The term domestic products often seems to be synonymous with inferior products in the eyes of the public, but it is undeniable that there are many domestic products that are actually high-quality and low-priced. These brand products are also called the light of domestic products, golden monkey toffee In fact, it is such a product. Ten years ago, it still had a position that could not be ignored even in the toffee market where White Rabbit toffee dominated. But now it has disappeared and disappeared. Why did the Golden Monkey Milk Candy become like this?

Transform yourself and create miracles

There is no shortage of people who find new ways to achieve success in life. Zhao Qisan, who was born in 1948, was not interested in learning when he was young, which led to academic failure. Not very accomplished. After graduating from middle school, he worked in a rural electrical appliance factory. Although his academic performance was poor, Zhao Qisan, who had been running business outside all year round, had a high emotional intelligence and thrived in the electrical appliance factory. He was promoted to factory director in two years.

Zhao Qisan originally thought that this promotion was something worthy of celebration, but the electrical appliance factory he never wanted to take over actually ended up with a debt of more than one million yuan. The high amount of debt is not a small sum for the young Zhao Qisan. In addition, the reform and opening up has just begun. It is extremely difficult to make a big difference in the home appliance industry in this environment.

In Zhao Qisan's opinion, having enough food was the last priority in the 1980s, so he made up his mind to change the electrical appliance factory into a food factory. In this way, Fujing Agricultural Machinery Factory was renamed Shenqiu Food Factory. In fact, Zhao Qisan didn't know much about the food industry, but he knew what was going on. With his unremitting efforts, the food factory not only repaid high debts, but also expanded the scale of the factory.

In 1992, after market research, Zhao Qisan discovered that candy brands were on the rise. The year when Zhao Qisan founded the company happened to be the Year of the Monkey, so the company named the company after Zhao Qisan’s favorite animal, the golden monkey. .

So the Golden Monkey brand was officially born. With the mass production of candies, chocolates and other products, Golden Monkey achieved an astonishing annual income of more than 20 million yuan and seized a large amount of the candy market. In 1994, Zhao Qisan moved the company's headquarters to Shanghai and integrated all resources. By 2008, Golden Monkey's annual sales exceeded 2 billion yuan.

To find a new path is not to take a shortcut. Zhao Qisan allowed Golden Monkey to create sales of 2 billion, which was achieved through hard work along the way. Zhao Qisan assessed the situation, clearly understood the market, and found a path that best suited him.

Lost himself and forced to "sell himself"

Zhao Qisan is a benchmark figure in the food market. Running the market all year round is indeed a good way for Zhao Qisan to make a fortune. In fact, Whatever the fire is. In the early years, this business method was feasible. As the market develops, more and more people are imitating it. What the market needs most is innovation.

Zhao Qisan has always been obsessed with huge profits from "imitation" and did not realize that Golden Monkey Company needs to adapt to the times and innovate. This lack of innovation has left hidden dangers for Golden Monkey's future development. The Golden Monkey Company is known as a classic with its slogan "Three Golden Monkeys, a cup of good milk". What is sad is that this is a plagiarism of the White Rabbit toffee "Seven White Rabbits, a cup of good milk".

In the later period, he was fined 1.93 million yuan for counterfeiting Ferrero's trademark without permission. Blind imitation greatly reduced the reputation of Golden Monkey Company, but Zhao Qisan ignored it. He was already addicted to his own. There is no way to extricate yourself from the empire of money.

In order to successfully list the Golden Monkey Company, he began to expand crazily. He never thought that something would go wrong with this expansion. The Golden Monkey Company was affected by word-of-mouth, resulting in a sharp decline in performance, failed to successfully go public, and performed poorly. Coupled with the setback in the listing, 67-year-old Zhao Qisan came up with the idea of ??selling Golden Monkey.

Two years later, the crisis of the Golden Monkey Company became increasingly prominent, and Zhao Qisan had to cash out his share of the company and sell the Golden Monkey Company. At that time, the American Hershey Company intended to open up the domestic market by acquiring local Chinese companies and using the sales channels of state-owned enterprises. The two parties hit it off immediately, and in the end Hershey Company spent 3 billion to acquire Golden Monkey, and Zhao Qisan cashed out the 3 billion and left. Looking back on Zhao Qisan's bold statement in the CCTV advertisement to "create high-quality trump cards and build a century-old store", it has come to nothing.

As Golden Monkey develops more and more rapidly in China, Zhao Qisan lacks the awareness of flexibility and insists on following the old business strategy.

In today's society, everything is developing rapidly, and flexibility is particularly important. If you cannot keep up with the changes of the times, you will be abandoned by the times.

After going round and round, it became a domestic product again

Golden Monkey was originally a family business founded by Zhao Qisan. After Hershey Company acquired Golden Monkey, its foreign business model was not suitable for Golden Monkey. Severe layoffs, changes in business rules and "acclimatization" have caused the Golden Monkey Company to be devastated. The decline in performance has left the company unable to pay employees. The arrears of wages caused internal employees to stir up trouble, and conflicts became increasingly serious.

In order to save the crisis, Hershey Company formulated a strategy of borrowing money to ship goods in order to improve sales performance to make up for the unpaid wages. Unfortunately, this approach encountered serious slow sales in the market, which intensified the company's crisis again. At this time, the Golden Monkey was experiencing internal and external troubles. As the problems had not been effectively solved for a long time, the good reputation Zhao Qisan had accumulated in Henan was gradually destroyed.

Hershey Company’s series of changes to the Golden Monkey had no effect at all, and its patience with the Golden Monkey was almost exhausted. After being disappointed with the Golden Monkey again and again, Hershey Company felt that the Golden Monkey could no longer create for them. The market value was exceeded and the company chose to sell the golden monkey back to the Chinese market at a low price. In the end, Shanghai Golden Monkey Food Co., Ltd. was acquired by Henan Yuxiang Food Co., Ltd. again at a market price of 200 million, and four years later it "transformed" into a state-owned enterprise again.

Hershey Company ignores that Golden Monkey is a family business, and its management methods naturally have to be tailored to local conditions and treated separately. Foreign business models are not suitable for the long-term development of family businesses. Only the right one is the best.

The golden monkey, which has been "selling oneself" twice, has become a classic domestic product again, and a large part of the customer base it once accumulated has still been retained. For many people, the golden monkey toffee is their childhood memory. It still has the conditions to survive under the dominance of White Rabbit Milk Candy, but it is no longer possible to return to the top. The future of the Golden Monkey Company depends on whether it can have innovative and revolutionary development points.