张勇亲自下场，海底捞学老干妈自救？

花朵财经观察01-19

出品丨花朵财经观察（FF-Finance）撰文丨华见“小便门”后不到一年，海底捞迎回了创始人张勇。这是不到四年时间里，海底捞第三次更换CEO。从杨利娟到苟轶群，两任职业经理人没能稳住增长颓势，最终还是要创始人亲自下场救火。张勇的回归，绝非偶然，背后是海底捞日渐承压的业绩，和亟待破局的发展困境。PART.01“服务神话”梦碎2025年上半年，海底捞交出一份黯淡的成绩单。公司实现营业收入207.03...

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href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260119143123a43bae81&s=b><strong>花朵财经观察</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>出品丨花朵财经观察（FF-Finance）撰文丨华见“小便门”后不到一年，海底捞迎回了创始人张勇。这是不到四年时间里，海底捞第三次更换CEO。从杨利娟到苟轶群，两任职业经理人没能稳住增长颓势，最终还是要创始人亲自下场救火。张勇的回归，绝非偶然，背后是海底捞日渐承压的业绩，和亟待破局的发展困境。PART.01“服务神话”梦碎2025年上半年，海底捞交出一份黯淡的成绩单。公司实现营业收入207.03...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260119143123a43bae81&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0488056044.USD","symbol_name":"Allianz Asian Multi Income Plus Cl AM DIS 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INC"},"translate_title":"Zhang Yong personally came to an end, and Haidilao learned from Laoganma to save herself?","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"89618":0.6,"89988":0.6,"01810":0.9,"ALBmain":0.6,"06862":1.96,"09988":0.9,"HBBD.SI":0.6},"content_text":"出品丨花朵财经观察（FF-Finance）撰文丨华见“小便门”后不到一年，海底捞迎回了创始人张勇。这是不到四年时间里，海底捞第三次更换CEO。从杨利娟到苟轶群，两任职业经理人没能稳住增长颓势，最终还是要创始人亲自下场救火。张勇的回归，绝非偶然，背后是海底捞日渐承压的业绩，和亟待破局的发展困境。PART.01“服务神话”梦碎2025年上半年，海底捞交出一份黯淡的成绩单。公司实现营业收入207.03亿元，同比下降3.7%；核心经营利润24.08亿元，同比下降14.0%；净利润17.55亿元，同比下降13.7%。而其曾经引以为傲的翻台率，从2019年的4.8次/天跌至2025年上半年的3.8次/天。人均消费更是连续两年跌破百元，2024年降至97.5元。在苟轶群任期，为了寻找新增长点，海底捞推出“红石榴计划”，打算孵化14个餐饮新品牌。覆盖烤肉、炸鸡、寿司、烘焙、砂锅菜、小火锅、大排档火锅等多元品类，品牌有焰请烤肉铺子、从前印巷、小嗨爱炸、鮨寿司、举高高小火锅等，目前尚未有出圈的。但截至2025年6月，这些新品牌营收占比不足3%，远未达到预期。外卖业务虽然增长60%，但体量太小，难以扛起大梁。两任职业经理人都曾试图力挽狂澜。杨利娟主导“啄木鸟计划”关停门店，帮海底捞止血；苟轶群推动数字化转型，设立创新委员会。