#頭豹洞見
●近年來，年輕群體的消費習慣正在悄然改變酒吧餐飲行業。以海倫司為代表的新型酒吧，目標消費群體是18至28歲的年輕人，海倫司也是連鎖酒吧行業第一家上市公司，被譽為“小酒館第一股”。
●海倫司上市將會為行業帶來哪些變革？未來，海倫司的發展又將何去何從？頭豹研究院分析師劉頎接受China Daily采訪，為您分析“啤酒繁榮”下的行業趨勢。
China Daily
Young consumers socialize in the"happy atmosphere"of a beer bar of Helens International Holdings Co Ltd in Chengdu,Sichuan province,in December.[Provided to China Daily]
12月份，年輕的消費者在四川省成都市海倫斯酒吧中盡情地玩遊戲，沉浸在歡樂中。[中國日報]
Bottoms-up youth social scene bolstering barley beverage biz
年輕人“一飲而盡”的社交文化正促使啤酒生意蓬勃發展
Helens International Holdings Co Ltd,China's largest bar chain and the first such listed company,has developed from small bistros and social networking places for college students and young office workers.
海倫司國際控股有限公司經營著中國最大酒吧連鎖店，也是連鎖酒吧行業第一家上市公司，它從針對大學生和年輕上班族的小酒館、社交場所發展起來，被譽為“小酒館第一股”。
For many college students,Helens is the place to go at night,with multiple beer varieties on tap.Most brands such as Corona,Budweiser and its own Helens label brews carry price tags under 10 yuan($1.55)per bottle,which is quite affordable for students.The same kind of Budweiser in 330 milliliter bottles is usually sold for 15 yuan to 30 yuan in supermarkets and convenience stores,according to market research provider LeadLeo Research Institute.
對於眾多大學生來說，海倫司是晚上去的地方，供應多種啤酒。大多數品牌如科羅納，百威和旗下的海倫司精釀啤酒，標價均低於10元（1.55美元）每瓶，對於學生群體十分優惠。
據頭豹研究院數據，330毫升瓶裝的百威啤酒通常在超市和便利店售價在15元至30元間。海倫司目前在中國大陸100多個城市經營著527家酒吧。9月10日，海倫司在香港聯交所上市，公司在一份監管文件中表示，最初計劃從首次公開發行（IPO）中籌集25.1億港元（合3.2億美元）。首個交易日，其市值高達300億港元。
Helens said it is targeting consumers aged between 18 and 28.A large number of young consumers in this age group don't have enough money to go to high-end bars and order alcohol with high unit prices,so Helens has become their primary choice.
海倫司表示，它的目標消費群體是18至28歲的年輕人，這個年齡段的消費者大部分沒有足夠的能力在高端酒吧進行消費，所以海倫司成了他們的主要選擇。
"In the early days,the bar sector in China was mixed with good ones and bad ones,and we have kind of disrupted the market by launching a bar chain with standard products and services.A lot of customers stop by our bars based on peer recommendations.We hope to serve as a social venue that creates memories for young consumers,"said Zhang Bo,senior vice-president of Helens.
"在早期，中國的酒吧業發展良莠不齊、yulonghunza，womendapolezheyixianxiang，tuichuleyijiayongyoubiaozhunchanpinhefuwudejiubaliansuodian。henduokehudouhuiyinweipengyoudetuijianlaidaohailunsixiaojiuguan。womenxiwangchengweiweinianqingxiaofeizhechuangzaohuiyideshejiaochangsuo，"海倫司高級副總裁張波說。
"What we provide is not merely alcohol,but it's more about a happy atmosphere and experience as consumers can purchase similar alcoholic products at supermarkets.We hope to build a big brand with small front-end operations.We insist on operating the brand with direct ownership and not via franchise,"Zhang said.
"Like in many overseas markets,going to pubs has become part of a lifestyle for many local consumers.Earlier in China,not many people drank coffee.Now,coffee has become quite prevalent in the country,and we would like to expand our bars just like Starbucks."
"womentigongdebujinjinshijiujing，gengduodeshikuailedeqifenhetiyan，yinweixiaofeizhezaichaoshijiukeyigoumaileisidejiujingchanpin。womenxiwangdazaoyigeqianduanyunyingguimojiaoxiaodedapinpai。womenjianchiyizhijiesuoyouquanerbushitexujingyingjingyingpinpai，"張波還表示道。"和he海hai外wai市shi場chang一yi樣yang，酒jiu吧ba已yi經jing成cheng為wei許xu多duo當dang地di消xiao費fei者zhe生sheng活huo方fang式shi的de一yi部bu分fen。例li如ru早zao期qi，中zhong國guo喝he咖ka啡fei的de人ren並bing不bu多duo，而er現xian在zai咖ka啡fei在zai全quan國guo已yi經jing相xiang當dang流liu行xing，我wo們men想xiang像xiang星xing巴ba克ke一yi樣yang擴kuo大da我wo們men的de酒jiu吧ba。”
In March,Helens received$33 million in combined investment from China International Capital Corp Ltd and BA Capital－a consumer-focused fund in China.
