“I’m really tired.” 53-year-old bell group has been full of energy, speed fast, but in talking about the recent dispute, inadvertently said such a sentence, looking out the window made a stay under.
Bell group in Guangxi Stores (Department Store special: http://www.fake-gucci-handbags.com) industry leader – Dream Island Department Store ethnic store general manager. Starting from 2009, exposure to August this year, national and international top brands Guccci shop contract, which is scheduled for December this year the venue. However, the general manager and chairman of the escalation of conflict between, Gucci approach sudden and devastating setbacks. Bell Gucci group need to find ways to explain the internal problems, eliminating the other side of the legal concerns and management disputes.
Bell group frankly, worried about 300 square meters of shop fitting is good, and Gucci, but can not enter the field.
Gucci’s hesitation
August this year, Gucci and Dream Island Department Store signed a contract of national stores, is scheduled for soft opening in December, because of the conflicts between the chairman and general manager of the obstacles.
The end of September, two months from the time of trial operation Gucci, chairman of Dream Island, the legal representative of LIU Li Ning Zhixin Gucci (China) Trading Co., Ltd. General Manager Tang Zhantao, means “does not authorize any person on behalf of our company and your company signing of the Gucci brand “jointly sell the contract goods” … Please be sure to carefully check your company in Nanning, Guangxi Dream Island Department Store signed on behalf of national legitimacy of the party store, they are holders of power of attorney signed by the legal representative, to avoid unnecessary future legal disputes and economic losses. ”
Allegedly, Tang Zhantao letter and then forward the call bell group, want to know the truth. At the same time, depending on Gucci for the wind vane, and the other is talking about the top brands of contact Dream Island Prada also confused by internal disagreements, its Greater China president Huang Nanling summoned bell group.
Dream island nation located in Nanning City downtown shop section of National Road. To welcome the arrival of Gucci, the store will be the most prominent position stayed. Now, on the first floor exterior design and has surrounded Gucci logo plate, to indicate to do renovation work. However, in an interview, Bell admitted group, Gucci has not dispel the doubts. ”I’m way is to ask the authority of the department store industry to help convince Gucci.” Bell group said.
Dream Island chain, legal counsel, Guangxi, Hong Zhang, said state law firms, as foreign legal systems and cultural backgrounds, to explain clearly, is not easy.
It is understood that Dream Island Department Store and various branches of the legal representative is the chairman LIU Li Ning. The Bell group is Dream Island Department Store opened in the beginning to now, mains operation and management issues. 16 years, Dream Island has developed into nine branches, 30,000 employees of the department store industry leader in Guangxi. In recent years, the positioning of Dream Island continued to go to the high-end, the ancient city of shops, ethnic shops and other large-scale renovation, the store brand gradually updated. Gucci is the second in December last year, LV store in Dream Island, settled in the ancient city after another into the dream of the island’s top brands.
However, the bell group, said on the eve of trial operation in the LV, and its disagreement with the LIU Li Ning, then forced to sign the resignation, give Dream Island Department Store’s general manager. ”If I was not signed, I could not even out of the office doors are not.” Bell group said.
After signing the more dramatic things, first clock shop seal ethnic group back to the “new dream” claiming to continue to operate independently; the nation after the shop to stop using the joint Dream Island shopping card, causing both the escalation of conflict, the occurrence of suspected Chairman with people, “hit stores” event. For the conflict between the chairman and general manager, the general public has heard of Nanning: Dream Island Department Store is downtown, “separation.” The LIU Li-Ning is undoubtedly overwhelmed by a letter declaring the nation Gucci store say. ”With a department store, it could also win the LV and Gucci, should not have more!” Bell group repeatedly stressed that conflict should not be to the detriment of both department stores at the expense. She told the newspaper, a long time, for about the next Gucci, Shanghai, Nanning her back and forth that day, quite tired. She twists and turns will occur very angry.
Financial chaos
Gucci approach the obstacles, both reflecting the chaotic management of Dream Island, but also the results. Information display, due to management disorder, Dream Island Department Store caught in financial chaos.
According to news media reports, LIU Li-Ning has a registered business name of up to 24, covering foreign trade, department stores and real estate. LIU Li-Ning also served as chairman and legal representative of these companies to his position, maneuvers funds from the department to the real estate business.
Dream Island Department Store in nine stores in the nation-store performance stood out. 2010 annual sales of 20 billion yuan, profit of a billion-store sales accounted for 60% of the sum of all the branches.
