Shanghai's last Freshhippo X membership store will cease operations on August 31, marking the complete shutdown of all Freshhippo membership stores. This signifies Freshhippo's full exit from a business once hailed as it's "second growth curve" and positioned as a challenger to Costco.
Freshhippo launched its first X Membership Store in Shanghai in October 2020. After entering Beijing in June 2021, the brand accelerated expansion, opening four new stores between Dec 8, 2021, AND Jan 14, 2022. By October 2023, Freshhippo had operated 10 membership stores accross Shanghai, Beijing, Nanjing, and Suzhou.
Store employees attributed the closures to Freshhippo's strategic decision to discontinue the membership format. The membership program featured two tiers: a 258-yuan annual gold tier and a 658-yuan diamond tier, targeting middle-class families and high-end cusumers. Insiders confirmed the closures resulted from Freshhippo's proactive business restructuring.
