By The Impact Of The Electricity Supplier, The Department Store Industry Is Still Experiencing The Cold Winter.

Recently, the Wangfujing issued a notice on changing the use of some fund-raising funds. It intends to terminate the original commitment of 208 million yuan for the renovation of Tangshan Xinhua cultural plaza, Chongqing Wangfujing Monument for Liberation store, Wuhan Monument for Liberation, Hohhot and other 4 projects, which is intended to be changed to permanent supplement company liquidity and used for production and operation related to main business.

In the 4 projects being terminated, the Tangshan Xinhua Culture Plaza project is a new store, and the other 3 items are renovation and renovation.

Among them, the Chongqing Wangfujing Monument for Liberation shop and Hohhot Wangfujing lease contract remaining period is less than 5 years.

Whether the contract is renewed or not after the expiration of the contract is not mentioned.

Regarding the reasons for ending the original investment projects, the Wangfujing believes that in recent years, such factors as the growth of the macroeconomic downturn, the intensification of competition in the industry, and the cross-border competition brought by the Internet have made a comprehensive impact. Consumers and consumer behavior have changed rapidly, and the market environment of Department stores has changed dramatically. It is difficult to get a good return on investment in the operation of independent department stores under 40 thousand square meters and the investment in large-scale decoration and pformation.

"The company decided to terminate the implementation of the project in response to changes in the overall market environment, store operating conditions, stability of the company's efficiency platform, and pformation of the company's development strategy."

Wangfujing said.

Integration and pformation become an urgent problem to be solved in department stores.

Wangfujing said: "in order to adapt to changes in the market environment, and to

To provide better service experience, the company's development strategy has shifted to shopping centers and outlets, no longer developing stores in single department stores, and appropriate adjustments will be made to the original department stores.

As early as last August 12th,

It has announced the launching of a comprehensive strategic pformation, which mainly consists of four parts: core competence building, full channel construction and new technology application, format development and enterprise organization change.

At the same time, Wangfujing department store announced that it no longer opened shop with traditional department stores, and shifted its focus to shopping center and Oteri J format.

Spring stores become a major boost to their pformation.

Wangfujing has won HK $1 billion 997 million (about 1 billion 603 million yuan).

39.53% of the shares and have completed the mandatory acquisition of its remaining shares.

In spring, department stores have 18 department stores and 3 Oteri J in the whole country. Compared with their department stores, Wangfujing may value the 3 Oteri J more.

The industry generally believes that the acquisition of Wangfujing is more in order to use the spring department store water test outlets to break the industry dilemma.

Regarding the acquisition, the Wangfujing side said that spring department stores had a high reputation among consumers, and that Wangfujing had the advantages of complementing brand positioning. In addition, the spring department stores, which had abundant operation experience of OLE, had opened 3 stores in Beijing, Shenyang and Qingdao. Reorganization and merger played an important role in the rapid expansion of Wangfujing's business.

It is reported that the first project jointly built by the two is a Xi'an based Oteri J who will be unveiled in 2016.

"Shopping centers have many functions compared with traditional department stores. Besides shopping areas, there are restaurants, entertainment areas, which can provide comprehensive services to consumers, and consumers' shopping experience can be more excellent.

Oteri J is mainly composed of stores with brand over season, lower shelves and broken yards. The products have higher cost performance and stronger brand effect, which play an important role in stimulating the development of Wangfujing.

But the concrete effect is still to see the concrete operation of Wangfujing.

He told the new financial observer.