Everyone who has had experience in decorating can be keenly aware that home hypermarkets are changing.
In the past, only home furnishing stores for furniture and kitchen brands began to have more and more formats: some have restaurants, children’s playgrounds, and some have cinemas, digital product experience stores, jewelry stores, and some in the store. Downstairs opened a box of fresh horses, sea fishing, and even some stuffed into a “small zoo” in the building, children can watch fish, cats and horses here.
All in all, although the transition is slow, it is more and more like a comprehensive Shopping Mall. Hypermarkets hope that every consumer can stay here for one more minute and spend more than one dollar – I am talking about the actual home.
After holding Alibaba, the family actually opened 80 new stores in the last year. For a heavy asset format with a large footprint and a large number of brands, this expansion rate is very alarming. On the basis of such expansion, compared to Red Star Macalline, the biggest rival who has already landed in A-shares, the home has always been seeking capital to support its transformation.
On October 17, Wuhan Zhongshang announced that the restructuring plan with the actual home was approved by the China Securities Regulatory Commission. This means that after undergoing mergers and acquisitions, restructuring, suspension and restart due to the equity freeze, the home has finally completed the backdoor listing and become another leading company in the A-share market after the Red Star Macalline. .
According to the announcement issued by Wuhan Zhongshang, the listed company will issue shares for a price of 36.55 billion yuan to purchase 100% of the new retail sales held by 23 counterparties such as Real Holdings and Alibaba. After the completion of this transaction, the controlling shareholder of the listed company will be changed to the actual holding, holding 42.6% of the shares of the listed company, and the actual controller of the listed company will be changed to the real controller of the actual family, Wang Linpeng, Wang Linpeng and his concerted activists. The total holding ratio reached 61.88%.
The news was announced in January, and the listing was completed at the end of October. The parental listing process of the nine-month parent has a lot of bumps. For the actual home. After entering the A-share market, the journey of capital migration can be temporarily suspended, but there is still a long way to go in the industrial transformation.
Backdoor listing, what is it?
In fact, in recent years, the home of the real family has been constantly moving. One of the most eye-catching is the $13 billion in financing last year. In February 2018, the actual home was awarded Alibaba, Taikang Life Insurance, Yunfeng Fund, and Jiahua Capital.The investment of 3 billion yuan is estimated to be 36 billion after the investment.
After earning such a large sum of money, the home is actually fast. Wang Linpeng, chairman of the House of Real Estate, said at the New Year reception at the beginning of this year that in 2018, the total sales of the home was 75 billion yuan, and the number of stores increased to 303, which is the largest number of stores and the best sales. year.
This is not enough. Actually, the family said that it plans to accelerate the chain layout from the first-tier to the fourth- and fifth-tier cities in 2019, and strive to open more than 100 new stores during the year. It is hoped that the number of stores will reach 600 in the next 3 to 5 years. In 8 to 10 years, it has reached 1,200.
As mentioned above, such a store opening speed is indispensable to the support of capital. However, Song Xiang, chairman of Jiahua Capital, one of the investors of the actual family, said in an interview with the investment network that “the listing of the home is not for financing purposes, but to capture the capital market highland as soon as possible.” Industry dreams.”
However, after having a listed company, there is a carrier for the subsequent financing of the home and the equity incentives of the team.
In addition, the “shell” borrowed from this listing will bring some other help to the home of the company. The official website of Wuhan Zhongshang Group Co., Ltd. shows that the main business of Wuhan Zhongshang is commercial retail. Also involved in commercial real estate, e-commerce, import and export trade and other services.
This kind of company background helps the home to complete the “home consumption ecosystem”. For this “consumer ecosystem”, the calibre of the home is to integrate small household consumption.
At present, the home has already introduced a variety of lifestyles in Beijing Lize Store, Guangzhou Tianhe Store, and Huanggang Store in Hubei (including the children’s playground mentioned above, box horse fresh food, cinema, etc., and even a small zoo. ), I hope to develop and utilize big data to create a “home consumption ecosystem.”
What is the “big consumption” of a real home?
After the introduction of Ali’s investment, the transformation of the home to the new retail has become a matter of course and more convenient. But the word “consumption” is bigger and contains more content than retail.
To understand the “big consumption” of a home, you must first understand the general predicament of the home industry today—
1, home consumers are getting younger and younger, they are more inclined to buy some furniture and soft clothes online, and the impact of e-commerce tide on traditional offline home stores is hard to resist;
2. Household consumption is a low-frequency consumption. It can be used for many years, especially for some fixed furniture, but the price is very high;
3, the real estate boom has subsided, the entire home industry is inevitably affected;
4. Due to policy reasons, the current renovation of new homes is a common trend. Many fixed furniture are purchased by openers, and home furnishing enterprises are turning to developers or Internet home improvement companies that provide a full range of customized services, thus bypassing traditional home stores. .
Under various reasons, in the past, home stores that were not willing to become e-commerce experience windows began to embrace e-commerce and open up online and offline. In fact, Red Star Macalline, the biggest rival of the family, reached a strategic cooperation with Tencent in 2018. In 2019, it turned to accept Alibaba’s strategic investment. After the investment was completed, Ali became the second largest shareholder of Red Star Macalline.
For the actual home, the introduction of high-end consumer retail formats and the transition to a comprehensive mall is the only way.
In 2018, Beijing Jinyuan Store introduced a variety of formats such as restaurants, cinemas, and fresh supermarkets, and delayed the closing time at night to nine o’clock. Compared to other home stores, business hours. Extend for one to two hours.
In 2019, the family actually opened a small zoo directly in the home of MALL in Beijing, named “MINIZOO·Happy Island.” The park includes aquarium viewing area, bird language forest area, rodent area, amphibious crawling area, Meng pet animal area, parent-child play, book bar leisure and other experience areas – at first glance, aiming at the parent-child scene, hope This playful child can “catch back” adult consumers who are abandoning the home market.
After completing such a transformation, the home actually needs to answer real questions.: Can consumers who are attracted by the catering, play and other formats can be effectively transformed into the purchasing power of household products? How big is the sales effect on the whole store?
However, now that the home has completed the backdoor listing, in the future, we have the opportunity to see the answer from the earnings report of the listed company.