subject: Himfr.com Reports Best Buy Plans To Open 4-5 Stores Next Year In China. [print this page] To stand still in 2009 almost the entire Best Buy Chinese companies, is planning a new round in the Chinese market to expand.
October 31 morning, Best Buy's first store in China - Shanghai Xujiahui store, Best Buy, a Chinese company executives told this reporter: "Next year, Best Buy to open in China 4 -- five stores, and will be the first out of Shanghai, in other parts of China shop. "that day, Best Buy Group and China Unicom jointly held a" iPhone (mobile Internet access) 3G and mobile 3GS official visit all of China's 100 Best Buy stores "ceremony.
Best Buy (NYSE: BBY) is the world's largest home appliance retail chain enterprises in May 2006, it China's fourth largest home appliance retail chain enterprises in Jiangsu Five Star Appliance Company into the arms of football. In February 2009, it acquired the remaining 25% of Five Star Appliance stake in Five Star Appliance Best Buy has become a wholly-owned enterprise. Two acquisitions, Best Buy invested a total of 369 million U.S. dollars, and thus won the Five Star Appliance in China, nearly 170 stores.
However, Best Buy branded stores in China's own journey has been stepped gingerly.
In January 2007, Best Buy was busy in Shanghai, Xujiahui area out of China's first stores. Although the opening of that year, 100 Best Buy stores to achieve profitability in Xujiahui, its sales in 1100 more than 100 Best Buy stores are also the world's top 50 rank. However, in the next 20 months time, Best Buy in the Chinese market but nothing happened, so the "Best Buy in China's inability to adapt", "shop like a snail's pace" and other criticism was once prevalent, the outside world and even " Best Buy China's defeat "," troubled "to describe its position in the Chinese market.
However, by the end of October 2008, Best Buy in China, a sudden acceleration.
In just 3 months time, Best Buy opened at the Shanghai New breath out of five stores. However, so far, Best Buy in China, all the six stores are concentrated in Shanghai. In other areas, own-brand stores so far Best Buy is still a blank.
"The ultimate goal shop, or to make money, if the supply chain was stretched too thin, they have been in a state of investment, our business would have been impossible to make money." October 2008, in the reporter's exclusive interview, the president of Best Buy China, YANG De-ming, Shanghai focused on the reasons for this interpretation.
That time, Best Buy China has made it clear to "out of Shanghai." "Beijing is also very important, Best Buy can not always do not go, but we we first do a business in the region, and to get to the other regions.
May be affected by the financial crisis, since 2009, despite the main rival Suning in Shanghai are expanding rapidly, but Best Buy has always been nothing, nor in Shanghai to open a store. At this point, "Best Buy lack of Suning, Gome advantage of such a scale, operating performance is not satisfactory" and saying, once again circulating in the market.
Today, Best Buy has finally declared it would take to start a new round of expansion, and the pace and together wishing to Shanghai.
"We are in the Chinese market has created a set of its own sales model, with competitors differentiated services, we have achieved the performance expectations of investors." 10 31, Best Buy Asia-Pacific Procurement Director Chen Wei-based acceptance of newspaper reporter, said, "in the first three quarters, our results increased 10%, while the first three quarter results is increased by 30%."
According to Chen Wei-oriented introduction, by the sole proprietor of Best Buy Five Star Appliance, the first three quarters of this year's results also synchronize their growth. "Five-star this year's bloom is also very good, up a lot."
Best Buy will give a good report card, with the background of China's economic recovery is closely related. Suning Appliance has just been published quarterly in three shows the first three quarters of this year, its total operating revenue grew 6.32%, net profit up 15.6%.
This undoubtedly increased the Best Buy in the Chinese market to expand lung power.
Next year, in addition to Shanghai, the 100 Best Buy plans to open a store, the Lazi Jiangsu, Zhejiang, Beijing or other places? "At present, not yet disclosed specific plans." Aforementioned Best Buy executives said the Chinese company.
by: himfr
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