但他们的动作，更多是在现有框架内优化。面对消费市场的剧烈变化，职业经理人偏于守成的特质，让海底捞错失了不少转型良机。今年1月8日， “小便门”事件终于落下帷幕，海底捞胜诉并获赔220万元。然而，这笔赔偿金还没焐热，当晚一段 “幼童将尿不湿扔进火锅” 的视频便在网上快速流传，这家餐饮企业再次被推上风口浪尖。餐饮行业人士直言，当下的市场环境，需要创始人那种敢于推倒重来的狠劲。张勇的回归，正是要给海底捞注入这种破局的魄力。PART.02创始人纷纷回归张勇的出山，只是消费行业创始人回归潮的一个缩影。近年来，越来越多企业在困境中，选择请创始人重新掌舵。周黑鸭创始人周富裕、香飘飘创始人蒋建琪、美邦服饰创始人周成建，纷纷重归一线。这其中，老干妈创始人陶华碧的回归，堪称教科书级别的救场案例。2014年，陶华碧退居二线，将老干妈交给两个儿子打理。为了降本，二代管理者将核心原料贵州辣椒换成河南辣椒。这一决策，直接导致老干妈风味大变，口碑一落千丈。2016年起，公司营收连续下滑，市场份额被虎邦、饭爷等品牌蚕食。2019年，72岁的陶华碧不得不重新出山。她没有搞复杂的战略改革，而是直击要害：全面恢复使用贵州辣椒，哪怕成本上升也在所不惜。有一次，一批产品风味出现微小偏差，陶华碧直接下令销毁价值百万元的500吨货品。她的理念很简单：做食品要讲良心，不能砸了老招牌。这个决定，让老干妈重获了消费者信任。2024年，老干妈营收逼近54亿元，几乎追平历史峰值。如今，近80岁的陶华碧仍时常出现在生产一线。她坚守的“保守主义”经营哲学，成了老干妈的护城河：不上市、不贷款、不盲目扩张，聚焦一瓶辣酱做到极致。如今，在海外市场，老干妈更是成了“硬通货”。产品行销全球160多个国家和地区，2023年海外营收增速达30%。不靠花哨的营销，只凭稳定的口味和高性价比，老干妈在海外闯出了一片天。不止消费行业，互联网和科技圈的创始人回归潮同样汹涌。2025年，马云回归阿里推动AI转型，刘强东重掌京东发力外卖市场，张一鸣坐镇字节跳动应对TikTok危机和AI竞争。太平洋彼岸的美国科技巨头，也在上演相似的剧情。扎克伯格亲自带队攻坚AI技术，马斯克手握特斯拉和X两大业务的决策权，谷歌创始人布林推动DeepMind和Brain团队合并。这些科技大佬的回归，指向一个共同的认知：职业经理人擅长守成，但在技术大断裂的关键时期，只有创始人敢做生死攸关的激进决策。贝恩咨询的研究数据显示，1990年至2014年，创始人参与管理的上市公司，股东回报率是其他公司的三倍。即便是剔除科技企业，这一数字也能达到两倍，由此可见，创始人和企业是唇齿相依的。PART.03创始人不是万能药在商业环境高度不确定的当下，曾被奉为圭臬的职业经理人模式，正在被重新审视。但这并不意味着，创始人回归就能包治百病。创始人模式的隐忧，其实一直存在。过于依赖创始人个人IP的企业，往往难逃“成也萧何，败也萧何”的命运。比如薇娅的翻车让背后的公司市值大幅缩水。即便是小米、格力这样的大品牌，也曾因创始人的言论陷入舆论漩涡。这些案例都在提醒市场——品牌永远大于个人IP。一个健康的企业，不能把命运押在某个人身上。创始人回归或许能短暂挽回局面，但企业长久发展的核心命题，终究是传承。如何将创始人的精神和理念，转化为组织的能力，如何培养出既能坚守初心，又能拥抱变化的接班人，才是所有企业需要思考的终极问题。张勇回归海底捞后，提拔了四位年轻的执行董事。这或许是他为传承埋下的伏笔。但未来，海底捞能否摆脱对创始人的依赖，走出一条可持续的发展之路，还有待时间检验。*本文基于公开资料撰写，仅作信息交流之用，不构成任何投资建议扫码加入“花朵财经”读者群讨论热点话题读懂新消费、新科技▎最新热文▲产品被投诉，股权将易主！“国产奶粉第一品牌”跌落神坛？▲携程被反垄断调查，下一个是谁？","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 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