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  • Gordon Dumoulin

"The third place" for Chinese millennials going public...


๐˜Š๐˜ฉ๐˜ช๐˜ฏ๐˜ขโ€™๐˜ด ๐˜ฐ๐˜ง๐˜ง๐˜ญ๐˜ช๐˜ฏ๐˜ฆ ๐˜ด๐˜ฐ๐˜ค๐˜ช๐˜ข๐˜ญ ๐˜ฑ๐˜ญ๐˜ข๐˜ต๐˜ง๐˜ฐ๐˜ณ๐˜ฎ ๐˜ง๐˜ฐ๐˜ณ ๐˜ฎ๐˜ช๐˜ญ๐˜ญ๐˜ฆ๐˜ฏ๐˜ช๐˜ข๐˜ญ๐˜ด



An โ€˜English pubโ€™ in China went public at the Hong Kong Stock Exchange few weeks ago raising 300 million dollars. Helenโ€™s looks like an English pub in many ways, beers, drinks and greasy snack foods but itโ€™s definitely not marketed as typical bars in the Western world . Targeted at the millennials, it is labeled as the โ€œ๐—ผ๐—ณ๐—ณ๐—น๐—ถ๐—ป๐—ฒ ๐˜€๐—ผ๐—ฐ๐—ถ๐—ฎ๐—น ๐—ฝ๐—น๐—ฎ๐˜๐—ณ๐—ผ๐—ฟ๐—บโ€ and seen as "๐˜๐—ต๐—ฒ ๐˜๐—ต๐—ถ๐—ฟ๐—ฑ ๐—ฝ๐—น๐—ฎ๐—ฐ๐—ฒโ€ (not being at home or in the office/classroom).





Founded in 2009 by Xรบ Bวngzhลng ๅพ็‚ณๅฟ  with a first pub in Beijing, Helenโ€™s scaled up since 2018 and manages about ๐Ÿฑ๐Ÿฌ๐Ÿฌ ๐—ฝ๐˜‚๐—ฏ๐˜€ ๐—ป๐—ฎ๐˜๐—ถ๐—ผ๐—ป๐˜„๐—ถ๐—ฑ๐—ฒ today. Helenโ€™s target demographic is college students and young workers. To that end, the company chooses locations near large universities in ๐˜€๐—ฒ๐—ฐ๐—ผ๐—ป๐—ฑ- ๐—ฎ๐—ป๐—ฑ ๐˜๐—ต๐—ถ๐—ฟ๐—ฑ-๐˜๐—ถ๐—ฒ๐—ฟ ๐—ฐ๐—ถ๐˜๐—ถ๐—ฒ๐˜€, which promise not only cheap rents but also a large and steady flow of millennial consumers.




No dance floors, disco lights, DJโ€™s or live music, Helenโ€™s secret sauce is excellent service, a nice and cozy atmosphere, and not the least important affordable drinks and foods. Their ๐—ผ๐˜„๐—ป ๐—ฝ๐—ฟ๐—ถ๐˜ƒ๐—ฎ๐˜๐—ฒ ๐—น๐—ฎ๐—ฏ๐—ฒ๐—น๐—ฒ๐—ฑ ๐—ฏ๐—ฒ๐˜ƒ๐—ฒ๐—ฟ๐—ฎ๐—ด๐—ฒ๐˜€ count for about 70% of the total sales such as Helenโ€™s root beer, craft beer, fruit drinks or milk beer. Helenโ€™s craft beer comes at about RMB 8-10 (USD 1.25-1.50). But also the Corona, Budweiser or other brands come much cheaper than other pub, restaurant or KTV outlets in China.







Helenโ€™s is intensively using social media as promotion. Last year they launched the โ€œHelenโ€™s Coke bucketโ€ promotion, offering a coupon to any customer uploading a short video on Douyin (Tiktok in China) while drinking the huge cola-whiskey bucket. The promotion was ๐˜ƒ๐—ถ๐—ฒ๐˜„๐—ฒ๐—ฑ ๐Ÿญ.๐Ÿฎ ๐—ฏ๐—ถ๐—น๐—น๐—ถ๐—ผ๐—ป ๐˜๐—ถ๐—บ๐—ฒ๐˜€ and Helenโ€™s Coke Bucket is now their signature beverage.




Helenโ€™s ambitious, distinctive goal: being โ€œtheโ€ physical gathering space for Chinese youth who want ๐™ฉ๐™ค ๐™š๐™จ๐™˜๐™–๐™ฅ๐™š ๐™›๐™ง๐™ค๐™ข ๐™ฉ๐™๐™š ๐™ซ๐™ž๐™ง๐™ฉ๐™ช๐™–๐™ก, ๐™ค๐™ฃ๐™ก๐™ž๐™ฃ๐™š ๐™จ๐™ค๐™˜๐™ž๐™–๐™ก ๐™ข๐™š๐™™๐™ž๐™– ๐™˜๐™ค๐™ข๐™ข๐™ช๐™ฃ๐™ž๐™ฉ๐™ž๐™š๐™จ, being the standard for โ€œoffline social platformsโ€


Helenโ€™ worth at the stock exchange is USD 3.6 billion and according to the prospectus, the operating revenues of Helenโ€™s were $17 million, $86 million, and $125 million in 2018, 2019, and 2020 respectively. In 2020, it registered $11 million in profits.


๐˜›๐˜ฉ๐˜ฆ ๐˜Š๐˜ฉ๐˜ช๐˜ฏ๐˜ฆ๐˜ด๐˜ฆ ๐˜ฐ๐˜ง๐˜ง๐˜ญ๐˜ช๐˜ฏ๐˜ฆ ๐˜ด๐˜ฐ๐˜ค๐˜ช๐˜ข๐˜ญ ๐˜ฑ๐˜ญ๐˜ข๐˜ต๐˜ง๐˜ฐ๐˜ณ๐˜ฎ ๐˜ง๐˜ฐ๐˜ณ ๐˜ฎ๐˜ช๐˜ญ๐˜ญ๐˜ฆ๐˜ฏ๐˜ช๐˜ข๐˜ญ๐˜ด....


#china#chinesesociety#chineseculture#millenials#chinesemarket#china2021

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