I Want To Be a Rich Man on Hong Kong Island

Hong Kong Island is a shopping paradise for local residents and foreign tourists!

Since the end of the Korean War in 1953, the tourism industry on Hong Kong Island has developed vigorously. The number of people who come to Hong Kong for tourism and business every year has reached more than 300,000.

Hong Kong Island is the largest free trade port in the world, and the retail industry has gradually become highly internationalized;

A large amount of imports, followed by a large amount of exports, is the norm in Hong Kong's retail industry.

Hong Kong Island itself has also become an important production base for light industrial products in the world. In addition, the Hong Kong government pursues a free trade port policy-except for very few special commodities, which are subject to tariffs; the rest of the commodities are all tax-free.

Therefore, many products are cheaper than the place of origin, and naturally become a 'shopping paradise'.

Before 1960, Baiyou Group had not yet been established, and its predecessor was the four companies of Uniqlo;

No one thought that the Baiyou Group would become the overlord of a comprehensive business group on Hong Kong Island three years later.

Today's Baiyou Group is already composed of three major categories: manufacturing, clothing brands, and department store retailing;

Manufacturing: Uniqlo Garment Factory is a world-class garment production factory with a total of 7,000 employees; there are four large factories in Shau Kei Wan, Tsuen Wan, Kwun Tong, and Sing Tao on Hong Kong Island; the annual output value is over 100 million Hong Kong dollars , the annual profit can reach 18 million Hong Kong dollars.

Clothing brands: It is composed of three chain clothing brands: mid-range clothing brand Uniqlo, high-end clothing brands Armani and Valentino; all three brands have gone out of Hong Kong Island and have stores in various countries (regions) in Asia.

Department store retail industry: Lane Crawford Department Store (high-end), Dah Sing Department Store (mid-range and high-end), Zhonghua Department Store (mid-range), Metro Convenience Store, Lane Crawford Antique Store.

Mark was originally an executive of Lane Crawford, and after Lane Crawford was acquired by Baiyou Group, he did not seem panicked;

Instead, he actively cooperated with Fu Hongru in controlling Lane Crawford. It was precisely because of this that he was recommended by Fu Hongru as the president of Lane Crawford.

Mark is also the confidant and executive of the former president of Lane Crawford, Freddy, but Mark does not consider himself a traitor, and betrayed the former president of Freddy;

Because the acquisition of Lane Crawford has become a fact, and I am an executive of Lane Crawford, with a high salary of Lane Crawford, I am obliged to cooperate with the president or boss of Lane Crawford.

Thanks to the cooperation of the original team led by Mark,

Baiyou Group took over Lane Crawford intact, and its business has grown steadily in the past three years!

After Mark took over Lane Crawford, he felt Lane Crawford's market positioning, and Lane Crawford gave people a sense of "overwhelming heights";

Gu wanted to add some mid-range items to appeal to some of the middle class.

But Mark changed his mind and thought again, if he manages mid-range products, will it lower the grade of Lane Crawford and lose its original characteristics, and will the gains outweigh the losses.

Soon, Mark thought of another trick, which was to buy mid-range department stores to fill the shortcomings of Lane Crawford;

Mark's move was affirmed by Wu Guangyao, the real boss of Baiyou Group.

In June last year, Mark took on a big role, initiated the acquisition of Dah Sing Department Store and China Department Store, and established Lane Crawford Antique Company.

With the financial strength of Baiyou Group, the acquisition of two department stores did not happen unexpectedly;

In just one month, Baiyou Group paid 32 million Hong Kong dollars (the loan part), and two department stores were successively included in the department store system of Baiyou Group;

The reason why it is so expensive is naturally that both companies have their own properties.

The commodities operated by Chinese-funded department stores on Hong Kong Island have always been divided into two categories;

Xianshi and Yong'an mainly deal in western goods, while Zhonghua and Yuhua are all local goods.

On Hong Kong Island, Oriental commodities have always been neglected, so there is a huge living space for the later Dongying Department Store.

After Mark acquired Dah Sing Department Store and Zhonghua Department Store, Wu Guangyao reminded him;

Therefore, Mark quickly rectified and expanded the product categories.

For example, Dah Sing Department Store originally mainly dealt in mid-range products, mainly local products, supplemented by foreign products;

After Dah Sing Department Store was acquired by Baiyou Group through Lane Crawford, Mark immediately changed the products: he also operated medium and high-end products, and developed three categories of local products, European and American products, and Oriental products.

Similarly, after Zhonghua Department Store was acquired by Baiyou Group, although it continued to operate mid-range products, it added a lot of Japanese and foreign products.

Everyone saw Mark's professional ability, and he was quickly affirmed by his boss Fu Hongru and his boss Wu Guangyao and his wife;

Mark was officially identified as the head of the retail industry of Baiyou Group, responsible for companies such as Lane Crawford, Daxin Department Store, Zhonghua Department Store, Lane Crawford Antiques, and Metro Convenience Store.

Mark can be said to be proud of his spring breeze, but he doesn't know that the first difficulty to test him is coming!

 …

Xianshi Ma's family and Yong'an Guo's family are all overseas Chinese in Australia;

The descendants of the two founders even married, but this did not prevent the two from competing in business;

As the saying goes, there are no fathers and sons in shopping malls, let alone relatives;

The competition between the two has been going on for more than 50 years since Wing On joined the Hong Kong Island department store industry;

The two headquarter buildings are taller than the other, and the head office and branches are also close at hand. The two are like fighting hand in hand. Who is strong and who is weak, both sides know each other.

After Lane Crawford acquired Dah Sing Department Store and Chunghwa Department Store, the leaders of Xian Shi and Wing On had to sit together to discuss countermeasures.

Lane Crawford Department Store has always been the well-deserved overlord of high-end department stores on Hong Kong Island;

A few years ago, they changed to a powerful boss. How can the two be not afraid?

The competition between the two has been at least equal for many years, and the two sides are evenly matched;

In this way, Lane Crawford's acquisition of Dah Sing Department Store and Zhonghua Department Store has made a large-scale adjustment of its strategy, and the target is self-evident.

"Instead of waiting for Dah Sing Department Store and Zhonghua Department Store to be reborn, it is better for us to join forces first!" said Ma Zhaojun, the son of Ma Yingbiao (the founder of Xianshi), who is also the current head of Xianshi Department Store.

"Why do you act first?" Guo Fei, the son of Guo Quan, the founder of Yong'an, responded, and he is also the current head of Yong'an Department Store.

"Naturally, it's a discount. Let's decide the specific discount according to our own situation!" Ma Zhaojun said.

Naturally, Ma Zhaojun would not tell Guo Fei everything. After all, the two companies also have a competitive relationship. Now there is only one spoiler, and the two companies are temporarily cooperating.

"That's good! Based on the experience and channels our two companies have accumulated in mid-range department stores, I don't believe that we can't beat a spoiler; no matter whether the spoiler is a dragon or a snake, we have to get down obediently this time." Guo Fei confidently Said.

The two are so confident, they naturally think that the department store industry is not other industries, it needs a long-term reputation and customer channels accumulated over the years.

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