Li & Fung is a family business with a history of nearly a hundred years, mainly engaged in export business. Born by brother Guo Lunfeng, he is the third generation heir. In fact, joining Li & Fung is not the original intention of Guo Lunfeng. He said, "If I can choose, I'd rather work in America, and my brother feels the same way. However, the development of' Li Feng' requires professional management talents, and my father is busy and needs help. " After joining Li & Fung, Guo Lunfeng had no choice but to help his father plan the company's listing. He believes that "Li Feng", an ancient family-owned enterprise, can hardly meet the needs of the rapid development of modern society. In order to successfully transform into a diversified and pioneering enterprise, it is necessary to bring "Lifeng" to the market. So he set out to assist his father in planning. With keen insight, he skillfully grasped the unprecedented prosperity of the Hong Kong stock market in 1973, and took advantage of the situation to let Feng Li go public, setting an amazing record that the application amount exceeded the issue amount of 1 13 times, which made Feng Li's assets and market value more than triple.
1974, his brother Feng also came back from America at his father's request. Both brothers are industrious and enterprising young people with good professional education, and they are scholar-type entrepreneurs. Their entry into Mo Lifeng marked the beginning of the modernization of family businesses. According to his father's memory, the two brothers set out to check the organizational structure and personnel problems of the company and put forward solutions. This is the first time that "Feng Li" used modern western management technology to check the operation of all systems in the whole company from a professional perspective, and began to carry out a series of reforms in the company's organizational structure, operation and personnel management, thus combining modern professional management technology with traditional enterprise spirit to form a diversified modern enterprise with perfect structure, strong adaptability and development potential. From 65438 to 0986, Guo Lunfeng joined the board of directors of the Group and served as managing director and chief executive officer. Under the leadership of their generation of young entrepreneurs who have both professional knowledge and deep understanding of business, "Li Feng" has developed at a rate of 35% annual compound sales growth. By the end of 1994, the total business of the group reached HK$ 665,438+25 million.
The management mode keeps pace with the times, assesses the situation and constantly pushes the enterprise forward, which is a sign that an entrepreneur is maturing. Guo Lunfeng noticed this as early as the 1970s. He believes that with the development of modern information, the world is getting smaller and smaller. Therefore, "Li Feng" must take a special route and develop diversified management. Li & Fung made a decisive decision after listing, while maintaining its traditional export business, it also developed in a diversified direction. He sized up the situation and bought an American company with many years of experience in product design. Using his resources and professional knowledge, he modernized the traditional handicrafts of China that Li Feng had been managing for many years, improved the product quality and expanded the market. A similar practice applies to clothing. After the Sino-British negotiation 1984 ended, the two brothers seized the opportunity to buy the shares of the company held by family members and took the opportunity to privatize Feng Li. 1992 when the Hong Kong stock market was booming, Feng Li went public again, was oversubscribed by 27 times, raised 275 million Hong Kong dollars, and then transferred the funds to the office.
Guo Lunfeng believes that "retail is the future of the company". He plans to gradually expand Li & Fung's retail industry to the scale of export industry. He adopted the strategy of "developing strengths and avoiding weaknesses, making small and broad, and integrating distribution". First, he set up a retail department in Hong Kong. The second is to establish financing institutions in the United States, and make more acquisitions in the local area that are conducive to Li & Fung's investment, making it a distribution store of Li & Fung. Hong kong. Toys R Us. Moreover, chain convenience stores are open 24 hours a day, which makes Li & Fung's retail industry stand out in Hong Kong. Li & Fung's investment in Hong Kong retail market is diversified, including 65,438+087 branches, such as OK convenience store, Kuaipu Meichong Sun Store, Toys R Us, Bread Stove and Ji Fen Paradise. It also cooperated with Japanese and American capitals to establish OK convenience store and the world's largest Toys R Us store. By the end of 65,438+0994, the total retail sales of the Group reached 65,438+.
After the reform and opening up, China is a vast and attractive market. Guo Lunfeng is convinced that "China Mainland will develop into an important production center and consumer market". Li & Fung has purchasing offices in eight cities in China. In order to cope with the increasing production and consumption capacity in the Mainland and participate in promoting China's increasingly successful economic reform and market opening, he plans to gradually expand the distribution network in the Mainland in the next three years, making it a distribution point of Li & Fung, and then open branches in South China, Beijing, Tianjin, Shanghai and even this hinterland. 1995 set out to open a convenience store and a quick Tumei audio-visual printing shop in Shenzhen. 1995, the group established Li & Fung Wholesale Distribution Center Co., Ltd. to invest and develop in major cities in South China. Wholesale distribution center mode. The first center was built in Panyu, and a modern comprehensive industrial city covering an area of 6.5438+0.5 million square meters was established in Heshan Port. The first phase of the project has also been completed.