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The world's largest home appliance chain behind Best Buy's effort - Best Buy, Five Star Appliance - by na b
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The world's largest home appliance chain behind Best Buy's effort - Best Buy, Five Star Appliance - by NA B
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| Article Posted: 02/23/2011 |
| Article Views: 78 |
| Articles Written: 2638 - MORE ARTICLES FROM THIS AUTHOR |
| Word Count: 868 |
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The world's largest home appliance chain behind Best Buy's effort - Best Buy, Five Star Appliance - |
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Business,Business News,Business Opportunities
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China Home Appliances The most notable merger integration of retail experiment has chess to the plate, then? Let Five Star more "
Best Buy "And more offensive, and to allow the country a genuine fear the U.S. Suning
Even be the world's largest electronics retail chain Best Buy is holding a full three years later, has always been the industry that "tepid" five-star appliances, change seems not so obvious? This makes a little bit disappointed. May 12, 2006, when Best Buy announced 184 million U.S. dollars holding China's fourth largest home appliance chain of Five Star, the gave its industry sensation? As the first Chinese home appliance retail M & A transactions, the industry cried out in alarm "crying wolf" when Best Buy will also curious about the Chinese home appliance chain with to where.
Now that the results announced, but contrary to everyone's expectations: Five Star neither rapid expansion (although its founder Wang Jianguo had hoped so), has not suddenly highbrow to lead the so-called "value of war." But that is just appearance. Today, Five Star president Wang Jian is planning a retail test store opened to carry out some "Best Buy" type of attempt to test how many are valid, the key is how much consumers will accept. At the same time, the five-star core of the existing 40 stores, the Apple brand will also be highlighted (iPod) in the
Sell , And "the way to sell iPod iPod"?? In the North American market, Best Buy is Apple's most important sales channels.
At the same time, although Best Buy Asia president and chief operating officer Yang-ming will be Best Buy and Five Star's relationship as "mutual respect, mutual learning", and insisted that Best Buy is going to be in China " dual-brand "or even" multi-brand "the road, but for the slightly slow merger integration speed and add some new elements, but also the right time.
In fact, 3 months ago, which were the deal's final hurdle been cleared. February 21 this year, Best Buy announced that 185 million U.S. dollars to buy the remaining 25% stake, to complete a wholly-owned Five Star. Five Star also will place high-level upheaval: the founder Wang Jianguo, vice president Xu Xiuxian, Bian Huimin three veterans from the star; of the original Lotus Cheng, vice president of Five Star days and was appointed Chief Operating Officer and Chief Operating Officer, and Wang Jianguo The only team left Wang Jian, China, Best Buy will become the vice president and president of Five Star Retail.
The drastic changes within the same alarm in Five Star. General Staff and even the kind of "accident" means feeling the change. In the same month the year at the Five Star Five Star Conference and the tenth anniversary celebration, by the recognition of the roles of the qualitative change? Two general staff because "for the sake of customers," the company gained recognition awards. "In the past, these awards has been awarded to the best region sales manager." A five-star staff impressed on the matter, "but this time feels quite different."
Deeper "different", even pleasant surprises followed. March, Five Star began the implementation of the retail industry-funded home appliances rare "day weekend." And Jian-Guo Wang in office, not in favor of the two-day weekend, in his view, would reduce the workweek from six days to five days, the equivalent of the human cost of upgrading the 1 / 6. And, in Nanjing, the headquarters of Suning and five-star, Suning Wang will be as a reference, and in the Suning Appliance [15.09-0.92%], the staff can not only rest day a week, overtime after 10 pm, is commonplace. "Before we are shouting 'Down with GOME, Suning down'," the Five Star, a top executive of the "Global Entrepreneur" said, "but after the Best Buy came in, there will be no. This vicious little more of the situation As we all work, quite happy. "But he also acknowledged that Wang's hesitation on this issue is understandable.
Fact, to the remaining 25% stake in Best Buy have been patiently waiting for nearly 3 years. Although the initial acquisition in 2006, both Best Buy and Five Star had signed up to spend four wholly-owned acquisition agreement, but now, this time apparently been pushed forward a year.
Today, Best Buy seems to be no reason to wait any longer. United States performance drop, so that the retail giant had to move overseas, the strategic center, while China is undoubtedly the first choice. Moreover, China's home appliance retail industry has experienced
GOME Electrical Appliances
[1.120.00%] Huang Guangyu, founder of the survey of the troubled times, the market gap can not be ignored? Is indeed the case, a wholly-owned by the completion of the five-star, Best Buy to become the third largest home appliance retailer in China, but the United States and the National Suning still a considerable gap. I am a professional writer from Components Electronic suppliers, which contains a great deal of information about wholesale markers , friction tape, welcome to visit!
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