Best Buy will completely sell its business in China

Following last year's exit from Europe, global electronics retailer Best Buy was recently exposed to be considering selling or partnering its China operations to better focus on the U.S. market.

As early as February 2011, Best Buy announced the complete closure of 9 independent brand stores in China, all of its operations in China to China for the acquisition of the acquisition of Jiangsu Five Star - which was once considered Best Buy "Brokeback survival ". The current Five Star CEO Zhou Meng Best Buy China president.

Best Buy currently has only two business brands in China: Five Star Appliance and Best Buy Mobile. According to "IT Times" reporter learned that Five Star Appliance just requested a French design company at the end of last year to integrate the two business brands in this year's renovated and newly opened storefront, the opening of a new corporate visual identity system (VI): The main colors from the original green to Best Buy logo of the blue, in the original "Five Star" logo in the upper right corner, add "Best Buy Mobile" Logo. Informed sources, the design costs reached one million level. At present, two new stores in Wuxi and Nanjing have now been opened for use in this new image. Five Star Appliance said this year it will upgrade its image of 11 stores in total.

However, across the Atlantic, affected by the impact of e-commerce, Best Buy is losing ground in the United States headquarters in fiscal year 2012 loss of more than 1.3 billion US dollars. Best Buy is brewing within the transition. Hubert Jolly, the CEO who came to office in late 2012, has proposed a "blue newborn" plan to cut costs by reducing staff and shutting down shops. Now selling China business and focusing on the United States business, can be considered to meet investors expectations.

Obviously, Best Buy's Chinese business did not do well. Line by Suning, the United States pincer attack, Five Star currently only in Jiangsu, Anhui and other second and third tier cities in preparation for "downsizing", online business began trial operation late last year.

Three years ago, the customs clearance incident has so far failed to fully clarify. Xujiahui in Shanghai shopping district, Best Buy had opened here in the country's first store, later also became China's retail headquarters. 3 to 6 floor, more than 8,000 square meters, the site bought by Best Buy, but so far not rent or sale, big "Best Buy" Logo landscape still, the evening will be normal light, although the door closed, but as if it Never walked Passersby see this Best Buy can only marred "local tyrant."

Recently, "IT Times" reporter once again entered the Best Buy, I saw a "ruin", put a number of old computers and other digital products. "In recent years have been wasted, vacant." A security guard sigh.

In three years, there are rumors that it will be opened again, but then it will be gone. A head of the building property company said that Best Buy's U.S. headquarters has always had "very good ideas" and new arrangements, but the idea has never been implemented.

Chinese market, Best Buy did not want to give up the "face."