"Stingy Boss" Hu Zi Jing'S Dream Of Interlocking Chains

The latest version of his "stingy" story took place at the end of August this year. He followed a delegation to Africa. Because of the cool weather, he decided to temporarily buy clothes to keep out the cold when he started off in Hongkong. The result was that he ran to otris for 1800 yuan to buy a brand of windbreaker with an original price of more than 5000 yuan.

"I bought both good and money, and I don't think it's a stingy."

Seeing the reporter, Hu Zi Jing laughed and explained that he was able to inspect the Hongkong ogris on the same day.

But this is such a "stingy boss", the recent continuous.

Chairman Hu Zijing

Targeting the business opportunities of outlets

"After so many years of business, I will not give up easily."

Hu Zi Jing said with a smile that he could not see rabbits without hawks.

In his opinion,

Oteri J is the pliteration of English OUTLETS, meaning "way out" and "export". So far, it has a history of more than 100 years.

As a commodity factory, brand owner, brand agent, brand wholesaler and large department store, a fully functional retailing format is available. Orlies can enable the brand consumers to buy the lower shelf, over season and broken codes of the famous brand goods pferred from high-end stores or shopping malls at a lower price.

After 2000, Oteri J's format flourished in Shanghai, Beijing, Chengdu and other places.

"In the 90s of last century, when he went abroad to study, he met otter, but at that time it was impossible to do that. Only after visiting Shanghai's orlies in 2000 did he create the dream of creating central orlies in his heart.

However, the timing of implementation is not mature until the company is listed. "

Hu Zijing said that since the introduction of LV and CUCCI from the US and the friendship store and a large number of international first-line brands to the Changsha market, Hunan's luxury goods consumption groups have gradually matured.

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Hu Zi Jing expects that there will be no less than 30 international second line shops in Apollo's outlets, but will also select hundreds of international brands and first-line famous brands in China. It is expected that the number of famous shops will exceed 300.

The latest sales data of Beijing Yansha orlies and Shanghai Qingpu outlets show that its year-round famous brand special sale has attracted neighboring provinces and cities and consumers from all over the country. It has become a regional shopping tourism hotspot in Beijing and Shanghai.

Friendship Apollo austles shopping park is located in the southern part of Changsha, adjacent to the provincial high end business district, 10 minutes drive around, surrounded by Tianling national Forest Park, Hunan forest botanical garden, Changsha Ecological Zoo, Zhao Shan Scenic Area and other national scenic spots, such as clouds.

Hu Zijing said that friendship Apollo aims to create Changsha's unique outlets, the shopping park is not only a famous discount center, its European style architecture, winding central waterway and beautiful garden sketches will also make this a wonderful European town.

In the future, friendship Apollo's rice parks will also become an important node in Hunan's tourism market and an outdoor MALL for residents of Changsha Zhuzhou Xiangtan.

Feifei Sun, an analyst with Guoxin Securities, believes that the project may become a shopping mall with outlets, similar to Wanda Plaza and other large suburban SHOPPING MALL. This is a place in Changsha, a department store oriented city, which may become a place to change and promote holiday entertainment for local people.

As the first new project to be implemented after the listing of jiamundo (the predecessor of youa shares), the superposition of the dual concept of the outlets and discount amusement parks has not only found "exports" for the traditional department stores of friendship Apollo group, but also is the commercial flagship leading to the consumption trend of Hunan to Hubei and Jiangxi provinces.

Hu Zijing revealed that Changsha outlets will open before and after new year's day. Next year's sales are expected to reach 500 million yuan, which will increase by 20%-30% annually and 1 billion in three years.

The profit of the project is around 12% yuan, or 60 million yuan, with a deduction of 40 million. That is to say, Changsha outlets is expected to contribute a net profit of 20 million yuan to the listed company next year.

Set up a chain of outlets

Authorities in the industry believe that in recent years, the rapid economic development in the region and the increasing consumption capacity of residents have contributed to the purchase of middle-class consumer groups with a certain purchasing power and brand recognition capability, but at a relatively preferential price.

Aotles created by the friends of Asia is meeting the consumer appeal of the rising middle class to buy branded goods at a low price.

Following the Changsha outlets, friends and shares once again work together with Tianjin Binhai oris investment limited liability company, and plan to develop Tianjin Binhai Oteri J.

Its residential development area is 77 thousand square meters, covering an area of 35 thousand square meters.

The total investment amount of the project is about 950 million yuan, and now it is in the design stage. The apartment building will be sold in the second half of next year. The Oteri J part will also be established in the second half of the year, and will be open in the second half of next year.

The company added 52 million 50 thousand yuan to the coastal outlets, accounting for 51% of the company's shares.

