The sudden news came that the popular discount supermarket chain Biyide announced the suspension of business, a decision that caused widespread concern. It is understood that the number of stores before the closure of Biyide supermarket once exceeded 200, and its low-price and cost-effective business model enjoys a good reputation among consumers. Although the official announcement did not elaborate on the reason for the closure, one respondent mentioned that "in fact, Biyide basically copied the model of Olé." This caught the attention of industry insiders, as Biyide launched its ** platform in April 2021 and set up two dedicated logistics and distribution centers in the north and south of Shanghai to enable home delivery, with about 140 stores in each center.
In September 2021, BYD also successfully secured an exclusive investment of hundreds of millions of dollars from Argan Capital, an independent private equity firm focused on acquiring mid-market companies in the European market**. The decision to close the door abruptly has sparked speculation in the industry about Yide's business conditions and internal problems. One resident said, "Biyide did a good job in the beginning, and at one time there were more than 200 stores, and every time I bought daily necessities here, I felt that it was worth the money." The sudden closure was indeed somewhat unexpected. "It has been observed that most of the stores in Biyide are between 200 and 300 square meters, and each store has a variety of products between 500 and 600, as well as products such as fresh vegetables, all in order to attract more consumers. Philippe Spangenberg, the founder of Biyid Supermarket, founded the discount store brand in China in 2017 and has managed to open more than 200 stores in Shanghai and Jiangsu during its rapid growth phase. However, the reasons for the closure and the future outlook for Yide remain a mystery, which has also raised public concerns about the discount retail sector. Regarding the closure of Biyide Supermarket, we encourage netizens to share their views and experiences in the comment area, and jointly develop the development trend of the supermarket business and related issues.