10 chain brands of 10,000 stores, and China's food and beverage retail chain is still promising. Wok Circle will continue to practice the corporate value of “altruism” and contribute to the healthy and stable development of the domestic catering retail industry.
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