The first store of Xinya 99 was established in the mid-20th century. Although it has been reorganized into a joint-stock system, the temperament of the state-owned time-honored brand has not changed. It insists on the steady and heavy traditional department store route and is extremely insensitive to emerging consumer carriers. It was not until recent years that it was awakened by the continuous decline in sales, and spent a lot of money to hire professional managers and began to embark on the road of transformation under the impact of e-commerce.
Henry Gu seemed to understand what he heard. Huandong's market positioning is international brands and young fashion, and it is committed to creating a "third leisure space" for consumers in addition to work and family. This is also the mainstream transformation direction of most shopping malls in recent years. Even if Xinya 99 wants to follow this routine, why is it focusing on Huandong?
"Do you know who is the current decision maker of Xinya?" Blake Lu asked.
Henry Gu nodded: "Zhong Yueshan." He was in his early 40s, the golden age for entrepreneurs, and a top student at the University of Pennsylvania Business School. Whenever he appeared in the media, he was always gentle and meticulous. He looked very kind and honest, but he was very drastic in his actions. It was also because of him that New Asia 99 was able to be pulled out of the flood of large-scale store closures in the retail industry, and he was well-known in the industry.
"When he was first promoted to CEO, he came to City S several times, hoping to join forces with Huandong to help Xinya get out of its predicament," Blake Lu said, "but in the end, for various reasons, the deal fell through."
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