Su Zengfu, the founder and actual controller of Supor who was accused of "selling state assets", said that he did not regret it. Why on earth is this? So why did Su Zengfu sell Supor cheaply?
What twists and turns did Su Zengfu and his Supor experience? In this issue, Ziya Tongqu merchants will bring you a kit to understand the stormy course of Su Zengfu and Supor.
Su Zengfu, 194 1, is a native of Yuhuan County, Zhejiang Province. When he was a teenager, Su Zengfu came from a poor family, so he worked very hard to live up to his family's high expectations and served in the navy.
The hard teenage life and military career taught Su Zengfu to polish his mind in a difficult situation, but fate always seemed unfair to him.
After retiring, Su Zengfu did not change jobs smoothly, so he had to go home to farm. It was not until he was nearly thirty years old that he entered a pressure cooker parts factory in Yuhuan County and became a small employee.
After entering the factory, Su Zengfu still maintained the arduous style of military life and worked hard. Su Zengfu, who came from a peasant family without any background, became the director of the parts factory with his personal efforts ten years later.
This should have been a happy thing, but the parts factory that Su Zengfu took over was facing the problem of poor management at that time.
It turned out that the market environment of pressure cooker was not good at that time, and the performance of the factory where they made pressure cooker accessories was naturally not good. Su Zengfu, who has always been used to solving problems by himself, is determined to lead the factory out of the predicament.
As the saying goes, Su Zengfu has made a bold decision: since the pressure cooker products are not performing well in the market, it is better to make pressure cooker products that satisfy the market.
Faced with this amazing decision, some managers and employees thought it was too risky, but Su Zengfu pushed for crowdfunding and took out 3 million yuan to build his own pressure cooker production line, which was a foundry for his former boss, Shuangxi Pressure Cooker.
Su Zengfu led the factory staff to work hard with a down-to-earth spirit. The pressure cookers they produce are of reliable quality and high production efficiency.
At this time, it also coincides with the announcement of the cancellation of the dual-track price by the state, which reduces the production cost of the factory again, increases the sales income, and greatly increases the profits of the pressure cooker factory in Su Zengfu.
With efforts and opportunities, Su Zengfu's pressure cooker factory soon had an annual net profit of 80 million yuan, even several times higher than his employer's double happiness. How can OEM earn more than genuine factory?
Shuangxi soon parted ways with Su Zengfu over trademark issues. In this way, Su Zengfu and his factory were driven out by Shuangxi, and they were no longer allowed to make OEM products. But it is this separation that makes Su Zengfu determined to build his own brand.
Su Zengfu thought, since the branded pressure cooker can sell well in the market, there is no reason not to sell its own brand of pressure cooker.
Su Zengfu started it and founded Supor. In this way, the first private pressure cooker brand in China was born.
After going it alone, Su Zengfu needs to consider more things. Once he only had to produce pressure cookers and sell them, but now he needs to be in charge of the Supor brand.
If a brand needs to be competitive, it needs to be better than others. Su Zengfu chose to work hard on safety.
When I was a child, I must have been warned by my parents not to touch the pressure cooker. Once the high-temperature and high-pressure gas inside leaks or explodes, people may be seriously injured.
At that time, the quality of domestic pressure cooker products was mixed, so Supor hoped to build a safe pressure cooker product for consumers to use with confidence.
Supor has made great efforts in the anti-blocking cover and pressure relief window of the pressure cooker, so that the gas in the pressure cooker can be discharged in time when the pressure is released. Supor launched the brand appeal of "arriving home safely", which quickly aroused strong repercussions in the market.
Customers are very satisfied with the safety of Supor pressure cooker, and have recognized Supor products in other aspects. Supor thus rose to fame in the pressure cooker market in China.
After entering the 2 1 century, the consumption power of China residents is increasing day by day. Supor is no longer limited to the production of pressure cooker products, and all kinds of kitchenware and kitchen supplies have also come out of Supor's production line and flooded the market.
Supor's cookers and kitchen supplies such as induction cookers and dishwashers began to be sold all over the country, and Supor's kitchen supplies began to penetrate the hearts of consumers in China.
In 2004, Supor became the largest kitchen appliance manufacturer in China and listed on Shenzhen Stock Exchange. After ten years' efforts, Su Zengfu finally made Supor bigger and stronger, and became a well-known domestic enterprise.
In an interview, he said that the brand Supor was like his children, and he devoted all his efforts to it, but who would have thought that after only two years, Su Zengfu sold almost all of Supor's shares.
What made Su Zengfu sell his childhood brand at once?
In 2006, Su Zengfu issued 40 million additional shares to French seb, cashing in 4 billion yuan a year. By the beginning of 2007, Su Zengfu had only 0.0 1% of Supor's shares.
Supor has completely turned into a foreign company. Speaking of reasons, Su Zengfu can only say that this is really a helpless move.
After Supor's listing, the profit did not increase significantly, but decreased, and the stock price was also decreasing, so Supor's development was temporarily stagnant.
Su Zengfu also noted that due to limited capital and market conditions, the future development of Supor may be very difficult. At this time, the French seb Group extended an olive branch to Supor.
Provided some technical support to Supor and received many orders. In the face of development difficulties, Su Zengfu chose to completely sell the brand Supor with a capital of 4 billion yuan.
Supor has thus become a foreign brand, and Su Zengfu has also been labeled as "selling state assets". Supor was not cornered at that time, but now its market value is soaring, reaching 68.9 billion yuan.
But at that time, the market was still groping for development, and local banks didn't have that much money to support all the private enterprises that sprang up like mushrooms after rain.
We can't look at Supor's predicament with our present eyes, which is why Su Zengfu said he would sell Supor, and he didn't regret it.
In fact, Su Zengfu has not completely sold the Supor brand. After selling the kitchen utensils field to seb Group of France, Supor Sanitary Ware was founded.
Today, Supor has also made brilliant development in the fields of bathroom products, personal care products and household appliances. Although it failed to achieve the proud achievement of reaching the top of China kitchenware market, it continued its vitality for Supor.
Li Ka-shing once said: "Enterprises should raise like sons and sell like pigs." We can't say that this sentence must be right or wrong.
However, in the face of key decisions, it is brave to forge ahead boldly, and it is also a kind of wisdom to go forward bravely. Su Zengfu once led the workers in the parts factory to raise the banner and set up Supor.
After listing, it was sold in the face of business crisis. Now Supor is not selling state assets as some people say. Supor's bathroom and home appliance industries are still active in our lives today.
Su Zengfu said he had no regrets. We can understand that it is not that if time goes back, he will still sell Supor, but that it is a strategy to advance and retreat in the face of decision-making.