The Legend of Huang Guangyu -- The Real Record of the Commercial War at Gome

Author: Liu Hongyan
Publisher:
Publish Date: 2006-02-01
Features: Huang Guangyu, a retail industry magnate who created miracles through traditional means, a person who changed the rules of China's retail industry. How did he transform from a small shop owner to China's "home appliance giant"? This is a record of Huang Guangyu's business battles in the retail world, the unbeatable Huang Guangyu's tactics in the battlefield. Born into an ordinary farmer's family in Fenghu Village, Shantou City, Guangdong Province, he started working outside at the age of 16. At 18, he embarked on a difficult entrepreneurial journey in Beijing, reaching new heights year by year. Today, he has become China's first billionaire with a net worth of 14 billion yuan. He changed the rules of traditional Chinese retail and was hailed by the management industry as "China's Sam Walton." He is Huang Guangyu, chairman and CEO of the wealth hero-recognized Gome Electric Appliances Company. The success of Gome and Huang Guangyu's entrepreneurial legend are no longer just a phenomenon or a concept; they are a microcosm of China's economic and social development transformation in the contemporary era, with strong characteristics of the times.
On New Year's Day in 1987, at the age of 18, Huang Guangyu and his brother Huang Junqin opened an inconspicuous electrical appliance store with a rented storefront of less than one hundred square meters on East Zhushikou Street in Xuanwu District, Beijing. The store specialized in televisions and was originally a clothing store with a loud name—Gome. Through 19 years of relentless effort, this small shop that started with only tens of thousands of yuan and low-cost entrepreneurship had grown by 2005 into a large home appliance chain group with over 60,000 employees, annual sales exceeding 40 billion yuan, covering more than 120 cities across the country, and over 400 stores. Gome Electric held the leading market share in China's home appliance chain industry and was known both domestically and internationally as China's "home appliance giant." As the chairman and CEO of Gome Electric Appliances, Huang Guangyu also topped the Hurun List's 2004 and 2005 rankings of China's richest people with a market value of 14 billion yuan.
This book is presented in the form of a novel, divided into 38 chapters, providing a comprehensive introduction to Huang Guangyu and Gome's "business battle record" in the retail world. The author uses concise and fluent language, insightful comments, and a profound cultural atmosphere to deeply elaborate on the tortuous growth of Huang Guangyu and Gome in a specific market economy environment. It also explains to the world that the success of Gome and Huang Guangyu's entrepreneurial legend are no longer just a phenomenon or a concept; they are a microcosm of China's economic and social development transformation in the contemporary era, with strong characteristics of the times. The book is accompanied by over 100 photographs.