Luzhou Laojiao 啃 啃 啃

Wen | Xu Yuanxuan

"History you can hear 124 years, history you can see 162 years, history you can taste 428 years, Guojiao 1573."

This classic advertising word stays in many 80s and 90s memories, and "the history that can taste" has changed from 428 to 449 years.

The 1573 Guojiao 1573, which is about to have a history of 450 years, is carrying the burden of weight, bringing Luzhou Laojiao (000568.SZ) to the third place to sprint into the third place of liquor.

But 21 years after the birth of this slogan, Luzhou Laojiao seems to be getting farther and farther from the first three positions of liquor: according to the financial report in the first quarter of 2022, Maotai (600519.SH) revenue is 32.2 billion yuan, Wuliangye (00085888 (000858) .Sz) revenue was 27.5 billion yuan, Yanghe (002304.SZ) revenue was 13 billion yuan, Shanxi Fenjiu (600809.SH) revenue was 10.5 billion yuan, and Luzhou Laojiao revenue was 6.3 billion yuan.

What kind of future was born in the Guojiao 1573, which was born at the turn of the century.

The symbol of strong fragrant liquor, differentiation with new concepts

On July 5th, Esquire, the Guojiao 1573, released the creative micro -movie "Ice Joys Hotel", which brought a new promotion and promotion to the new 12 ° C ice experience of Guojiao 1573.

This is another important marketing event for Guojiao 1573 to continue to exert its concept of "liquor and ice drink". Luzhou Laojiao opened another way on the way to build high -end liquor differentiation, and unexpectedly began to cultivate new drinking methods for traditional liquor.

In fact, the concept of "liquor and ice drink" has been launched for 14 years. In the past 14 years, the 7 national-level alcoholic masters of Luzhou Laojiao found that the original mellow fragrance of the Guojiao 1573 was reunited by repeated tests and tasting. At ° C, the molecular structure can reach the most harmonious state.

In recent years, Luzhou Laojiao has accelerated the creation of the concept of "liquor and ice drink". By planning various marketing events, trying to provide good help for Guojiao 1573 to quickly come out:

In 2018, "Ice Drinking Fengshang" was upgraded to "Ice Joys" and held an ice cellar bar pop -up shop in Sanlitun, Beijing;

In 2019, BingjoS invited Wang Qianyuan, Huang Jingyu, and Huang Jue to interpret "Mr. Bing Joys", and at the same time flashed the Bing drink Guojiao 1573 to a well -known bar in major cities;

In 2020, Bing Joys joined hands with musicians Zhang Yadong, architect Ma Yansong and artist Xu Zhen, staged the Guojiao 1573 Ice · Joys "Binghuo Way" art exhibition, opened the prelude to the "ice fire";

In 2021, Guojiao 1573 invited the brand's best friend Cui Jian to release the micro -film "The Way of Ice and Fire" and held the ice Joys pop -up store in 20 cities across the country;

In 2022, BingjoS returned to the origin of liquor and conducted in -depth excavation of the liquor drinking experience. In the future, a new round of flash will be opened in the core city of 1573 in 10 national cellars.

Judging from the display of a series of brand marketing activities in Luzhou Laojiao, Guojiao 1573 undoubtedly wants to create a younger consumer group to attract younger consumer groups.

High -frequency marketing activities also represent high advertising expenses. According to the financial report of Luzhou Laojiao in 2021, in 2021, Luzhou Laojiao advertising costs were 1.769 billion yuan, an increase of 34.37%year -on -year.

However, the concept of "liquor and ice drink" seems to be trendy, but can it really become very attractive to young people now?

First of all, the "ice drink" temperature of 12 ° C seems to be much higher as the "ice degree" we generally think. So, isn't this "ice drink" a pseudo -concept?

In response to the concept of "liquor and ice drink", Zhao Shumin, a well -known white wine expert, member of the National Baijiu Technology Standard Committee, and chief engineer of the Henan Wine Industry Association, said, "I am not opposed to drinking liquor as a business gimmick, but as a more scientific drinking liquor, it is more scientific. Method, not advocated. "

Another liquor expert, Cai Xuefei, also told the media, "Win -wine will make it weaker and more comfortable. In fact, ice and white wine is more likely to pass wine. It belongs to a concept of mixed cocktails. The difference in scenes is not as good as high and low. "

As for the taste of "liquor and ice drink", there is no uniform view within the industry, and it is more just a judgment of the personnel inside the internal personnel of Luzhou.

