Jian-guo Wang: Best Buy Profit Model And The Different National Chain – Best Buy, Five Star,

12 16, Overseas Building, Nanjing Zhongshan North Road, Five Star Headquarters.

Winter sun hit the face in Wang Jianguo, the very officials businessmen look of modest temperament, his entire 8 years in this office, today, is he single-handedly founded Five Star 8 birthday. 8 years, he maintained the same habits, the daily noon to Wutai Mountain Sports Centre swimming, “This is the most effective way to maintain energy.”

This habit does not change because of his status change.

In May this year, the world’s largest home appliance chain giant Best Buy (BestBuy) joint venture with Five Star, Five Star Wang Jianguo from the previous majority shareholder into the current professional managers. For the growth of Five Star, Best Buy, said the high level of recognition, now WANG Jian-guo Five Star status is still the chairman, president and chief Ren Baisi also bought Asia Pacific senior vice president.

In May this year announced a joint venture with Best Buy since, Jian-Guo Wang has not received any media interviews, for the awful chain of domestic appliance industry’s most dazzling marriage, outsiders still can not understand the two sides met, first love and even honeymoon all seem very mysterious. Recently, Wang Jianguo, Chairman Five Star reporter’s interview, dwell on the details of bilateral cooperation, such as Best Buy Shanghai shop hot spots.

Lightning love Last October, Jiangsu Yurun another private enterprises listed in Hong Kong, as chairman Zhu Yicai Yurun friends, Wang Jianguo attended the listing ceremony in Hong Kong. When a reporter asked the five-star listed in Hong Kong Jian-guo, Wang laughed off the question.

“Was still wavering, Five Star in the end is to the local market, or the introduction of strategic investors.” Jian-Guo Wang bluntly, everything depends on the future development of enterprises.

“Is always the bottleneck of the bottle top, the Chinese home appliance chain industry is not the core of the competitiveness of the capital, listing will bring in cash flow, but not to Best Buy with 40 years of management experience. This is to take money do not come, it just may be the future development of enterprises need something, we want to seriously do the business, not for personal gain and loss. “

By the end of April this year, five-star to get the Ministry of Commerce, Best Buy and five-star joint venture approval, Five Star’s management by the previous holding into Best Buy Holding.

“Between both parties for several years, but the real negotiations is a matter between a few months, talk about fast! They saw the five-star all the data, we understand, and agree with the five-star low-key and pragmatic style. “

“I took a five-star all the material, a thick pile, go to Best Buy headquarters in negotiations; The results showed that they were prepared on a thick pile of documents the five-star, the star of China’s home appliance chain, they are studied, and even with that in Shanghai, Nanjing different spending habits, and the Kunshan Nanjing are not the same, and these are all reflected in the form of data. “

It is reported that during the negotiations, Best Buy hired a leading international accounting firm, law firms and other intermediary agencies to a strict five-star all-round investigation. 10 days around the Spring Festival this view, the two sides have been negotiating continuously in Shanghai, due to the time difference with the United States and other reasons, negotiators often through the night, staying up back-office personnel should be prepared with a large number of materials to final finishing of the material how much one person.

About the most critical time, Wang Jianguo and often stay up late, had to rely on coffee refreshing. Five-star style has been effective recognition of Best Buy.

“Joint venture, the star of the procurement system into Best Buy’s global sourcing system to ensure that the five-star can get Nokia, Motorola and other global suppliers in China, a strong minimum entry prices of goods; In addition, Best Buy all the management experience are open to the five-star, five-star buffet so you can have a choice as to use. ” BOLA TANGKAS