Great post. Interesting that Woowa Brothers chose to monetize the restaurant side of the business rather than the customers – it sounds from your article that customers don’t pay a delivery charge? This is striking compared to similar companies in the US and UK which tend to charge customers a hefty delivery fee – is this due to the culture of free delivery that exists in South Korea? Also what revenue streams does the business have if it no longer charges a transaction fee to restaurants?
Great post! Hinckley reminds me of Sunseeker – a leading UK luxury yacht company which went through similar struggles during the recession and ended up being purchased by Wanda Group. A growing portion of Sunseeker’s customers are now wealthy Chinese – I wonder if Hinckley’s customer base is likely to shift towards China too and if they’re well placed to capture the growing luxury Chinese market.
I would also be interested to know what the PE owner changed operationally to help turn the company around.