However, in actual drinking scenarios, how can we ensure such a temperature as consumers?

Secondly, Jiang Xiaobai, "The first bottle of white wine of young people", as an example, Jiang Xiaobai's hotness is not only because of creative bottle body copy, but also low -degree and irritating taste. Price positioning of consumption scope of young people. The unity of the three has led to the rapid growth of Jiang Xiaobai in the past ten years.

Instead, Xiaojiang Bai has begun to make a high wine market and wants to seize the wider consumer group.

The creation of the consumer scene can reflect the positioning of the brand's target group of its own products, and the Guojiao 1573, which has always positioned the "three major Chinese high -end liquor", is aimed at people who are not prominent for liquor consumption. Its marketing strategy is worth thinking about Essence

1573's production capacity bottleneck, it is difficult to support the "three dreams"

Fantastic marketing methods, the root cause, is still a stimulus to high sales.

Liu Miao, the current chairman of Luzhou Laojiao, took office in 2015. Liu Miao, who has become the leader, has taken "back to the Three" as the primary goal of Luzhou Laojiao since he took office. Three years later, Liu Miao continued in public that he would let Luzhou Laojiao return to the top three in the industry in 2020. In 2018 alone, Liu Miao made at least 7 similar speeches.

But what is the actual situation?

According to public data from various wine companies, in the first quarter of 2022, Luzhou Laojiao was the only wine company in the top five companies in the revenue of liquor. Shanxi Fenjiu's 10.53 billion yuan and Yanghe's 13.026 billion yuan.

In fact, the trend of the decline in the status of Luzhou Laojiao industry does not start from this year. Looking back at the liquor industry in 2021, the top five are Maotai 132.624 billion yuan, Wuliangye 66.209 billion yuan, Yanghe 23.55 billion yuan, Luzhou Laojiao 20.642 billion yuan, and 19.971 billion yuan in Fenjiu.

Luzhou Laojiao was not only captured by Yanghe, but the gap with the fifth Fenjiu was reduced to 671 million yuan. Judging from the first quarter of 2022, Fenjiu successfully surpassed Luzhou Laojiao for 10.53 billion yuan.

The originator of the strong white wine, the industry boss that could not be shaken in the 1980s, fell to the fifth place. As a native of Luzhou, Liu Miao was of course anxious.

Don't forget, in this small city of Bashu, which is known for its "wine culture", is also the rise of the city's "little brother" Lang Jiu. At the press conference of the "Langjiu Sauce Product Enterprise Enterprise Enterprise", Wang Junlin, chairman of Langjiu Group, revealed at the meeting that in 2021, Langjiu's sales repayment exceeded 15 billion yuan.

Faced with the severe situation of chasing troops before, the burden of Guojiao 1573 seemed heavier.

However, if you want to regain the third place in the industry, you cannot rely on the empty slogan. Whether the production capacity of Guojiao 1573 can keep up with the sales rhythm is the key.

According to the company's financial report in 2021, Luzhou Laojiao has 1619 cellar pools of more than 100 years. In 2021, the output of mid -to -high -end alcoholics was 48662.9 tons, sales were 31765.82 tons, and inventory was 39177.05 tons. The output increased by 100.13%year -on -year, and sales increased by 25.42%year -on -year increased by 25.42%year -on -year increased by 25.42%year -on -year increased by 25.42%year -on -year. The inventory increased by 75.84%year -on -year.

What is the production capacity of Guojiao 1573 in the high -yield mid -to -high -end wine?

In the "2002 Dating Instructions", Luzhou Laojiao has the following description: "The company mainly operates the production and sales of Luzhou Laojiao series of wine. Sanjiu storage capacity and 70,000 tons/year liquor packaging capacity ".

Regarding Guojiao 1573, the expression in the same document is: "The company first produced 43,000 tons of Laojiao special song, head song, two song series wines, and 1,000 tons of Guojiao 1573 and century -old cellar."

