Mengniu Dairy has once again undergone a major personnel adjustment. On October 10, the company announced that Lu Minfang has resigned from all positions including executive director and vice chairman of the board, citing the need to devote more time to personal and family matters. At the same time, Wang Xi was appointed as a non-executive director. Lu Minfang took the helm as Mengniu's president in 2016, and over eight years revenue grew from 54 billion to 98.6 billion, yet the gap with Yili continued to widen. In March of this year, the president role was already handed over to veteran Gao Fei. With Lu Minfang now making a complete exit, whether Mengniu can break through under its new leader has become a focal point of industry attention. [more…]

Luckin Coffee has partnered with Mengniu's Deluxe milk brand to launch a limited-edition new drink, "Deluxe Exclusive Pasture Latte," priced from 14.9 yuan, or 17.9 yuan for an upsized cup, making it the most expensive item on the mini-program menu. The preparation method for this latte is quite distinctive: for the iced version, the espresso must first be stirred with Deluxe milk for 8 rounds, then poured into a smoothie blender and frothed for over ten seconds, and finally sealed in a cup with ice; for the hot version, the espresso is added to a milk pitcher, mixed with milk, and heated. However, feedback from the first batch of consumers indicates that the finished product does not have a dense layer of milk foam on the surface, and the taste is not much different from an ordinary latte. Staff explained that the milk foam dissipates very easily and recommended drinking it immediately at the bar. Front Street Coffee has noticed that this innovative process has sparked online discussions about "ritual" versus practicality. [more…]