Chapter 486 Chongguang Department Store

Gates knew that Yang Xing had a company called Superstar Computer. It has risen rapidly in recent years and is the second largest computer company in China after Lenovo. Its product line is very special. In addition to the current mainstream desktop computers, its laptop R&D capabilities are even stronger and it often launches refreshing laptop products in the international market.

And relying on China's low labor costs and large-scale cluster production capacity, the cost-effectiveness of Superstar Computer laptops is very attractive, and sales in the international market are increasing steadily. Many electronic chain stores in the United States have also begun to list this brand from China. Now Superstar Computer not only produces its own brand, but also produces OEM for many internationally renowned computer manufacturers. It is a recognized computer production manufacturer in the industry.

As a partner of Microsoft, Superstar Computer is one of the few manufacturers in Asia that have pre-installed genuine Windows systems before leaving the factory. This makes Gates have a good impression of Superstar Computer. Now it is purchasing Windows Me on a large scale. Gates is of course curious. Compared with the MPP digital music player, smartphone and smart home system that Yang Xing brought out in the past, he thinks this must be a new thing that Yang Xing is going to launch.

Yang Xing really lived up to what he expected and took out a small laptop computer and put it in front of him, and then introduced it. When he finished the final price, Bill Gates, who had been storms in this industry, couldn't help but gasp. Then he realized that Yang Xing was dragged onto the pirate ship. This was definitely a huge subversion to the entire laptop industry!

Time has entered July in Hong Kong, and there are already a few signs of scorching heat around. The air is filled with the unique humidity and heat of the seaside city, which makes people feel sweating continuously, but it cannot completely evaporate when stopped on the skin, as if they are in a sauna, which is called "sauna day". Hong Kong major merchants who have prepared for a long time have turned on the indoor air conditioner to the maximum, allowing thin-clothed customers to feel refreshed and cool in it, and the time for consumption is greatly increased, which also marks the beginning of the most popular summer promotion season for merchants in the year.

But in front of the famous Japanese department store in Hong Kong, Sogo Department Store Causeway Bay, the largest department store in Hong Kong, was not as hot as summer promotions, and replaced by a doomsday scene. Yang Xinghe, who has also been a storm in the Hong Kong department store industry, was standing outside the store, queuing a long queue to buy Sogo Department Store clearance processing, and Long Wai shook his head and sighed. Wai Dao said with emotion: "It takes several generations to build an empire, but it may only take a few days to see it fall."

Kazuo Kazuo Kazuo empathized with it because he had experienced this tragic scene. In 1998, his Yakkai Department Store was forced to declare bankruptcy, and this scene was also staged. It was not because of the young man around him who came to rescue him, but he was really shuddered in his end. Although he has changed from a high-ranking president to a worker who is just the head of Xingfu Department Store under Xinghai Trading Group, his actual control rights have been higher.

Now Xingfu Department Store chain stores have expanded to almost every large and medium-sized city in China, and its overseas branches are no less than the most prosperous time when Yakkai Bank went bankrupt. The huge mainland Chinese market not only brings more than the growth in the number of stores, but also the rolling profits. In many cities, Xingfu Department Store often represents the city's highest-end consumption places. The spacious shopping space unique to Japanese department stores, gorgeous interior decoration and a wide range of products, especially thoughtful and enthusiastic humanized services, all of which offer vivid modern retail courses to domestic peers.

Backed by the big tree of Xinghai Trading Group, with its strong financial strength, Xingfu Department Store has been invincible in conquering cities and lands in China. Among them, the young man Hotan Ichifu has made a lot of contributions. After all, as long as he shows that I am the son of *** "Axin", mainland collaborators and officials will smile meaningfully, and the negotiations will naturally go smoothly. Now all the confidence he lost in the financial crisis has been found, and he is full of energy. He is grateful and respectful to the young boss around him who can be his grandson.

This time, he heard that Songgo Department Store, a 170-year-old veteran, was in business difficulties. When facing bankruptcy, he asked for action. He even came to visit Yang Xing, who had just returned to Hong Kong, and finally changed his mind to Yang Xing, who had just decided to suspend the large-scale foreign acquisition plan. He agreed to observe the situation of Songgo Department Store and consider whether to take action. So he and Ichifu Tian are now standing outside the Hong Kong Sogo Department Store to investigate the information.

"Songgo Department Store was established since 1830. It has developed from the original second-hand clothing store to the largest department store today. This brand is priceless after 170 years. East Asia still has a high level of trust in the brand. The Soong Department Store in Hong Kong is not closely related to the main store, with rich profits and high popularity. It set a record of monthly sales before the financial crisis in 1998. If we can buy it, we can form a network with the group's other department stores on Hong Kong Island. With the group's advantages in real estate and logistics, I am confident that I will regain the first place in the Hong Kong department store industry." Kazuo Wata introduced to Yang Xing endlessly.

