Easyhome New Retail Group Co., Ltd.
居然智家
000785
Shenzhen Stock Exchange
Company Profile
The company, positioned as a brand operator and a service provider, specializes in home furnishing industry, and enjoys a leading industrial position and strong competitive advantages. First of all, it is in good standing and has great service reputation. It has always implemented the philosophy of “compensation first”, and successively provided services such as “no-hassle returns and exchanges within one month”. It is therefore the pioneer and practitioner of service standards in the home furniture retail industry. Secondly, the company has adopted a “asset-light” chain development model based on operational capabilities, and achieved high-efficient asset operation and outstanding performance. Finally, the company tops the industry in its business depth and width. The company has conducted in-depth strategic cooperation with Alibaba, and has achieved a significant lead in the industry in terms of digital transformation of stores. It has introduced the intra-city stop based on the localization of e-commerce, which is a business extension built on a series of digitalization of stores, commodities, and transactions. On the other hand, the company is making efforts to broaden the self-operated and IP business to solve industrial pain points and improve the delivery and service capabilities throughout the whole industry chain. The company is staffed by experienced, enterprising management teams. Such teams, for one thing, have rich experience in store management and highly recognize “Easyhome” brand and corporate culture, and for another thing, they can use their unique strategic vision and abundant resources to accurately grasp the industrial development trend and the company’s realities, and further formulate clear and feasible development strategies.
Full description
Easyhome New Retail Group Corporation Limited (000785) is a publicly listed company (A-share) traded on Shenzhen Stock Exchange, and also a leading player in China’s pan-home furnishing industry. The company is one of the few Chinese integrated, innovative, large home furniture retailers that took the lead in arranging a whole industry chain and building up a national offline retail network. It has advanced competitive advantages in many aspects such as brand, service reputation, scale, and business model. The company firmly upholds the corporate mission of “making home decoration and furnishing fun and simple”, and focuses on the development strategy of “building a service platform of home decoration & furnishing industry in the digital age” to speed up the progress of three major areas: home decoration, consumption, and new retail”. As of December 31, 2020, the company operated 382 home furnishing stores - 90 direct-sale stores and 292 franchised stores - in 29 domestic provinces, autonomous regions and municipalities. Besides it ran eight modern department stores, one shopping mall, and 111 various supermarkets in the center business district of Wuhan and ten major cities including Jingzhou, Huangshi, Huanggang, Shiyan, Xianning, Xiaogan and Jingmen in Hubei province. The company is mainly engaged in chain store operation and management, and with “Easyhome” brand, construct new stores and complete expansion through direct selling and franchising. The direct selling model is mainly based on property leasing, and the corresponding stores are mostly located in relatively developed cities such as municipalities and provincial capital cities. The franchise model refers to a commercial mode in which the company authorizes the franchisee to use “Easyhome” trade mark and trade name for business. Such model can be divided into entrusted management and special franchisement. The company is accelerating exploiting channels, applying the branding and management to advance chain development, and steadily promoting the industrial chain layout in domestic third- and fourth-tier cities. It not only diligently taps into the market in provincial capitals and prefecture-level cities, but also actively takes big steps in county-level cities. With the commitment to online and offline integration, the company has successfully created a closed consumption loop that is centered on intra-city stops and takes Taobao live-streaming as the front-end marketing tool to convert online spending to offline purchasing. What’s more, it is endeavoring to increase self-operated and IP business, thus improving the delivery and service capabilities of the whole industry chain.