Since 2003, LIU Li-Ning’s two real estate companies with Xin Xin dream garden dream start to the national store’s borrowing, many loans totaling 138 million yuan.There are 82.69 million yuan has not returned.
According to Xin Xin Dream Dream Park Corporation and Dream Island Department Store Company and the current account of the table between 2005-2007, two real estate companies to Dream Island to borrow money on behalf of the project and paid primarily land auction proceeds. However, the small advertising plan design, groundbreaking ceremony and other matters, real estate companies are borrowing to Dream Island Department Store.
Interestingly, Guangxi, Guangxi Branch Forensic Center report, “Hope is not a dream company for real estate project development and management”, the company’s most of the money (including loans to ethnic stores) have long been outside of the company or individual units between are occupied. Xin dream garden also exists the phenomenon of funds used. In other words, debt unaccounted for.
Associated with the national accounts, there are also shop shopping card payments. Dream Island Department Store, the store sales jointly shopping card.According to the financial statements show Dream Island: Crystal City branch only a store shopping card sales nearly 300 million yuan, city shops, Guigang stores, shops and other stores Wuzhou shopping card sales, there are nearly 200 million yuan.
Since last November, “separation”, the above four branches and national stores has yet to be settled. It is understood that Crystal City shop store shopping card payments arrears nation more than 50 million owed to all other branches of national store shopping card payments 98.45 million yuan.
It is worth mentioning that there is Crystal City shops. Store in the Dream Island “separation” from the bell after the group management. 2010 financial statements show that the shop only money funds more than 10 million, and “accounts receivable” is as high as two million. Familiar with the financial situation of the island dream figure, a huge amount of accounts receivable that Crystal City shops also have to divert funds suspected of being, as if only the accounts owed to other branches, “one can get this, and secondly, will not slow come back. ”
In addition, the Crystal City shops reflect the main supplier, the company owed money. According to projections, Crystal City store supplier payment arrears of about $ 100 million.
Taking these three capital projects, Crystal City shops have up to 3.5 billion in funds unaccounted for. As of December 31, 2010, Crystal City, the cumulative loss of 15.35 million yuan store, the 2010 net profit amounted to only $ 2.4 million.
Competition for Dream Island
In mid-August this year, announced the national stores gift cards out of joint. Store refers to the shopping card payments outstanding, seriously affect the financial chain.
August 23, LIU Li-Ning to lead a group of bodyguards to the national shop floor cosmetics counters, smashed store and injured on duty manager. There were a number of customers present, the national store surveillance video also captured video. However, after LIU Li Ning denied.
In fact, these funds on over 20 million turnover in terms of ethnic shops, not to the point of strand breaks caused by its funds. Two months after the incident, told Bell group also admitted that shopping card funds are owed mainly to extend the payment period to pay suppliers, and can be used to redeem assets.
It is further understood that the ethnic stores in the decoration, to the ancient city of Crystal City shops and loan stores about 50 million to 60 million. If the inter-branch clearing, and shopping card payments offset, actually two branches of national store of money owed is only two or three million.
A familiar bell group sources, the reason obsessed with settled accounts, because the “separation” event “harm to the Bell group’s reputation.”
“In the second-tier cities is very hard to open department store.” Bell group feeling, the first in 1995, Dream Island (today’s city store) opened, no resources, turnover of 1 billion less. By now, the Dream Island Department Store has a staff of 30,000. ”It’s more than 30,000 people, let alone allow them to work, do not just manage the chaos, it has been very easy.” Bell group said.
Bell said his group is almost year round, “each department in each fan … what size columns, all in my head!” Bell group said.
Last year, the city store renovation costs exceed the budget doubled, and decorated with the program schedule is also quite different. LIU Li Ning Zhong groups and quarrel on the matter, then broke out above the “resignation” event, dealt a serious blow to the bell group. The spread of both conflicts since.
Close to the international top brands said that in addition to the identification of legal issues, Dream Island, chairman of the board reflects the chaotic management of e-mail more, this may also be cause for concern Gucci.
Dream Island chain, legal counsel, Guangxi, Hong Zhang, said state law firm, according to the articles of incorporation, operation and management of national power are the property of stores, general manager of control, and communication with Gucci are areas of business management services. The exercise of legal representation legal representative, declared outside the company will, subject to company legal decision-making process. Zhang expressed the hope that the legal adviser and Gucci interview, which explain the doubts.
We have heard that, LIU Li-NING Ti of the spin-off of real estate and department stores, department stores owned by Bell group to resolve this dispute.
