Domestic giants “reduced” to foreign capital, 10 billion sold to the French, and today’s market value exceeds 60 billion

With the rapid development of China’s economy, many domestic brands have emerged in the market, many of which have gone abroad and expanded overseas. At the same time, many foreign enterprises have begun to enter the Chinese market. < / P > < p > some foreign companies seem to be very keen on China’s food industry. For example, Shuanghui and Yinlu, which we often buy, were acquired by Goldman Sachs Group and Nestle coffee group respectively. In the field of home appliances, the acquisition behavior is not new. SUPOR, once a small domestic appliance giant, sold it to the French at a price of 10 billion, which has completely “degenerated” into foreign capital, and many people think it is domestic. < / P > < p > I believe you are not unfamiliar with the brand of Supor. Many families will have SUPOR appliances in their kitchens. Before that, Supor, Midea and Jiuyang were three domestic appliance giants, occupying nearly 80% of the market share of small household appliances. It can be seen how popular SUPOR was at that time. SUPOR was founded in 1994, and this year is its 26th year of development. It is now a common brand of cooking utensils. It is also the largest leading brand of small household appliances in China and the second in the world. It has a good development momentum and is “glorious”. However, it was sold by the founder more than ten years ago and is now no longer a domestic brand. Su Zengfu was born in Zhejiang Province in 1941 and is the founder of Supor. His son is Su Xianze. When Su Zengfu was 55 years old, his father and son founded SUPOR together. SUPOR started with cooking utensils, launched the first safety pressure cooker in China, and quickly opened the market. In 2004, as soon as SUPOR was listed, it occupied 40% of the pressure cooker market share. But the next year, Supor’s development met a bottleneck. < p > < p > in 2006, Supor’s share price fell wildly. However, Supor’s revenue reached 4.6 billion yuan. On the one hand, the stock price fell and on the other hand, the market performance was impressive, which made Su Zengfu panic. < p > < p > in that period, SEB, a famous small household appliance enterprise in France, had a very large scale of development, and its revenue was more than 10 times that of Supor. However, its market share in China was very small, so China became the first choice for SEB expansion. < p > < p > in 2007, SEB group began to merge and acquire SUPOR. Since then, Su’s father and son and major shareholders have continuously reduced their shareholding for cash. Now, Su Zengfu’s shareholding in SUPOR has been less than 0.01%, and it was finally sold to France at a price of 10 billion. In that year, Su Zengfu was 66 years old. In an interview, Su Zengfu said the reason why he did not refuse SEB’s acquisition at the beginning: as a labor-intensive industry, the development of the enterprise will become more and more difficult after the increase of various costs such as manpower, material resources and rent. Based on the successful product category expansion, strong channel layout and export order transfer, Supor’s revenue has shown a good trend in the past 10 years. Now SUPOR is not only the main cooking utensils and small appliances, but also the overall intelligent kitchen for the development direction. < / P > < p > this is very different from the original selling price of 10 billion yuan. I don’t know if Su Zengfu, the founder of the company, will have a little regret, but it has been so far that there is no way to go back. However, after selling the company, Su Zengfu did not enjoy the happiness at home. Instead, he started his business again at the age of 72 and became a “king of bathroom”. His goal was to become another 10 billion listed company. We have to say that such entrepreneurial spirit deserves our respect. Continue ReadingXiaomi new machine real machine exposure center dig hole screen design or high color thousand yuan machine