In late August, the ownership of Sogo Department Store in Causeway Bay was officially announced, and the winner was ‘Jiahui International’.
Jiahui International acquired the Sogo Department Store in Causeway Bay and the operating rights of Sogo Department Store at a consideration of HK$3.65 billion.
The price is not high, Hang Lung even offered a price of HK$4 billion, but they only want to buy the SOGO department store, which means that after buying the building, they will close the SOGO department store. Obviously, this approach does not comply with the regeneration procedures of the Japanese headquarters.
Although you can get hundreds of millions more Hong Kong dollars, it is a one-time buyout.
For a time, the media began to frantically explore the origins of the company 'Jiahui International', and it soon became clear to the world.
People started talking about it.
"This Li Jiaxin is so favored!"
"Yes, last year I spent a huge sum of 1.1 billion to buy Dongying Building and renovate it; now I have invested in Jiahui International, which is probably another investment of more than one billion."
"What is equity participation? Just look at the name 'Jiahui International' and you will know that it is taken from the names of Li Jiaxin and Lin Zuhui. If you look at it this way, I am afraid that it is an industry that Lin Zuhui intends to give to others, and it is just a cooperation with Times Retail.
.”
"That makes sense! Mr. Lin Zuhui is really rich. These confidantes are all worth a fortune and live in super luxury villas."
"It's a pity that I'm not a beautiful woman, otherwise I would have posted it!"
"Haha, don't you have a daughter?"
Lin Zuhui was once again discussed a lot by Xiangjiang citizens, who all lamented his strong financial position and his generosity towards women.
But Lin Zuhui himself didn't feel the buzz outside. Even if he knew he was famous, he wouldn't care.
With a net worth of around US$80 billion (publicly), he is the richest man in the world, and several of his close confidantes are worth a lot of money. This is perfectly normal.
.......
September.
Central, LEIT Building.
Chen Shiwen, president of LEIT Group, and Li Zhenlong, president of Xtep, walked into the boss's office hand in hand.
"boss"
"Well, sit down."
After the two sat down, Lin Zuhui asked: "How is Xtep developing in the mainland?"
Li Zhenlong immediately sat up straight and then reported his work to Lin Zuhui. Executives who are familiar with Lin Zuhui know that when the boss summons you, you must do your job well and don't waste the boss's time when it is time to report.
"Xtep's development in the mainland is very smooth, with an annual growth rate of more than 40%. Last year, our sales exceeded US$60 million. This year, our sales are expected to surpass Li Ning and become the champion of Chinese-owned sports brands in the mainland...
.”
Li Zhenlong's report was very detailed, but he grasped the main points. Within ten minutes, Lin Zuhui had a complete understanding.
In fact, although Lin Zuhui rarely does such sub-brand work, Xtep's development strategy was completed under his guidance. Coupled with the strong support given by LEIT Group, Xtep only took more than four years to complete the development of Li Ning.
transcend.
In terms of marketing: Before the 1996 Olympic Games, Xtep signed Sun Wen, Kong Linghui, and celebrities from Hong Kong, and used cultural and sports stars to promote it, and shouted "Xtep, extraordinary feeling", which is even more catchy.
Moreover, from the beginning, Xtep used a large amount of money to build up its popularity, including advertising and sponsoring sports events.
In terms of quality: Xtep has its own R&D room from the beginning. Although it has no particularly outstanding technology in just over four years, it is still much better than domestic copycats.
Management, style...etc., these are not comparable to immature domestic companies, so Xtep's development is particularly fast.
Lin Zuhui nodded and asked: "How about the contract with table tennis player Wang Nan?"
Li Zhenlong immediately said: "Last year, we completed the six-year contract signing!"
It is not surprising to the two subordinates that the boss knows about mainland sports stars and is even optimistic about sports stars. After all, Olympic athletes come to Hong Kong every year, and the boss also gives rewards and interviews.
Lin Zuhui's intervention in such "little things" as endorsements is something he values very much. In his view, the success of a sports brand is inseparable from celebrity endorsements, technical quality, and marketing management. As long as it is done
With all these, it is impossible not to create a successful sports brand.
In fact, before 2012, domestic customers did not pay much attention to technology; but with the prosperity of the domestic economy, people began to have great requirements for the patented technology of sports brands. This is the reason why Anta surpassed Xtep in the previous life.
The research and development ratio of domestic sports brands has always been around 2%, because in everyone's opinion, customers do not understand technology anyway, and it is not cost-effective to invest so much. This may seem like no problem, but in fact it has already sown bitter consequences.
Xtep, a subsidiary of LEIT Group, set its research and development expenses at around 5% (accounting for turnover) from the beginning.
The reason for this is because Lin Zuhui knows that Xtep is just a brand he has deployed in the mainland. He will acquire an international sports brand to realize his dream of a sports brand.
After all, Lin Zuhui has an advantage, which is endorsement, which is simply a bug.
Lin Zuhui said to Chen Shiwen: "How is the situation at Fila?"
Chen Shiwen knows that the boss has been paying attention to File, which means that File has always been the boss's target.