In another document, in the "Instructions for the first phase of the mid -term bill of 2015 in Luzhou Laojiao Group Co., Ltd.", the production capacity of Guojiao 1573 has a new statement: "2013, the company's liquor production capacity (finished wine) It is 262,400 tons, the output (finished wine) is 178,600 tons, and the capacity utilization rate is 68.06%. Because the company's high -end liquor "Guojiao 1573" can only be produced in more than a hundred years, the current wine of "Guojiao 1573" liquor is The production capacity is about 3,000 tons/year. The production capacity of high -end liquor pools has a certain impact on the company's future expansion of sales, and there is a certain risk of production capacity insufficient. "

The production capacity of the flagship product Guojiao 1573, combined with the previous relevant information released by Luzhou Laojiao and the calculation of peers and media, the capacity of 3,000 tons of base wine is a more reasonable value.

Want to do everything to break through the 1573 capacity ceiling of Guojiao 1573

Guojiao 1573, which is 3,000 tons of base wine production capacity, obviously cannot meet Liu Miao's previous sales target of 20 billion in 2020. According to the 2021 annual report, a total of 18.4 billion yuan in the mid -to -high -end alcoholic revenue of Luzhou Laojiao revenue. As for how much data contributed by Guojiao 1573, it is conceivable.

In the liquor industry, there is a saying, "The fragrance is limited to time, and the sauce is limited to space." Therefore, for the strong flavor of Guojiao 1573, the importance of the number of century cellar pools is self -evident.

Therefore, the most important means to improve the capacity of Guojiao 1573 is to find a way to expand the number of cellar pools.

However, Luzhou Laojiao seemed to overcome his own pace on the expansion of the century cellar pond.

First of all, Guojiao 1573 was under the beginning of the marketing slogan of "a century -old cellar pool circulating to this day". According to the information of Luzhou Laojiao's own public cellar, there are 4 people in the real Ming Dynasty cellar.

So is there a new way to break through the capacity of the capacity?

Have. Earlier, there was news that the news broke out of Luzhou Laojiao self -study.

On October 9, 2020, the Luzhou Laojiao Original Wine Review Society was held in Beijing. At the comments, experts blindly evaluated the texture and flavor characteristics of the original wines such as intelligent brewed raw wines in 2019 and 2020, and more than 30 years old cellar brewed wine -like wine.

Experts believe that the original wine cellar fragrance, grain, comfortable aroma, sweet and rich wine, and coordination based on the cellar duplicate technology, the taste and flavor characteristics of the cellar have reached the cellar of more than 30 years older in the cellar age. The quality level of the original wine made from the pool. In other words, Luzhou Laojiao began to try to "cooked" the wine cellar through the "Cellar Mud Re -engraving" technology.

Netizens' evaluation of the technology of "Cellar Mud Re -engraving" in Luzhou Laojiao is "the old maturity of wine needs to be domesticated by time, not accelerated through technology."

As the "principalists" of liquor, they will definitely feel dissatisfied with the "technology route" in Luzhou Laojiao. However, in order to achieve the previous goals, it is not necessary to "quick work"?

What can really provide production capacity for Guojiao 1573 is still continuously implemented.

On July 14, Luzhou Laojiao announced that it was planned to invest in the implementation of Luzhou Laojiao intelligent brewing technical reform project (Phase I). The total investment of the project is about 4.783 billion yuan.

Accelerate the cultivation of the new cellar pond, and put new production capacity into the production of low -end products, so as to replace the cellar pools that previously produced low -end products, in order to put it into the production of Guojiao 1573.

However, the replaced cellar pond must not be a century -old cellar pond, which will bring brand damage to the Guojiao 1573 product.

The brand story of Guojiao 1573 seems to have been talked about, and the concept of "liquor ice drink" has not really achieved a circle, and its own production capacity cannot support the ambition to the future.

Will Guojiao 1573 gradually lose into the long river of time?

Reference

For weak growth poles, can Guojiao 1573 break through by "ice and white wine"? -S Securities Star

Shouting white wine and ice drink, what happened, what happened to Luzhou Laojiao? -The serious society

Guojiao 1573 "Ice Drink" controversy: scientific argumentation or business gimmick? -Jiu Ji Zhi

Luzhou Laojiao: Guojiao 1573 Basic wine production capacity-Joe 1st.

Academicians and experts gathered, and Luzhou Laojiao original wine evaluation meeting was successfully held-China Fortune Network

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