Yintai department Store first electric business division: Betting on multi-business strategy

Newspaper reporter Chen Shijun Hangzhou report

March 20, Zhejiang's largest commercial group, Yintai Department Store Group Co., Ltd. was officially renamed as "Yintai Commercial Group Co., Ltd.". After renaming, under the brand of Yintai Commercial Company, Yintai department store, Yintai Shopping center and Silver Thai Network three great cause state brand will develop with product.

On the same day, Yintai department store (01833. HK) also released its 2012 annual earnings report. Relevant data show: The company reported income from 2011 to 3.117 billion yuan increased to 3.907 billion yuan, an increase of 25.3%. In terms of profits, the owner of the parent company should account for an increase of 972 million yuan in profits, up by 18.4%.

"At present, the proportion of three industry, department stores accounted for greater, after all, done more than 10 years, sales base is relatively large." The future hope that the "troika" can be developed at the same time, three of the proportion of the industry can gradually close. Shen, chairman of the Yintai Group, told reporters.

In this silver-Thai announced the development of the three great cause, by the silver-Thai network composed of the current volume of electricity is the smallest, only account for about 4% of Yintai department store sales, distance from the company to the department store, shopping malls neck to side with the goal is still wide gap.

By the end of 2012, Yintai department stores and management of the total store sales of about 16.3 billion yuan, asset size reached more than 21 billion yuan. Direct proprietary stores 30, are being built in the department stores and shopping centers about 20. The company is vigorously developing the electricity business, meanwhile, a large amount of funds into the new store development speed has not slowed.

Chen, chief executive of Yintai department store, responded that the bank's current development rate is much faster than other companies. "In fact, the electrical business and the store are not separate, the core is to do business." There have been a lot of concepts in the industry before, and eventually we thought that we would merge into a universal channel. What we need to do is to get through the customers online channels, the future as organic integration, rather than fragmented. In this regard, with a large number of stores and experience, Yintai has its own advantages. ”

In addition to the Thai side of the hope that in a relatively short period of time in various stores to apply new technology, gradually achieve the commodity line through and effective interaction outside, in late January this year, Alibaba Group announced the joint industry enterprises, capital and a number of financial institutions to build intelligent logistics backbone network inside known as the "Earth Net" CSN. Among them, Yintai group Shen to be the CEO of the project.

Shen said Ali and Yintai were the main shareholders of the project. The future of the great development of the electric business will be unstoppable, this is to prepare for the bottleneck of the electrical business, with a view to the electrical and traditional services closer integration, play Yintai in Jiangsu and Zhejiang region and the advantages of the national chain, the project is now in full swing to advance.

"It has been estimated that the total amount of electricity will exceed 20 trillion in the next 10 years, with retail sales exceeding 10 trillion per cent, which is not so high at this stage," he said. And to do e-commerce, can not be separated from the entire intelligent logistics system development. Now domestic logistics more traditional, there are many problems, if this situation may be difficult to support the future of such a large volume of sales. "Shen said.