Louisa's sideline gym rescues her main business; coffee and catering expansion fails

Luisa was once called a "pure black gold concept stock" by the market. (File photo)

[Reporter Gao Jiahe/Report from Taipei] Luisa, once called a "pure black gold concept stock" by the market, registered on the IPO in September 2021, and has been actively operating across industries since 2025, merging or expanding multiple catering brands at once. However, according to the latest consolidated financial report for the first half of 2026, there is an unexpected scene of "sideline business rescuing the main business". Among its many brands, the gym business is the one that stands out and has become the group's profit pillar.

Louisa's overall revenue in the first half of the year grew to 1.57062 billion yuan, but its net profit was only 6.6 million yuan, a decrease of more than half from the 15.09 million yuan in the same period last year.

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The financial report revealed that although Louisa's operating gross profit in the first half of the year increased from 595 million yuan last year to 695 million yuan, the total sales and management expenses soared to approximately 660 million yuan, resulting in operating profits of only 34.29 million yuan, a decline from 50.84 million yuan in the same period last year.

Among the reinvested businesses, "Self Room", a subsidiary that focuses on the gym business, recognized an investment interest of 5.65 million yuan in this period, making it the most profitable business unit of the group.

The coffee business, which was supposed to be the main body of the group, and the new catering business that had high hopes, have almost completely stagnated. For example, "Louisa Coffee Company", which is responsible for franchise authorization services, recognized an investment loss of 470,000 yuan in this period; "Bilijia Company", which is responsible for coffee monopoly, and "N402 Company", which leads Singapore's overseas layout, also recognized losses in their accounts.

In terms of cross-border catering, "Tai Feng Company", which operates Thai cuisine, recognized an investment loss of 5.05 million yuan, which shows that most catering sub-brands are not going smoothly in the expansion process.

According to industry analysis, Louisa has branched into completely different business formats such as hot pot, steak, and tea drinks in a very short period of time. What followed was fierce market competition and complex manpower allocation tests. However, the supply chain management, front-end service standards and back-end technology of different catering types are difficult to fully share with the existing coffee standardization process, resulting in the dispersion of resources and the delay in achieving the expected group synergy.

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