"The turnover has declined sharply for three consecutive years. Last year's entry into the luxury goods field also ended in failure, and investment this year also failed. Therefore, Fila's market value is only a little over 400 million US dollars, and it continues to decline."
Lin Zuhui nodded, having already decided to start the acquisition.
However, he does not intend to let LEIT Group acquire it, but intends to let Barings Bank acquire it.
After he builds Fila into the world's third sports brand, he will then inject Fila into the LEIT Group. In this way, Lin Zuhui is equivalent to increasing his stake in the LEIT Group, which is more in line with Lin Zuhui's personal interests.
At present, LEIT Group sells its wine business and focuses on dozens of brands such as JeansWest, Giordano, Crocodile Shirts, Xtep, IT, Lukfook Jewelry, Nature Hall, Ouchi Secret Agent, etc. Among them, JeansWest has the fastest development speed, with 400 stores.
, dozens more than Uniqlo.
This chapter is not over yet, please click on the next page to continue reading! LEIT Group’s profits are also very good and are expected to exceed HK$4 billion this year.
Although the LEIT Group has grown rapidly, Lin Zuhui can see the crisis, that is, the rise of mainland brands and the threat of Uniqlo in Asia. Of course, the LEIT Group is known as the "Hong Kong Stream Group" and relies on the Hong Kong Stream to compete in Asia.
It's an advantage everywhere.
This is the influence of port flow, which can drive tourism, retail, clothing industry, cosmetics industry and other peripheral areas.
"Don't worry about Fila. Even if it is an acquisition, it will be handled by my subsidiary Bahrain Bank. Maybe there will be opportunities to merge into the LEIT Group in the future, but for now, the LEIT Group is still focusing on building its existing brand."
Although Chen Shiwen was a little regretful, he immediately said: "Okay, I understand."
........
London, Canary Wharf.
Barings Bank, Headquarters Building.
Today, Barings Bank's assets under management have exceeded US$60 billion, and it owns two private equity funds - both made by Lin Zuhui (Hilton, Gucci). It has become a leader in investment banking and is well-known in the world.
Barings Bank has four main businesses: corporate private equity funds, real estate funds, marketable alternative asset management, and financial consulting services.
Of course, Bahrain Bank also has a certain amount of commercial banking business, with a deposit limit of about US$2 billion, and it also conducts commercial banking services such as loans; it also has its own corporate investment business, such as investments in San Miguel Group, Samsung Electronics, etc.
Barings Bank has 12 senior investment managers, 72 investment managers, 72 investment consultants, and thousands of employees.
To outsiders, it doesn't look like a private proprietorship at all, because Barings Bank's business is very large.
At the same time, many European and American public funds can be safely managed by Barings Bank; Bahrain Bank is best at the 'real estate fund' business, after all, there is a Lin Zuhui BUG.
There has always been Lin Zuhui's office at the headquarters of Barings Bank, although he doesn't come often.
On this day, Lin Zuhui came to the headquarters of Barings Bank in London and met with Andre. Rooney, a senior investment manager, was also present.
"Has the information investigation been completed?" Lin Zuhui said directly.
Rooney immediately said: "The investigation has been completed! Fila is currently experiencing a sharp decline in performance, with a market value of 420 million U.S. dollars, and the prospects are not optimistic..."
After listening to this, Lin Zuhui said: "Are you confident that the acquisition will be successful at US$450 million?"
Rooney immediately said: "It's not a big problem! After all, if the boss is willing to wait another year, the acquisition can be completed within 400 million US dollars."
Lin Zuhui said: "That's not necessary. We acquired Fila not to sit back and watch Fila's performance continue to decline, but to reverse the downward trend and build Fila into the world's third sports brand."
For a time, the pressure on Andre and Rooney increased greatly. The boss's ambitions were not small, but they were the ones doing the work.
Nike's market value is more than 14 billion U.S. dollars, while Fila's is only 400 million U.S. dollars. At its peak, Fila's was only 1.6 billion U.S. dollars. There is a huge difference.
Rooney could only say: "I will look for an excellent CEO and recruit excellent talents to reshape Fila."
Lin Zuhui nodded and said: "You only need to make acquisitions while recruiting a professional manager from the United States. He must be experienced and have outstanding performance to become the CEO of Fila."
"OK!"
"The acquisition status will be reported directly to me at any time. I am very concerned about this matter,"
"Yes, boss."
The twelve senior colleagues of Barings Bank also include President Andre, Vice President Harold and Liang Botao. These twelve are equivalent to partners in other investment banks.
After Rooney left, Lin Zuhui listened to Andre's work report and gave some of his own analysis.
"When the Internet bubble bursts, U.S. commercial real estate will also be greatly affected. Therefore, Barings Bank's real estate fund will first suspend investment in the U.S. market."
Andre naturally admired Lin Zuhui, so he immediately said: "Okay."
In fact, Lin Zuhui is avoiding the impact of the September 11th incident next year. According to his estimate, after September 11th, US real estate will fall by at least 20%, so there is no need to touch it in the past year or so.
Keep the funds and hunt for the bottom at the end of next year to get a higher rate of return.