Yang Xing looked at the huge scale of the Sogo Department Store in front of him, occupying 19 floors and almost a block. It is worthy of being the largest department store in Hong Kong, and he was somewhat tempted. Xingfu Department Store was developing smoothly outside, but its development in its headquarters in Hong Kong was a bit slow. Since Xingfu Department Store started with the acquisition of Daimaru Department Store, and later acquired Yakan and Daerong Supermarket and other companies all had a strong Japanese-funded corporate style. If we could win this time-honored department store, our business layout on the Hong Kong island would not only be complete, but also maintain a unified corporate style. It is not impossible for Kazuo Wata to think.

Ichio Wada just introduced his idea. He is a veteran who has worked hard in the mall for many years. The business philosophy of *** department store is also ahead of East Asia. He advised the group's upper-level team to build the flagship store of Xingfu Department Store with Hong Kong as the base, and based on this, unify the image of all its chain stores to shape the distinctive corporate image of Xinghai Trading.

Buying the Sogo Department Store in front of you as a flagship store is undoubtedly a method that is both effective and practical. Yang Xing had already acquiesced to Ichio Wata's suggestion in his heart, but he still asked: "Since Sogo Department Store is a century-old store, why did it fall into such a situation?"

Kazuo Wada sighed, "It's not the cause of the bubble economy. Hiroo Mizushima, the former chairman of Sogo Department Store, was arbitrary and expanded its operations during the bubble economy period. It established large stores in major cities in various places. The department stores under the group increased from 10 to 27 in China, 14 overseas, and the number of employees increased to nearly 10,000. After the collapse of the bubble economy, the decline in land prices caused the group's assets to depreciate, and weak consumption caused department stores to hover at a low level for many years. Sogo has experienced a year-on-year operating deficit, and finally overwhelmed."

"The most important thing is that after Sogo Department Store was in a business crisis at the beginning of the year, it wanted to save itself, and reached an agreement with many banks with business relationships to give up part of its debt rights. It also asked the government to come forward and use deposit insurance institutions to acquire and give up part of Sogo Department Store's debt rights, and wanted to survive the difficulties. Unfortunately, the plan was collectively opposed by the public opinion as soon as it was disclosed. The public strongly expressed this, believing that using taxpayers' money to rescue a company that was in a business crisis due to the dereliction of duty and stubbornness of the main leader is not only unfair, but also violates the purpose of the social management culture of ***, and there is a great moral risk. The government had to retreat. Without government support, Sogo Department Store would only be closed." Kazuo Wada obviously did a lot of homework and said it very well about Sogo Department Store's failure.

"How much debt does it owe?" Yang Xing said curiously, "Its total debt is as high as 1.87 trillion yen, 17.5 billion US dollars, which is the second largest bankruptcy case after Yamaichi Securities' bankruptcy after Yamaichi Securities." Kazuo Wada answered honestly, but he was afraid of scaring his boss: "Boss, you don't have to acquire all the assets of Sogo Department Store. It is not like Yamaichi Securities' acquisition. Sogo Department Store is now valuable overseas assets. And in the country, because of former president Hiroo Mizushima, Sogo has a bad reputation in the *** department store industry, far from being as good as Mikoshi and Takashimaya Department Store. It is recognized as a nouveau riche. So we only need to acquire stores in Hong Kong and ignore the *** company at all!"

Yang Xing looked at Kazuo Wata, whose face turned red with anxiety. He thought that the old man's character was really good. It was obvious that he was very loyal to the company. In fact, he was thinking about the company. "I am indeed not interested in picking up all the messes of Sogo Department Store. But our eyes should not be too narrow. The Sogo Department Store brand is quite appealing overseas. You see, in addition to Hong Kong, there is also a Sogo branch in Taiwan. Isn't that department store called Pacific sogo also a joint venture store of Sogo Department Store? I want to buy both Sogo and its 'sogo' logo. How about it as a sub-brand of Xingfu?"

On July 20, in the lobby of Star Yue Hotel in Hong Kong, the boss of Star Fu Department Store, who was once the target of many media in Hong Kong, Ichifu Hoda, was happy to announce that Star Fu Department Store chain acquired all asset stores in Hong Kong for US$500 million. Sogo Department Store Causeway Bay store will be renovated and will open as Star Fu Department Store's global flagship store ***. It also announced that it has acquired all trademark rights of Sogo Department Store for US$300 million, as well as equity in overseas companies such as Taiwan and Indonesia. The Sogo trademark will be operated as a sub-brand of Star Fu Department Store.

The Hong Kong industry reporters present were not very sad. Xingfu Department Store established its dominant position in the Hong Kong department store industry in one fell swoop, which also means that Japanese department stores that have occupied the Hong Kong market in large numbers since the 1960s and 1970s have completely failed, and the feng shui has changed. Now the Hong Kong market is the world of mainland and Hong Kong local enterprises.
Chapter completed!