The trademark problem of Green Tea Restaurant to be listed in Hong Kong needs to be solved urgently
Report from our correspondent (reporter Liu Shenliang) recently, green tea restaurant to the Hong Kong Stock Exchange submitted prospectus, ready to be listed in Hong Kong. This is also Jihaidilao, ninety-nine cents after another to the capital market catering enterprises.
According to the prospectus, the revenue of Green Tea Restaurant in 2018, 2019 and 2020 is 1.311 billion yuan, 1.736 billion yuan and 1.569 billion yuan respectively; The annual profit was 44.4 million yuan, 106 million yuan and -55.26 million yuan respectively.
Green tea restaurant as a typical representative of the domestic public catering, with appropriate prices, innovative ingredients captured a number of young consumer groups. The first green tea restaurant opened near West Lake in 2008 and has since expanded. By the end of 2018, it had a total of 107 restaurants in operation, which has now grown to 185. Green Tea Restaurant plans to open around 60 new restaurants in 2021 and 80-100 restaurants annually in 2022 and 2023, according to the prospectus.
According to public information, with the addition of many restaurant brands to the market, the casual Chinese food market is also highly dispersed. In 2020, the five major brands account for about 3.8% of the total revenue of the casual Chinese catering market. Green tea brand restaurants, with a total revenue of 1.6 billion yuan, occupy 0.5% market share in China’s casual Chinese food market, ranking fourth. Store expansion is an important factor for Green Tea Restaurant to gain market share. Along with the growth of store size, the unit price of customers increased from 54.8 yuan in 2018 to 61.3 yuan by the end of 2020. However, the channel flip rate declined for three consecutive years, from 3.48 times per day in 2018 to 2.62 times per day in 2020.
It’s worth noting that “green tea” isn’t exclusive to green tea restaurants just yet.
In September 2020, Hangzhou Green Tea Catering Management Co., Ltd. held a press conference to announce that it would file a lawsuit against more than 30 “fake” green tea restaurants and restaurant venue providers across the country. It is reported that “Shanzhai” green tea restaurant in addition to the decoration style, menu style, staff clothing and other aspects completely copy Hangzhou green tea, some regional “Shanzhai” restaurants also borrow the name of Hangzhou green tea to join the investment, charging a high franchise fee. The reason why the copycat restaurant can take advantage of the opportunity, mainly because Green Tea Restaurant trademark applications have failed for many times. Despite the filing of the prospectus to the Hong Kong stock exchange, the trademark issue remains a pressing issue for Green Tea Restaurant, according to market analysts.