2011 2 22, Nanjing, the world's largest consumer electronics retailer Best Buy announced its latest China strategy: Best Buy will focus on the future profitability of the retail platform, with development, major investment to compete for Five Star Appliance Chinese market. Meanwhile, in 2011 (that is, fiscal year 2012), Five Star Appliance in China to open 40-50 new stores, new five-star leadership team also announced the same day.
Five Star is headquartered in Nanjing, China is rapidly growing consumer electronics retail market leader, with good business performance and market reputation. Five Star will be integrated and the introduction of Best Buy's advantages in the retail industry to better development and expansion in China.
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Buy Asia Pacific Tang Sijie (Kal Patel) said.
Jian Wang as CEO of Five Star diverse team of professional leadership chain
versed in Chinese Wang Jian, 48, was appointed vice president of Best Buy, Five Star CEO. Jian Wang is a founder of Five Star, proficient in the Chinese home appliance retail business. He set up in 1998 in Jiangsu Five Star Appliance Co., Ltd., and served as executive vice president. Responsible for retail sales in 2001 to build five-star system, and is also the first store five-star general manager of Shanxi Road store. Since then, Wang has taken charge of Five Star's sales, chain development, human resources, operations, services, and other important functions, and led a five-star development in the course of previous major change and decision-making. In 2009, Best Buy, Five Star was acquired, by virtue of the Chinese home appliance chain industry and deep understanding of Five Star, Five Star, he retained the retail president, vice president of buying Chinese worried Renbai Si. Prior to joining Five Star, Wang Jian, Jiangsu Province, Department of Commerce served as Deputy Director of Personnel. After the sole, Wang led the team to innovate change, committed to improving the store experience, management capacity and staff, creating a superior performance.
combine the advantages of five-star. We believe he will able to lead the Five Star board of a new peak, to achieve Best Buy China's strategy,
Five Star Jian led by a core leadership team composed of seven new vice president, is a multi-professional team. Where Po Huang Shou, Xue Qing and Xu Xiaoming, vice president respectively of the three first, second, third, General Manager, assists the President in managing the daily star seventeen operating divisions. The other four were in charge, vice president of supply chain Song of magnesium (Jason Song); charge of the market and operated King Sing (Adrian Jing); in charge of human resources and administrative services of the million Joan (Joan Wan); and in charge of financial and information Chief Financial Officer Lei Yonghui (Dennis Lei). Five Star Team members of the new leadership in the development of five-star chain of elite circulation decades of home appliances, but also from professional managers of foreign enterprises. They are not only familiar with home appliance chain industry has gone through successive Five Star changes, continuous learning and innovation, both strong leadership and expertise.
Five Star, the former chief operating officer Cheng days (Joseph Cheng) in the past two years, act in harmony with Wang Jian, well after the completion of Five Star funded the transformation and integration efforts, he will bear Renbai Si Vice President of Business Development in Asia Buy, Best Buy is responsible for new business development work in Asia.
Five Star full speed in 2011 nearly fifty new stores, Best Buy
its China strategy, focused on the Five Star, and has increased its investment in Five Star. the main expansion in China, is to better integrate into the Chinese mainland, to enhance the shopping experience of Chinese consumers,
According to the latest development plan in 2011, plans to open five-star 40 to 50 new stores, which will make the Best Buy stores holding the Five Star Appliance in 2012 fiscal year reached about 210. At present, the Five Star stores mainly located in Jiangsu, Zhejiang, Anhui, Shandong, Henan, Sichuan and Yunnan provinces 7. The Best Buy Asia Pacific Tang Sijie, said:
addition to accelerating the pace of development, the star will further optimize the product structure. This year, will focus on expanding 3C five-star business model, not a simple marketing, but to closely combine the latest technology, integrated provider of resources to provide consumers with the best solution, to be the best provider. In short, five-star for the first time made in China 4A model, is to help consumers anywhere (any location), anytime (any time), anybody (anyone) with anything (anything) to experience the enjoyment of modern technology. Enjoy the latest technology and products. This is the opportunities for five-star point
operation to further improve service quality.
made by the Chinese model into the retail reuse Five Star Appliance Best Buy China's domestic
strategic adjustment was made based on Five Star's outstanding performance over the past few years, the five-star mode is easier to integrate into the local Chinese. In 2006, Best Buy through the acquisition of Five Star Appliance, China entered the home appliance retail industry. Five years, Best Buy has always Five Star Appliance in China as the main competition arena, the strategy has achieved initial success. Five Star Appliance, China currently has 168 stores in China's Yangtze River Delta region has been in the lead. Stores to maintain double-digit annual sales growth over the growth, while the five-star superior performance is the total number of stores in the case of almost no growth, achieved by improving the quality of operations. In early 2010, Five Star for outstanding performance was awarded the Best Buy headquarters,
Best Buy as a major force in China's strategy, Five Star will continue to Best Buy and other European and American advanced management ideas and models and the actual needs of Chinese consumers, the combination of East meets West, to better meet consumer demand in China since 2006 to learn about the exchange has been in continuous progress. This year in March, Five Star turn management of the United States more than 30 Best Buy retailers to participate in College study.
Wang Jian said, proven, Chinese consumers are very like. Five Star, Best Buy will continue to operate such a good idea and the actual needs of Chinese consumers, the combination of East meets West, to better meet the needs of Chinese consumers, For example, corresponding to the unbiased shopping guide, Best Buy, Five Star has a , one-stop shopping. Customer satisfaction is currently up to 90 points. In addition, Five Star has also approved the creation of experimental stores, try prevalent in China to further reform of the retail structure for mobile phones, digital and other specific category, and abolished the Purchasing Guide from the manufacturer-led sales model, and the staff of store divided into two categories, half of them do not get sales commissions at a fixed salary of the five-star staff.
face a highly competitive market, Five Star also voluntarily organized a number of innovations, and affect the U.S. Best Buy stores. For example, in May, eleven major holidays such as Now, this way of booking sales in the United States has begun to Best Buy stores in the promotion. Tang Sijie that they will be more from China's experience to the stores in the United States. Tang Sijie also said that because Best Buy customers growing proportion of low-income, and who are often immigrants, so Best Buy is preparing to launch a new exploration, according to the five-star style in the United States opened an electronics store, as a . The store aims to attract those who
appliance industry, said 2011 is the %, China's domestic appliance market will usher in a new round of rapid escalation of the consumption structure and volume of products updates, the domestic market consumption potential. Best Buy, choose this time to quickly adjust the China market strategy, focusing on the development of Five Star is a wise move. Five Star as a local enterprise to understand the Chinese market and Chinese consumers, which Best Buy quickly seize market share in China is obviously very helpful.
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