Suning, 15 Years Earned 2.5 Billion Wealth Legend: Part 2

Net profit of 10 million a year business

Recalling Zhang Jindong 15 years to create wealth experience, the "fast track" has been accompanied by its around. Especially on the first year of intensive sea millions of billionaires, it seems dropping a hint of its future success.

In 1984, Zhang Jindong graduated from the Department of the Nanjing Normal University, Nanjing Gulou District entered a belonged enterprises. With sharp eyes, Zhang Jindong, away to contract a number of air-conditioning installation works, received 100,000 yuan venture capital. In 1990, Zhang Jindong amazed everyone in the eyes of the resignation of business, a franchise set up a small air conditioning wholesale companies - Suning pay household appliances.

Air conditioning also is a luxury at that time, the profit is enormous. Zhang Jindong seize the opportunity to go on to the first year of the 60 million yuan. Today he still remember 1991 mission Shenzhen, a supplier to the banquet he said: "Now is not rare millionaires, billionaires Shenzhen has been the tens of millions." After listening to this, Zhang Jindong just silently drink a glass or two of wine , but in their hearts they pleased: I, too, have earned 10 million a. Then only 28-year-old Zhang Jindong.

At that time the eyes of the Nanjing large state-owned shopping centers, halfway reach the air-conditioning industry of private enterprises Suning is "otherness." Zhang Jindong while in the service and price, and have obvious advantages, but also lead to a great shopping centers were dissatisfied. In 1993, "eight major shopping malls" joint air-conditioning war launched to Suning attack.

"At the time we opened a double gatehouse agents products, like wedding held in the home, I am responsible for the eight major shopping malls are invited. Unexpectedly round I took office floor, the eight major shopping malls veterans leave the hall together, and then claimed eight family reunification will be unified procurement prices, if suppliers are doing to the air-conditioning manufacturers developing, and they will completely blockade the brand. Suning but not overthrown, but a war fame! "Zhang Jindong has recalled, still very proud.

To combat this is the first time China's household electrical appliance industry appeared in a seller's market "price war" is also planned economy and the market economy a fierce collision. But Suning eventually become the winner in this war: air conditioning with parity advantage when sales reached 3 billion, it became the nation's largest air-conditioning distributor. Similarly, six years later, when taken in Beijing Gome layout of the country, the first stop in Tianjin, suffered "Ten Shopping Center" blocked. That campaign ultimately use the same large shopping centers failed.

Link:
Suning, 15 Years Earned 2.5 Billion Wealth Legend: Part 1
Suning, 15 Years Earned 2.5 Billion Wealth Legend: Part 2
Suning, 15 Years Earned 2.5 Billion Wealth Legend: Part 3