Through the wealth life

Chapter 685
In the afternoon, Li Guangyu received a piece of news that made him unhappy. Carrefour and Wal-Mart joined forces in Asia.

At present, there are three major private retail supermarket groups in the world, Wal-Mart, Carrefour and Hengyu. Wal-Mart occupies the North American market, Carrefour occupies the Western European market, and Hengyu Supermarket occupies the South Korea, Japan, Baodao, Xiangjiang and Southeast Asian markets.

Now in Asia, perhaps the Hengyu Supermarket Group suppressed the two companies too hard, so the two originally hostile groups began to cooperate to jointly deal with the pressure brought by the Hengyu Supermarket Group.

Moreover, this time Carrefour and Wal-Mart are very confident about the two companies joining forces, and directly launched an attack on Xiangjiang, where the Lee consortium is based, hoping to directly tear the gap here and occupy the supermarket retail market in Asia.

As the Jardine Matheson Group is currently facing considerable pressure, the wellcome supermarket store they have been idle for half a year is currently leased to Carrefour and Wal-Mart at a relatively low price.

We must know that the layout of Wellcome Supermarket's stores in Xiangjiang is quite reasonable, and it is on par with Hengyu Supermarket Group and Watsons. If it is not for Jardine Group's financial resources, it will be quite difficult for Hengyu Supermarket Group and Watsons to beat them down.

Both Carrefour and Wal-Mart have their own markets as support, and their supply channels are also very rich. They are really not afraid of Hengyu Supermarket Group's price war.

The purpose of the top management of the two major supermarket groups this time is very clear, which is to drag the attention of Hengyu Supermarket Group to Xiangjiang and slow down their expansion in Asia.

Once the Hengyu Supermarket Group completely occupies the Asian market, it will inevitably burn the flames of war to their own market, and they will be more troublesome at that time. Instead of doing that, it is better to directly compete with Hengyu Supermarket Group in the Xiangjiang Market now.

For more than a year, the Asian business presidents of both Carrefour and Wal-Mart have been very aggrieved. Every time they open up a market in a place, they will face joint attacks from Hengyu Supermarket Group and local supermarkets.

However, their own power and capital mobilization are limited, and they are simply unable to compete with Hengyu Supermarket Group, resulting in successive failures in market development in various places.

Now their group executives finally realize the seriousness of the problem, and this time they will cooperate here to face the threat of Hengyu Supermarket Group together.

In the conference hall of the Mandarin Oriental Hotel, Victor Bill, President of Carrefour Asia, and Osford Jackson, President of Wal-Mart Asia, led their teams to discuss cooperation issues.

Victor Bill said: "Jackson, when I first came here to open up the market, I always regarded you as the number one competitor. I didn't expect that I didn't match up with you, and I was defeated by Hengyu Supermarket Group."

At the beginning, when he was asked by the group to develop the Asian market, he was in high spirits. At that time, Wal-Mart had not yet entered the Asian market. As for the local supermarkets in this area, he did not pay attention to them at all. Carrefour had only one enemy, and that was Wal-Mart. .

But in the following time, the facts gave him a merciless blow. In the Japanese market, he faced the joint attack of Hengyu Supermarket Group and Ito-Yokado, and finally had to choose to withdraw.

On Treasure Island, they were also encircled and suppressed by Hengyu Supermarket Group and Uni-President Group. After holding on for half a year, they had to choose to retreat.

In Southeast Asia, Carrefour also failed to reap benefits, and was attacked by Hengyu Supermarket Group and local Chinese-owned families. It is currently in a state of loss in Malaysia, Singapore, and Thailand.

If it weren't for the fact that the top executives of the group were unwilling to give up the markets in these regions and were constantly pouring blood into them, he would have had no choice but to choose to quit.

Osford Jackson did not expect that Hengyu Supermarket Group would be so strong. This group has only been established for two years, and it has already occupied most of the Asian market.

And they are more worried than Carrefour. You must know that the headquarters of the 7-11 convenience store company under the Hengyu Supermarket Group can be located in the United States. Expand aggressively and compete with them for the US market, this is something they Wal-Mart Group does not want to see.

This time they teamed up with Carrefour, hoping to drag the energy of Hengyu Supermarket Group in Xiangjiang and Asia, so that they will not be able to expand in the United States.

As for Carrefour, they used to be the most important opponents of their group, but now they have to change their positions.

At present, in terms of market value alone, neither Wal-Mart nor their Carrefour can compare with Hengyu Supermarket Group.It's just that Hengyu Supermarket Group has always adopted its own stores, so it can't compare with them in terms of store size.

However, in terms of profitability, the current situation of the three supermarkets is almost the same. This is due to the fact that their own market economy is better. With the economic development of the Asian region, this situation will change soon. In the future, the two supermarket groups are likely to be connected The back of Hengyu Supermarket Group could not be seen.

Oscar Jackson said: "Bill, I used to think that in the field of supermarket retailing, the two of us would share the world, but it seems that the best result is three points. I have no qualifications. Hengyu Supermarket Group is notoriously strong. This time we are in Xiangjiang, and we hope to abandon our previous prejudices and cooperate sincerely to deal with the suppression of Hengyu Supermarket Group and Watsons, so as to prevent us from ending up with Wellcome Supermarket. Same end."

Originally, the strength of Hengyu Supermarket Group itself was not weaker than their two groups. What was even more frightening was that this group was backed by such a behemoth as the Li Family Consortium, so they had to deal with it carefully.

Fortunately, the recent investment of the Li's Consortium is a bit large, and its own financial resources should tend to be tense, and it will also give more consideration to the price war.

And this time they will not be stupid to carry out the price war with Hengyu Supermarket Group like Wellcome Supermarket. They never thought of competing with Hengyu Supermarket Group in this form.

The advantage of their two supermarket groups lies in the supply of goods. In this regard, they are richer than Hengyu Supermarket Group. They don't want to make money in Xiangjiang now, as long as they don't suffer huge losses.

Its purpose is only one, which is to drag Hengyu Supermarket Group in Xiangjiang, so that they cannot fully expand in other regions.

This time, Wellcome Supermarket’s original 18 supermarket stores were all leased to them. Wal-Mart and Carrefour have divided up nine stores. The losses of these stores will not damage the market of the two groups.

The reason why the two groups failed in the past was mainly because the two had too little autonomy and did not have much resources and financial support, so they had to choose to withdraw from the market.

It's different now. With the financial support from the group and the fact that the stores here are allowed to lose money, they don't need to worry about it.

Victor Bill was deeply moved by this. If the group's top management had paid more attention to it earlier, he would not have suffered such a miserable defeat in these areas.

It's just that if they want to compete with Hengyu Supermarket Group in Xiangjiang, they still need to think more about the supply of goods. It's better to get exclusive sales of some brands, so that they can hope to gain a firm foothold.

(End of this chapter)