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17 billion privatization delisting after Yintai and Ali to explore new retail
As Zhejiang's largest department store chain, Yintai who has been with the first person to dare to be the first gene, is the first batch of domestic embrace the Internet one of the traditional commercial retail enterprises.

17 billion privatization delisting after Yintai and Ali to explore new retail

Alibaba announced earlier this year, together with Yintai business founder Shen Guojun's wholly-owned company, to 17.7 billion yuan offer price to start Yintai privatization.

From the amount of view, this is Alibaba in recent years to implement the largest sub-line transactions, but also marks its "new retail" strategy and then the next city. May 19, Intime officially withdraw from the HKEx.

Unlock the shackles of the identity of listed companies, this old department store business transformation steps are bigger and faster. "After the privatization, the decision-making process faster, because not everything had to go to a contract, take a procedure.

There are back in the body of the KPI longer line a little, do not have to look at each quarter, you can report a longer period of time. "Recently, Intime business group CEO Chen Xiaodong in Hangzhou to accept the 21st century economic coverage, he told reporters on the latest progress of cooperation between Yintai and Ali.

The ship turned off Yintai and Ali's hand for a long time

The first Intime Department Store opened in 1998 in Hangzhou, the target group positioning in the high-end consumers. Up to now, Intime business in the country operating 29 department stores and 17 shopping centers, mainly located in China, second-tier cities, especially in the development of Zhejiang.

As a local department store leader, despite the deep plowing of Jiangsu and Zhejiang region for nearly 20 years, in Chen Xiaodong view, Yintai did not fully reach the target customers. "I think this is the way to touch the way. How to let customers know you, think of you, how to give customers reason to come here.Three questions are all under the line of shops are encountered, but also their chance.

"Ali likes and industry rebels together." Alibaba Group CEO Zhang Yong in March this year to attend the Yintai performance conference, once commented Yintai. Department store Happy Valley enclosure era is already gone, in the industry turning point approaching, Intime business decisive "catch" electric business giant.

Over the past few years, Alibaba and Intime's "intimate action" constantly, the earliest can be traced back to 2013 logistics cooperation, the two sides together to create a rookie network, Alibaba and Intime, respectively, 43% and 32% One or two major shareholders. In October the same year, Alibaba Group and Intime to achieve strategic cooperation, to explore online and offline (O2O) integration.

Since then, Ali, Intime will start in the O2O field of cooperation, including the introduction of Yintai Po, meow goods, meow Street and other offline line of innovative products, opened up the payment and membership system, while a number of Amoy brand settled in Intime.

The so-called new retail, or online line integration, in essence, is the "three links", that is, members of the pass, goods through, Chen Xiaodong told reporters that members of the pass is the most difficult, not difficult in the technical, but difficult to re-adjust the interests. "After we complete the privatization, Intime members and Taobao, day cat opened up in the second half of this year will be further and Alipay members get through."

Intime "touch net" has a long history, as early as 2010 began to test water e-commerce, launched B2C platform Intime network, but the business development unsatisfactory. In Chen Xiaodong view, the entity retail enterprises to build vertical electricity off the ring, will inevitably encounter more and more bottlenecks acquired costs. "It was the difference between the two," he said.

Reconstruction of Commercial Elements

2016 double 11, Alibaba Group CEO Zhang Yong for the first time that the new retail: is to use large data and the Internet reconstruction "people, goods, field" and other modern business elements, the formation of a new business format. "Format restructuring" sounds a bit mysterious, the new retail accurate definition in the industry has also been different.

"Today, many people ask me what is the new retail in the end? In fact, we are very difficult to say clearly because it is too new, if it is clear that not called the new retail and called the old retail." Recently, Alibaba Group CEO Special assistant, Lynx public relations official Yan Qiao in Hangzhou to accept the 21st century economic report reporter said that people, goods, field reconstruction, fell to the business point of view can be summarized as four aspects.

"The first is the brand of UniMarketing global marketing and consumer interaction; the second is the new path, that is, retail and village of Amoy; the third is the logistics level; the last line of all business forms, based on Ali's data capabilities, , To help the business structure under the line reconstruction. "Yan Qiao explained.

What is the performance of Ali's new retail? Reporter visited Yintai Hangzhou Wulin shop found in the martial arts Yintai C Hall 6th floor of the day cat aesthetics living museum, and conventional counter is different, there is no price tag, replaced by a dedicated two-dimensional code, With the brand flagship store prices, real-time inventory synchronization.

Chen Xiaodong told reporters that the customer can do a lot of things later, with the online line to get through, the data will be significantly rich dimension, the user portrait more accurate, enterprises can be based on accurate portraits, to the consumer to match the appropriate content. In other words, the future of consumers shopping, enter the shopping center of the moment, you can receive according to their shopping preferences, spending habits to develop the "shopping guide."

Chen Xiaodong also admitted that, for department stores, the biggest difficulty of new retail is the commercialization of goods. "The number of SKUs that the department store system faces may be 10 or even 11 digits, and the digitization is difficult, and if the three or five million SKUs are down for one year, Unreasonable. "

Chen Xiaodong said that Intime with almost zero cost way to complete some of the digital products, as to how to achieve "zero cost", Chen Xiaodong refused to disclose on the grounds of commercial secrets.

In addition to the retail main business, the commercial real estate is also the silver Thai Department of quality resources. However, Chen Xiaodong has said that the domestic commercial real estate model has come to an end, the real estate business will be more and more difficult, especially in the retail business.

"Retailers and suppliers can not be too much between the game, but should become a close consortium, the common service of the final party.I think this evolution is an inevitable trend, real estate rental profit model not far away." Chen Xiaodong said.
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