"Three golden monkey tofties are a good cup of milk. This advertising slogan is etched in my memory. Golden Monkey Milk Candy used to be the leader in the domestic candy market, with annual sales of 2 billion yuan, which was highly sought after. However, over time, the golden snub-nosed monkey gradually disappeared. And related to this reversal of fortune is the series of acquisitions experienced by the golden monkey. In 2008, the Golden Monkey achieved peak sales results, but then due to some negative news and the cold market, the Golden Monkey Group's operation began to have problems. In response to the dilemma, Zhao Qisan, the founder of the Golden Monkey Group, made a controversial decision to sell the Golden Monkey brand to an American company. The purchase amount reached 2.6 billion, and the news raised concerns and opposition to the sale of domestic companies to foreign capital. However, a few years later, the Golden Monkey brand returned to the hands of domestic enterprises at a low price, and the story finally came to an end.
1. Rescue on the verge of bankruptcy In 1979, Zhao Qisan took over a township-run electrical appliance factory on the verge of bankruptcy. The factory is burdened with a debt of 1.22 million yuan, and there are only more than 30 employees left, and it is on the verge of collapse. Zhao Qisan found the problem of the electrical appliance factory: electrical appliances are luxury goods in the eyes of most people, and the market demand is not high. So, he decided to transform the electrical appliance factory into a food factory. This decision was not easy, facing many problems such as funds, equipment, and talents, Zhao Qisan started from scratch and worked hard.
Under difficult conditions, Zhao Qisan constantly thought about the development direction of the factory. He led the factory to carry out a series of changes, and finally successfully transformed the electrical factory into a food factory, and named it "Shenqiu County Food General Factory".
After the food factory was set up, Zhao Qisan faced financial difficulties. He gritted his teeth and scraped together 10,000 yuan of usury, plus the wheat made up by the employees, he was barely able to buy some raw materials. He hired a few pastry chefs from Shanghai to make some popular pastries and mooncakes from the raw materials. These products finally gave the factory hope of selling.
The profitability of the food factory has increased year by year, and Zhao Qisan has also begun to launch various new products, such as beef jerky, canned food, etc. In the process of striving for greater development, he discovered the rise of the domestic candy market and decided to create his own candy brand.
In 1991, Zhao Qisan bought the new pillow toffee technology of Shanghai Food Research Institute and founded the "Golden Monkey" brand. The brand quickly became popular and became a new force in the domestic confectionery market. Golden monkey candy has won the love of consumers with its sweet and delicious taste, cute packaging and reasonable **.
The sales of golden monkey candy are increasing year by year, and the brand awareness is also expanding rapidly. The advertisements for golden monkey candy have also become classics, the most famous of which is the advertising slogan "Three golden monkey toffee, is a cup of good milk". This advertising slogan has become a part of the post-childhood memory, and the advertising image is also deeply rooted in the hearts of the people.
With the growth of sales, the production line of golden monkey candy continues to expand, and the scale of the company continues to grow. The Golden Monkey brand has also launched a variety of new products, such as crackers, gummies, etc., further consolidating the brand's market position.
However, the success of the golden monkey candy did not last long. In 2008, the Golden Monkey achieved peak sales results, but a series of negative news came out, which made the operation of the Golden Monkey Group begin to have problems. The snub in the market and the rise of competitors have also had a big impact on the golden monkey candy.
In response to the dilemma, Zhao Qisan, the founder of the Golden Monkey Group, made a controversial decision to sell the Golden Monkey brand to a food conglomerate in the United States. The purchase amount reached 2.6 billion, and the news raised concerns and opposition to the sale of domestic companies to foreign capital.
However, the Golden Monkey brand did not disappear there. A few years later, the Golden Monkey brand returned to the hands of domestic enterprises at a low price. Small-scale food enterprises bought the golden monkey brand and production line for 100 million yuan, and reopened the production of golden monkey candy. While the Golden Monkey brand has not regained its former glory, it is still alive in the market and has regained its former success to some extent.
In the turning point of the fate of the golden snub-nosed monkey, on the one hand, it reflects the risks and challenges of enterprise development, and on the other hand, it also shows the tenacity and revival ability of domestic enterprises. Zhao Qisan not only founded the Golden Monkey brand, but also helped the factory come back from the brink of bankruptcy through continuous innovation and transformation. This story is not only a story about the journey of a company, but also a story of an ordinary person who changes his fate through his own efforts and wisdom.