Original title: superstar buck at the end of the year! Ruixing coffee lost 500 million, expanded its business stores, doubled its business in one year, and its passenger flow increased fourfold
On November 14, Ruixing coffee released its latest performance report. The report shows that although its revenue has increased significantly, its losses continue to expand. However, they said that driven by the continuous burning of money, they could achieve the goal of surpassing Starbucks by the end of this year.
According to the financial report, the total net revenue of Ruixing coffee in the third quarter was 1.541.6 billion yuan, a year-on-year increase of 540.2%; The net loss was 531.9 million yuan, compared with 484.9 million yuan in the same period last year.
However, burning money brings about the rapid expansion of business. By the end of the third quarter, the total number of Ruixing coffee stores had reached 3680, double that of the same period last year.
The increase of stores brought about the increase of passenger flow. Ruixing coffee sold 44.2 million goods per month in that quarter, an increase of 407.1% over the same period last year; The cumulative number of trading customers was 30.7 million, with a year-on-year increase of 413.4%, both more than four times.
Earlier, Ruixing coffee set a plan to open 4500 stores by the end of the year, surpassing Starbucks. Ruixing CEO Qian Zhiya said, 'by the end of this year, we will achieve our goal of becoming China's largest coffee chain brand'.