From 2018 to 2020,Helens'bars nationwide expanded from 162 to 351.In 2018,its sales revenue reached 115 million yuan,and last year,it achieved sales of 818 million yuan.The compound annual growth rate was 166.9 percent over the period,according to its prospectus.
今年3月，海倫司從中國國際資本有限公司和BA Capital（一家專注於消費賽道的基金）獲得了3,300萬美元的總投資。從2018年到2020年，海倫司旗下經營的酒吧數量從162家擴大到351家。2018年銷售收入達到1.15億元，2020年實現銷售收入8.18億元。根據海倫司招股說明書，2018–2020年間複合年增長率為166.9%。
In Wuhan,capital of Hubei province,Helens has 65 bars,the highest number of all urban markets.The company aims to bring the number of its bars in the city to about 80 by the year-end.
In Changsha,Hunan province,Helens operates some 45 bars.In an area of 8.3 square kilometers around the famous traditional food court Pozi Street,Helens has opened more than 10 bars.
在湖北省省會武漢，海倫司有65家酒吧，是所有城市市場中數量最多的。該公司的目標是到今年年底，在武漢的酒吧數量達到80家左右；在湖南省長沙市，海倫司經營著大約45家酒吧。海倫司在著名的傳統美食廣場波茲街周圍8.3平方公裏的區域內，已經開設了10多家酒吧。
From 2018 to 2020,the market scale of Helens remained the largest in China.It plans to expand the total number of bars nationwide to about 1,000 next year and to around 2,200 by 2023.Most new bars are expected to be launched in second and third-tier cities,and Helens will continue to offer the most competitive prices possible.
從2018年到2020年，海倫司都是中國規模最大的酒吧品牌，並計劃明年將全國酒吧總數擴大到1000家左右，於2023年增加到2,200家左右。大多數新酒吧將落戶在二、三線城市，海倫司也將繼續提供最具競爭力的價格。
"We will not worry about possible dilution from opening too many bars as we see growing demand from young consumers and significant growth potential of the bar business in China,"Zhang said.
By the end of 2020,China had about 35,000 bistros,or small-scale mass-market bars.Some 95 percent of them were independently operated.In terms of revenue,the combined market share of the top five bar operators in China makes up about 2.2 percent of the total,according to LeadLeo.
By the end of last year,China had about 300 million people aged between 20 and 34,accounting for 21.2 percent of the total population,according to the National Bureau of Statistics.
"我們不會擔心開太多酒吧可能會稀釋盈利，因為我們看到年輕消費者的需求不斷增長，中國酒吧業務增長潛力巨大，"張說。到2020年底，中國擁有約35,000家小型酒吧，即小型大眾市場酒吧，其中約95%是獨立經營的。而在收入方麵，根據頭豹研究院數據，中國五大酒吧運營商的總市場份額約占總市場份額的2.2%。據中國國家統計局數據，截至去年底，中國20至34歲的人口約有3億，占總人口的21.2%。
頭豹研究院分析師劉頎
"Helens aims to target young consumers and achieve high turnover with thin profit margins.It has attracted a large number of young consumers thanks to cheap beer,as the group has a certain demand for socializing over drinks,"said Liu Qi,an analyst of LeadLeo.
"Most of its bars are located in smaller cities.Avoiding fierce competition in first-tier cities is also one of the strategies that Helens managed to achieve growth.Whether or not it can stay competitive in the future remains to be seen,as more industry players are entering the sector,"Liu said.
Besides Helens,China has a number of large-scale bar chains,with each of them operating more than 50 outlets nationwide.They include Perry's,music restaurant and bar Hutaoli,and Chengdu Erma Catering and Entertainment Co Ltd,according to LeadLeo.
"海倫司的目標是瞄準年輕消費者，通過“薄利多銷”的方式獲得增長。由於廉價啤酒吸引了大量年輕消費者，他們對於社交的需求遠高於酒精本身，"頭豹研究院分析師劉頎表示，"海倫司小酒館大多位於二、三san線xian城cheng市shi，這zhe能neng夠gou避bi免mian一yi線xian城cheng市shi的de激ji烈lie競jing爭zheng，也ye是shi海hai倫lun司si實shi現xian增zeng長chang的de戰zhan略lve之zhi一yi。隨sui著zhe越yue來lai越yue多duo的de行xing業ye參can與yu者zhe進jin入ru該gai行xing業ye，海hai倫lun司si能neng否fou在zai未wei來lai持chi續xu保bao持chi競jing爭zheng力li還hai有you待dai觀guan察cha。”
除海倫司外，中國還有一些大型酒吧連鎖店，每家都在全國經營著50多家分店。頭豹研究院表示，這些品牌中包括Perry’s和胡桃裏音樂酒吧，以及成都愛爾瑪餐飲娛樂有限公司。
Consumers enjoy themselves at a bar of Helens in Xi'an,Shaanxi province,in July.[Provided to China Daily]
7月份，消費者在陝西省西安市的一家海倫斯酒吧盡情享受。[中國日報]
In 2009,Helens opened its first bar in Beijing's Wudaokou area,and it quickly attracted a large number of foreign students and backpackers in China,with its relaxed atmosphere and cheap beers.
