Youngor is doing? Many people know that it's clothing. However, the company's 2008 annual report shows that in Youngor's annual turnover of 11.4 billion yuan, the real estate business accounted for 30% of revenue. Younger Group's official website also shows that the company's "core business" is: branded apparel, real estate development and equity investments. The preference for real estate has also infiltrated Youngor's apparel business. It is reported that all of the company's clothing outlets are purchased by themselves rather than rented. "Sitting in their own shop to buy inside, I feel completely different." Younger Group Vice Chairman Li Rugang said. The channel is in your own hands Youngor Why buy their own stores, rather than rent it directly? This is actually a "helpless move." The last century, the 80's, Younger and the country had more than 4,000 state-owned department store cooperation was very good, they constitute a Younger important terminal system. However, by the mid-1990s, with the deepening of the system reform, many of the department stores went bankrupt, which severely hit Youngor's terminal system. Youngor, on the other hand, shares similar experiences with many local Chinese brands. Younger is also considered as "not of a high grade." However, the new department store after restructuring, as well as a large number of foreign-funded and joint-stock department stores, refused to enter the market. Some media have commented: "Shanghai Nanjing Road, Huaihai Road, represented by China's most golden district, respected foreign brands at the same time, but will gradually remove indigenous brands born and out." So, in the mid-90s Later, Youngor decided to open its own stores, and only do not rent shop to buy a store, do not want to channel "controlled." Li believes that even though renters can make their financial statements look better, companies pay a rent each year, and if they buy it, they're "left in the business." Moreover, the Youngor at the time already have sufficient financial strength to support the direct store purchase. It is reported that Youngor has invested more than a billion yuan in purchasing shops. Younger can also be considered a good time to buy, because many domestic commercial real estate restructuring, the price is not too high, Youngor took the opportunity to buy a large number of shops, and now the prices of these shops have risen a lot. Self-operated stores have become the most important sales channel for Youngor, contributing 45% of Youngor's apparel sales. The company's love of self-operated stores is still spreading. Its 2008 annual report states: "In 2008, due to the macroeconomic environment, a number of small and medium-sized apparel brands, especially some of the major brands, witnessed a conspicuous decline. Younger took the opportunity to concentrate its superior resources, intensive and well-developed coastal areas Regional and Midwest provincial cities, focused on the establishment of additional stores, stationed in large shopping malls. "Store more and better? In order to be able to firmly grasp the channel in their own hands, Youngor in 1995 set up a "Younger Garments Co., Ltd.", began laying the marketing network across the country, from first-tier cities to second and third tier cities, as well as rural markets, all-encompassing. At its peak, its retail outlets once surpassed 5,000, including shops in stores, self-operated stores and franchise stores and other forms. However, the terminal "good and bad", to Younger brand name has brought great damage, which Youngor has always wanted to go the high-end line does not match, and in the management did not achieve very good results. Thus, Youngor decided to expand the core city at the same time, compression and control located in non-core business district shops. "It took Younger five to six years to complete the work of reducing the number of retail terminals from 5,000 to 2,000," said Li Rugang. First, Youngor gave up a large number of terminals rooted in rural markets. "Even if the countryside is a vast market, there is no need to take the products to the countryside for sale, and the core market is always in the cities," said Li Rugang. Youngor, on the other hand, has started to adopt the strategy of "direct store instead of franchise store" in the hope of better controlling the terminal. Due to the relatively poor performance of franchise stores, franchisees formed the bulk of the stores that were cut, leaving only about 200 well-established franchisees to be retained. By the end of 2008, the total number of Youngor stores has been reduced to 1808, of which there are nearly 400 franchised stores and more than 1,000 shopping malls counters. However, the parallel store also continued to improve, the data provided by the company shows that in 2008, the company stores reached 14,100 yuan / square meter, an increase of 16.53%. Flagship store, we still buy the flagship store was considered a luxury brand of the patent, it is always in the heart of a city, showing a certain status, its brand effect is self-evident. For example, Apple Inc., a 10,000-square-foot flagship store on Fifth Avenue in New York's fashionable landmark, has a glass cube with a big apple logo hanging inside. It is said that millions of people can be drawn daily. In 2005, Youngor spent 152 million yuan in the "China First Street" Shanghai Nanjing Road opened a flagship store, is still only buy or rent. Youngor Group purchased the original "Zhongbao Silver House," the entire building of property rights, its Chairman Li Rachel said: "Nanjing East Road has always been the vanguard of major fashion brands, we spent 152 million yuan to buy the entire building, indicating that We create international brand determination. "In a well-known online reviews, the reporter saw a netizen made such a comment: Yesterday went, and now 50% off activities to help her husband bought a suit. a tie. Discount 1320 yuan. Had also intended to buy a shirt, and then go to the hundred letters there Youngor special shirt, the other is the same, that is off code, just her husband wearing a size. The price is cheaper than the flagship store 100, bought two. "Do not buy only rent," so Youngor can grasp the sales terminal, rapid response, and also reduce costs, so that its gross profit margin in the industry to maintain a high level. However, it should also be noted that such an approach needs to be supported by sufficient financial strength, which SMEs in general may not be able to achieve.
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