BBK Will Become The Central And Western Retail Giant

Through the issuance of shares and payment of cash consideration, BBK purchased the 100% shareholder equity plan of Nancheng department store in Guangxi, and was approved by the Commission of mergers and acquisitions of the listed companies of the SFC.

BBK, a retail business in Xiangtan, will become the leading retailer in two provinces and regions in Hunan and Guangxi. Its southwest strategy has also pushed forward an important step.

Hunan retail "leading" mergers and acquisitions of Guangxi retail leader

BBK group was first launched in 1995 and went public in 2008. At present, stores and projects have already spread across Hunan and Jiangxi, and have entered Guangxi, Chongqing and Sichuan.

The company's development strategy is to "grow into a leading multi format retailer in China" based on small and medium-sized cities with intensive, multi format and cross regional development models.

The company began to enter the Jiangxi market in 2005, and its market share in Jiangxi is expanding.

In 2013, the company officially launched the "Great Southwest strategy" and officially entered Sichuan Chongqing and Guangxi.

BBK said that the implementation of the paction is aimed at implementing the company's "Great Southwest strategy", and achieving rapid expansion across the region through strong alliance. In a relatively short period of time, it will complete the network layout of the company in Guangxi, further expand the company's scale advantage, enhance the company's overall competitiveness, and further enhance the company's continued profitability.

In the two tier market, since the announcement of the merger and reorganization event, BBK's stock price has been steadily rising, and it has risen from 11.74 yuan / share to 17.58 yuan / share recently, or nearly 50%.

According to a senior executive at BBK, contacts with Nancheng department store began 4 years ago, when BBK was just listed for more than a year.

In May 9th, the company's announcement said that BBK's way to issue shares and BBK, a wholly owned subsidiary of BBK, is expected to purchase 100% of its Nancheng department store in cash by way of cash payment.

According to public information, since its establishment in 2001, Nancheng department store has opened 38 stores in Nanning, Guilin, Liuzhou, Wuzhou, Yulin, Hechi, Baise and Kunming, and is now a leading retail enterprise in Guangxi.

In 2013, Nancheng department store realized 3 billion 91 million yuan of business revenue and a net profit of 105 million yuan.

Start the westward strategy by "Dongfeng"

Wang Ying, chairman of BBK, who was born in Xiangxiang, highly praised the strategy of "rural encircling the city" by Chairman Mao Zedong of his fellow townsman. He started from Xiangtan, and only after 10 years of development in various parts of Xiangxiang did he enter the capital of Changsha. Then he stepped out of Hunan into Jiangxi and became a leading retail enterprise in two provinces of Hunan and Jiangxi.

This is an enterpriser with ambition and strong national spirit.

After Carrefour and WAL-MART entered Changsha, based on their sense of national responsibility, he quickly entered Changsha and competed with these international retail giants.

As a deputy to the National People's Congress, he called on the Chinese national retail industry for many years to launch the "commercial large shop law" during the two sessions of the National People's Congress. He called for the regulation of some famous international retail enterprises and multinational corporations to rely on their strong financial resources and some places to give the super national treatment for the introduction of foreign capital.

After the policy of "the rise of central China" and "the strategy of the west" came out, BBK turned its attention to the central and western regions and launched the strategy of great southwest.

According to BBK chairman Wang Tian, the company is mainly located in small and medium-sized cities, and the acceleration of urbanization in the future will become an important development opportunity for BBK.

"We need to provide local consumers with quality products like those in Shanghai and Beijing in these three or four tier cities.

To provide good quality and inexpensive products and improve their happiness index. "

In the second half of 2013, after several years in Jiangxi, BBK stepped out of Hunan again and entered Guangxi, Chongqing and Sichuan, and strategically stationed in Yunnan and Guizhou, and arranged the development strategy of the seven provinces in the central and western regions.

The acquisition

Nancheng department store, a leading retailer, is an important step in stepping up the strategy of the southwest.

As a "dark horse" of Hunan's retail industry, BBK has made a good place in the retail industry of the whole country.

BBK has adhered to the mass line and has long adhered to the establishment of small and medium-sized cities and the central and western regions. Under the recent economic situation is not very good, there is still a gratifying situation in the development of the opposite trend. It not only grows fast, but also expands rapidly, providing consumers with preferential and high-quality goods and services.

BBK not only expands the geography in reality, but also provides the high quality service of Hunan enterprises to the consumers in the provinces, at the same time, it expands in space, opens the O2O strategy, creates the largest e-commerce company in Hunan, and competes with the power crocodile of the whole country.

"We will persist in the field of people's livelihood, from selling goods simply to selling lifestyles, and working to become providers and solvers of a better life plan.

We have positioned ourselves as a full channel operator to cater to changes in the consumer environment, provide consumers with online and offline experience, and provide a more perfect shopping experience.

Wang Tian said.