"Once a retailer has opened Oteri J in a certain area, the format will have a strong radiation over the 2-3 hour drive area, which is no longer suitable for other competitors to enter.

That is to say, a city can open 10 department stores and 100 supermarkets, but only one Oteri J. "

Hu Zijing said that Oteri J's format will usher in a high growth period in the next 5-10 years. The layout of the company in Changsha and Tianjin can be said to have taken the lead in China.

His views were recognized by analysts of Shenyin and Wanguo.

The analysts believe that early retailers can successfully deploy outlets in the whole country, to a large extent, to form their own barriers in the region.

The strategy of Oteri J's rapid development in the whole country reflects the company's management's long-term strategic judgement on China's consumption upgrading, its deep understanding of the commercial retail market and its high sensitivity to the new business format.

It is reported that the company has started to set up the Department of the outlets. Through its brand resources advantages, the company has already separated from the provincial suppliers and has established direct links with the manufacturers. The next step will be to inspect the domestic cities.

"We can build our own team after Changsha's orlies gradually matures. The successful operation of the project will play an exemplary role in the expansion of the company in other cities."

Hu Zi Jing is full of confidence.

Expansion: it's time to shoot.

In Hunan, the name of Hu Zi Jing is a commercial cultural symbol, or even a history of Hunan's business.

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In 1974, Hu Zi Jing was a board driver of a small shoe shop. But after more than 30 years, he had a business empire in his hands, and his body was over 100 million yuan. His friend's shares controlled by Changsha commercial state owned Assets Management Co., Ltd. were wholly pformed into Hunan Changsha friendship group (Group) Co., Ltd. and Changsha Apollo commercial city.

20 years ago, the predecessor of Changsha friendship, the state-run Changsha friendship store, was a declining trend: the total assets were only 30 million yuan, the annual turnover was less than 40 million yuan, the business area was 2800 square meters, the annual loss was about 2000000 yuan, the wages of workers were not paid, and the embarrassment of borrowing money and wages was also encountered. In the large department stores of Changsha in early 1990s, it belonged to "difficult households".

In December 2, 1989, he was appointed general manager of friendship overseas Chinese store in distress.

At the beginning of the term, it was near the end of the year, but many stores were empty. Hu Zi Jing rushed to Shenzhen to look for goods, look at the samples, bargain, sign contracts, and pack the consignments.

A month later, the company made a profit of 470 thousand yuan.

Since then, he has begun to expand the scale. By the year 1998, the friendship store has become the largest commercial enterprise in Hunan province.

In 2009, the company was successfully listed on Shenzhen Stock Exchange.

At present, you are the largest department store in Changsha, with seven department stores.

In 2007, the business area was 105 thousand square meters, and increased to 180 thousand square meters in 2008, an increase of 71.8%. The number and operation area of the stores far exceeded that of the local main competitors, and the regional leading position was very significant.

It is worth noting that the 83 thousand and 700 properties of the company's own property are up to a total of about 2000 square meters, which is not only the main business area of the local business district, but also reduces the operating cost of the company (referring to the simple annual rent of 2000 yuan / m2), with only one property owned, and the annual operating cost can be saved by $300 million.

At the same time, the autonomy of its own property is relatively large, so that it can be adjusted accordingly according to market changes.

Take Changsha friendship store and Apollo mall as an example. The two stores were originally separate, separated by only one wall, and the format was very similar, resulting in a waste of resources. In 2009, they became a A (B store) and became the largest high-end department store in Changsha. In the same year, they realized 710 million yuan in business income and nearly 90 million yuan in profits. Compared with the 104.02% stores before the pformation, the sum of business revenue and profit increased by 104.02% and 211.49% respectively.

In the interview, Hu Zi Jing talked about the expansion of the company many times. He admitted that as the scale of the company expanded, more and more investment opportunities came to visit. "Most of them are traps. When I was in the roadshow, I promised that I should make a move when I was ready to sell, so I would not give it up easily."

In his eyes, Changsha's base camp is always the top priority of the friend's stock.

Hunan consumptive capacity ranks first among the five provinces in Central China, especially along with the opening of Changsha high-speed rail and the integration of Xiangtan's three cities in Changsha, and the Hunan inter city railway plan will further narrow the distance between Hunan and other cities in Changsha. He thinks that 5 years later, Changsha will become the most important city in the central region. Continuing to consolidate the advantages of the company in Changsha will be an invariable strategy in recent years.

However, he also mentioned that the company will enter the developed cities and provincial capitals when the right opportunity arises, or acquire locally mature enterprises in the second tier cities.

"Investment is easy to make money difficult, I belong to a steady type of investors. Next, cities like Xi'an and Chengdu can be used as an early target."