政府新闻
美国面包房LadyM在离开中国两年之后回到中国 2024-12-05
US Baker Lady M returns to China after two-year absence
Lady M has opened its first store in China after the US luxury confections brand exited the Chinese market in 2022.
Lady M's first directly operated store in China opened at Shanghai's Grand Gateway 66 shopping mall on Nov. 28, the New York-based company announced on Instagram the day after.
The new Shanghai outlet includes Lady M's signature blue and white decor, featuring the French dessert Mille Crêpes as the main product. New flavors are also available, with the price of some products increasing to CNY78 from CNY75 (USD10.70 from USD10.30) a slice.
There were many customers during the opening weekend, but not as many as when Lady M first entered Shanghai in 2017, staff at the new store told Yicai.
Lady M opened its first Chinese mainland boutique in Shanghai in September 2017, with customers queueing for up to six hours and scalpers charging hundreds of Chinese yuan, equivalent to tens of US dollars, extra per cake slice.
But five years later, Shanghai Muxin Catering Management, the exclusive operator of Lady M in the Chinese mainland, said the bakery had asked all mainland stores to close by Sept. 10, 2022. In addition, a source close to the company told Yicai that it may start running its local stores.
As the Chinese consumer market matures, direct management of retail channels gives brands better control over their image, product quality, and customer service, a brand positioning consultant said to Yicai. However, high rent and operational costs may put pressure on Lady M's profitability, the person pointed out.
Price hikes might deter some consumers, the consultant noted, adding that after closing the previously franchised stores, Lady M needs to rebuild people's trust and attract new customers.
Upon returning to the Chinese market, Lady M faces significant competition, with 9 other dessert and bakery stores just in Grand Gateway 66.
Most consumers spend between CNY20 and CNY40 (USD2.75 and USD5.50) per purchase of baked goods, according to iiMedia Research. Trendy bakeries generally set higher prices and expand their influence through social media, but consumers are unlikely to buy frequently, resulting in short-lived popularity.
Several high-end bakery brands have exited the Chinese market in recent years. Japan's LeTAO opened its first store in Shanghai in 2018, seeing queues of eager customers, but has since left the city. French pastry brand Lenôtre also recently closed its Shenzhen boutique, having already left Shanghai in August 2022.
Source: Yicai Global