Initially,it provided various foods such as pizza,pasta and nonalcoholic beverages.Later,Helens simplified its menus to the most basic products,which made it easier for the company to manage supply chains and launch more bars.
2009年(nian)，海(hai)倫(lun)司(si)在(zai)北(bei)京(jing)五(wu)道(dao)口(kou)地(di)區(qu)開(kai)設(she)了(le)第(di)一(yi)家(jia)酒(jiu)吧(ba)，以(yi)其(qi)輕(qing)鬆(song)的(de)氛(fen)圍(wei)和(he)廉(lian)價(jia)的(de)啤(pi)酒(jiu)迅(xun)速(su)吸(xi)引(yin)了(le)大(da)批(pi)外(wai)國(guo)學(xue)生(sheng)和(he)背(bei)包(bao)客(ke)。最(zui)初(chu)，海(hai)倫(lun)司(si)還(hai)提(ti)供(gong)各(ge)種(zhong)食(shi)物(wu)，如(ru)比(bi)薩(sa)餅(bing)，意(yi)大(da)利(li)麵(mian)和(he)非(fei)酒(jiu)精(jing)飲(yin)料(liao)。後(hou)來(lai)，海(hai)倫(lun)司(si)將(jiang)其(qi)菜(cai)單(dan)簡(jian)化(hua)為(wei)最(zui)基(ji)本(ben)的(de)產(chan)品(pin)，極(ji)大(da)地(di)便(bian)利(li)了(le)公(gong)司(si)的(de)供(gong)應(ying)鏈(lian)管(guan)理(li)與(yu)規(gui)模(mo)擴(kuo)張(zhang)。
To cater to a growing demand for online shopping,Helens has expanded its business.It has launched stores on e-commerce platforms such as JD,Tmall,Taobao and also on WeChat.The company said its online business is still in an initial stage of development,and online sales mostly satisfy demand of consumers who frequent bars.
同時，為了滿足消費者日益增長的網上購物需求，海倫司還在京東、天貓、淘(tao)寶(bao)等(deng)電(dian)商(shang)平(ping)台(tai)上(shang)開(kai)設(she)了(le)專(zhuan)賣(mai)店(dian)，並(bing)在(zai)微(wei)信(xin)上(shang)開(kai)設(she)了(le)專(zhuan)賣(mai)店(dian)。公(gong)司(si)表(biao)示(shi)，其(qi)線(xian)上(shang)業(ye)務(wu)仍(reng)處(chu)於(yu)初(chu)期(qi)發(fa)展(zhan)階(jie)段(duan)，線(xian)上(shang)銷(xiao)售(shou)主(zhu)要(yao)為(wei)了(le)滿(man)足(zu)經(jing)常(chang)光(guang)顧(gu)酒(jiu)吧(ba)的(de)消(xiao)費(fei)者(zhe)的(de)需(xu)求(qiu)。
It is also in discussions with some barbecue retailers and is considering introducing such offerings in more than 20 of its bars.The bar chain also allows customers to bring their own food as it hopes to create a cheerful and lighthearted atmosphere.
不僅如此，海倫司還在同一些燒烤零售商接洽中，考慮在其20多家酒吧推出燒烤服務。海倫司希望通過允許顧客自帶食物，營造更為歡快輕鬆的氛圍。
Last year,despite the impact of the COVID-19 pandemic,Helens managed to make a profit.It tends to rent stores that are located in major business districts,but at less prominent locations such as second floors of buildings.Thus,rents tend to be much cheaper than other more prominent locations.
qunian，jinguanshoudaoxinguanyiqingdeyingxiang，hailunsihaishiqudelekeguandelirun。yinweihailunsitongchangzuyongweiyubutaituchudeweizhideshangpu，rugeleixieziloudeerceng。yinci，zujinwangwangbiqitagengxianyandedifangbianyideduo。
Despite the operational pressure due to the pandemic,in May 2020,Helens offered a pay rise for its staff members.In May this year,the company raised employee pay again.It also has an incentive plan to give shares to its employees.
雖然疫情帶來了業務壓力，但2020年5月，海倫司還是為員工提升了薪酬待遇。今年5月，公司再次提高員工工資，同時公司還製定了一項股權激勵計劃。
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