"What I have heard from families it is so traumatic and distressing. I have seen Trusts that have changed their practices as a result of what has happened in those trusts. It is a very mixed picture. It is not consistent."
At the same time, the company’s weaknesses and growth pain points are equally prominent—and have become the central tests on its path to an IPO. First, control gaps in the franchising model are glaring. With franchised stores accounting for more than 95% of the network, quality control is extremely difficult. In 2024, the “worm incident” at a Beijing franchise store triggered a crisis of trust in the brand; related complaints on the Black Cat platform exceeded 380. Revenue at some outlets plunged by 30%. Meanwhile, in 2025 the ratio of newly opened to closed franchise stores deteriorated from 15:1 to 3:1. Franchisees’ payback periods averaged 13–20 months—and could be longer in top-tier cities due to intense competition. Waning franchisee enthusiasm directly undermines the stability of the company’s core source of revenue.
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Warning: This article contains details about sexual abuse
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即便是供应链巨头苹果和三星也难以幸免。2025年8月，台积电CEO魏哲家造访苹果总部时，也提出了近年来最大幅度的涨价要求，苹果长期享有的产能优先权岌岌可危；有报道称，三星半导体部门甚至拒绝了自家手机部门长期供应协议的请求。，推荐阅读体育直播获取更多信息
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