The withdrawal of China Yimaide-CFE - ChineseMicroNews

The withdrawal of China Yimaide

South Korea finance Shanghai WAL-MART

diyicaijing· 2017-06-02 11:00:21

in China for 20 years, Yimaide supermarket chose to leave.

recently, vice president of South Korea's new world group chungyong Jin in South Korea International Exhibition Center (KINTEX) to visit the new world group job fair said after its Yimaide supermarket brand (E-mart) will all withdraw China market. This is easy to buy business in China will be closed out since the first high-level group to confirm. People familiar with the

anonymity told the first financial journalist, had been part of China E-mart stores for sale, which is currently on China only 6 stores, Yimaide Chinese business have been looking for a suitable buyer, market withdrawal China idea should be long-standing. As of press time reporter, said China Yimaide hand not to respond to the matter.

is not only easy to buy, Lotte, DIA etc. foreign retail giants are starting to spread China business news adjustment.

"gradually retreated nearly 20 years ago, I participated in the first batch of stores Emart to build, was very proud, in the late 90s, some foreign well-known Carrefour, WAL-MART, lotus, and other retailers have to enter the market Chinese Yimaide at that time, just unfolding, the market potential is enormous, everyone quickly occupied the market. "Once in the first in China to build the Yimaide Wu Kai (a pseudonym) told the first financial reporter recalled that foreign retailers of advanced concepts and management to promote the supermarket format stores area development in Chinese.

in view of the market in good condition, Yimaide was announced to open 1000 stores in Chinese market, then the selection of Shanghai nine hundred and Tianjin TEDA as partners, stores are mainly concentrated in Tianjin and East china.

"1000 stores plan certainly difficult to achieve, but the rapid development of the market, also in the China E-mart reached dozens of stores. "Wu Kai said, struggling, in order to improve the performance, Yimaide years ago decided to sell some China stores to return the funds.

2011, Yimaide decided to sell some stores, but these stores operating conditions at the time of the negotiations is not very uneven in quality, smooth, ultimately, East China 6 stores to 125 million yuan sold to Xinhua, Beijing area, 1 stores to about 20000000 yuan sold to Yonghui supermarket. E-mart stores operating area of 6000 square meters ~15000 square meters. At that time, the average price of view, Yimaide each store only about 20000000 yuan, while the average price of an investment market similar stores should be about 40000000 to 50 million yuan.

"at that time the operation situation was not good, the sale of stores can improve financial performance, to the South Korean headquarters an account.". And the sale at that time did improve the performance in china. Since then, Yimaide operating performance is still poor, and has been in contact and Yimaide parties related to the sale of Chinese stores matters, but had no suitable buyer. "Wu Kai revealed.

since the poor performance of the sale of stores and also difficult to find buyers, then closed shop stop strategy.

Yimaide to first financial reporters, after dozens of stores in China District, in addition to some stores sold, also closed some stores, some of the lease expires.

"in fact from the sale of stores closed shop to adjust, now only 6 stores, even shut down the 6 stores this year, equivalent to gradually withdraw from the market Chinese yimaide. "The insider said.

the The climate does not suit one. first financial reporter interviewed many learned, not easy to buy has been at a low ebb, once brilliant, especially in Shanghai, the first batch of stores, store performance was good.

China Yimaide area also have actively made the transition. Yimaide told first financial reporters, the sale does not mean Yimaide will give up China market, stop in order to better development, if there is a proper industry, Yimaide will not hesitate to sell to buy, in order to expand the territory of china. In 2015, China Yimaide to enter the electricity market, hand NetEase koala sea purchase settled, Tmall international official flagship store opened Yimaide overseas. According to the "

Shanghai Chain Management Association, 199 stores in Shanghai in the first quarter sales of 10 billion 100 million yuan, the average store sales situation, easy to buy at the average level, a quarter of its 4 stores to achieve sales of 200 million yuan, the average daily sales of more than $500 thousand per store. Unfortunately, just a few stores, Yimaide is not a climate. "Director of United Business Network Retail Research Center Zhou Yong pointed out. Why

Korea retail giants in China so embarrassed?

"Yimaide has been many of its The climate does not suit one. problem, management from South Korea, and some do not even retail professional background, management does not understand Chinese local consumer habits, many strategies for this development is not suitable for Chinese copy the Korean model. Market. "Wu Kai bluntly, the ROK staff are more conservative, they are difficult to change tactics, even if found the problem, it does not necessarily change.

of course, the impact of the electricity supplier, manpower, rent prices and competition have plagued yimaide. Compared with WAL-MART, Carrefour in moving frequently hundreds of stores, Yimaide is too small, it is difficult to compete with competitors.

May this year

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