Chef Bao is making freshly made meat floss scallops in the store

Business Daily News (intern Chen Zheyu reporter Lu Wenjuan) recently came to the news that Christine, the "first baking stock" who had opened all over the streets and alleys, now announced that she had entered the bankruptcy liquidation process because she could not repay her debts, and collected property clues from the society. Speaking of Christine's cake shop, it must be the collective memory of a generation, and many netizens said that they still miss the Baumkuchen cakes and egg tarts in the store in the old days.

Similar to Christine's fate are a number of old-fashioned bakery brands such as Hangzhou Danby and Buoyancy Forest, which have quietly faded out of our field of vision in recent years. The new baking brands such as Chef Bao, Momo Dim Sum Bureau, and Hollyland have risen rapidly and become the new mainstream choice. The once glorious scenery is now gloomy and outcast, where is the old baking "trapped"?

Debt-ridden from listing to delisting in 10 years, "Baking First Shares" declared bankruptcy

4月3日，上海星瀚律師事務所發文稱，因不能清償到期債務且資產不足以清償全部債務，現面向社會公眾徵集克莉絲汀財產線索。目前天眼查顯示，上海克莉絲汀食品有限公司涉及司法案件908件，涉訴關係246條。早在3月12日，上海市第三中級人民法院就已作出民事裁定書，裁定受理克莉絲汀破產清算案。去年10月，克莉絲汀因不滿足複牌指引，香港聯交所決定取消克莉絲汀上市地位。12月，克莉絲汀發佈退市公告，“烘焙第一股”正式宣佈落幕。

回顧克莉絲汀的發家史，作為上世紀90年代的老牌子克莉絲汀曾依靠著工廠標準化生產、預付卡支付模式迅速擴張，巔峰時期在全國擁有超1000家門店，僅上海地區就有543家。2009年，克莉絲汀出資將近1億元併購了杭州“丹比藝術蛋糕”，擴大烘焙隊伍，進一步提升品牌影響力。2012年2月，克莉絲汀如願在香港交易所掛牌上市，被稱為“烘焙第一股”。

Christine, who seems to be ushering in the peak, has "collapsed" after going public, and has continued to lose money since 4, and the loss has continued to expand, and the store has been closed since the second half of 0. In 0/00, Christine fell into a serious business crisis, and it is reported that almost all stores in Shanghai were suspended at that time, and she once faced multiple problems such as factory shutdown, late payment of store rent, and arrears of employee wages. Less than half a year after a brief resumption of business in October of the same year, Christine closed its stores again in October, and Christine has reduced from more than 0 stores to more than 0 stores. In 0/0, Christine officially announced that all stores would be closed due to operational difficulties, and stock trading would be suspended in 0/0 of the same year. Since then, Christine has been in a state of shutdown, unable to resolve the debts she has incurred after more than a year of silence.

The cream cake "loses" the meat loose little shell

The new baking style of "freshly baked and made" + "grass marketing" is gaining the upper hand

和克莉絲汀的境遇相似，不少耳熟的老牌烘焙店也因為經營不善在近年來相繼閉店。曾是不少杭州人童年回憶的丹比蛋糕在被克莉絲汀收購后也走了下坡路，在2022年年底宣布暫停營業。在杭州20年多年的浮力森林蛋糕在2020年-2023年因為債務問題頻繁關店，在去年3月也已全面停業。這些老牌烘焙店被“困”在了哪裡？

From the perspective of product characteristics, the old bakery once relied on the model of central factory + cold chain distribution to achieve large-scale expansion. With the obvious change in consumers' preference for baked goods in recent years, they prefer healthy and low-sugar bread and pastries, and "sweet" products such as cream are no longer the primary choice of established stores. In addition, the product variety is solidified, and it does not follow the taste of consumers to make timely adjustments and innovations, and gradually loses its foothold in the baking market. From the perspective of marketing and promotion methods, old-fashioned brands are "trapped" in place by the model of prepaid membership cards, especially due to the development of the Internet and online payment, membership cards are no longer a weapon to "trap" consumers. In addition, management infighting, rigid management and other reasons have also contributed to the collective closure of a number of old bakeries such as Christine.

While the old brand is still in deep debt crisis, the new bakery has handed in a new answer. The pastry brand represented by Chef Bao and Momo Dim Sum Bureau has made a reputation for "freshly baked and made", no longer relying on the central factory, breaking the pre-made and pre-packaged model, catering to consumers' demand for fresh and healthy food. In terms of promotion and marketing, the new brand pays more attention to the communication of online social media, taking Hollyland as an example, it has co-branded with popular IPs such as Harry Potter, Light and Night Love, and My Little Pony for many times, constantly innovating the content of bakery products, and achieving continuous breakthroughs in the hot two-dimensional, trendy toys and other fields, and accurately attracting young consumers. The exit of old brands is a collective dilemma for the transformation of traditional pastry shops, and the entry of new brands may also confirm the direction of baking in the future.