Three unlucky companies, once brilliant and dazzling, in their heyday, the chain store could circle the earth, and when the building was about to collapse, the time-honored brand had to fall off the altar.
I really saw him rise up a tall building, I saw him feast guests, I saw his building collapse!
Third place: Xu Liushan
The dessert king "Xu Liushan lost to Hey Tea and becameThe most miserable closure in history of the "time-honored brand".
Xu Liushan can be said to be the first generation of Internet celebrity shops in the dessert industry, there should be no friends in the south who have not eaten Xu Liushan, and friends in the north must have eaten even if they don't know Xu Liushan".Mango sago dewXu Liushan is its originator.
Born in Hong Kong in the 90s, Hui Liushan started as a trolley stall selling turtle jelly on the streets of Hong Kong, and seized the opportunity to develop into a dessert shop in the 70s when the dessert shop was just emerging.
In 1992, it was by virtue of a dish that everyone knew and everyone knew".Mango sago dewXu Liushan officially opened its glorious 30 years of "dessert king".
Once upon a time, Xu Liushan was once named a must-eat restaurant in Hong Kong, and Xu Liushan appeared in Aaron Kwok's movies and the big fire songs of twins, and many people said that eating a Xu Liushan in Hong Kong was like instantly becoming the protagonist of TVB.
At that time, there was a joke circulating in Hong KongWhen asked what mountains are the most abundant in Hong Kong, "Xu Liushan has the most"., which shows its status.
At its peak, Hong Kong once had more than 50 Xu Liushan stores, and then, Xu Liushan opened all the way from Guangzhou and Shenzhen to the mainland, and then to the world.
At its peak, Xu Liushan had more than 300 stores around the world, covering Singapore, South Korea, Malaysia, Canada and other countries.
At that time, when the market was still stuck in a few yuan of brewed milk tea, Xu Liushan had launched a sugar water priced at 18 yuan, and when the dessert was still in the turtle jelly and other products, Xu Liushan had launched various tropical fruit products such as mango balls and gold powder balls. It can be said that Xu Liushan has also driven the entire "mango business" by himselfIn 2016, Xu Liushan's profit from desserts alone reached 4600 million yuan.
So, how did this generation of sugar water kings decline?
The Xu Liushan family lacked insight into business management, and in the process of expansion, there were strategic mistakes and chaotic management, resulting in three "sell-outs" in just ten years, and a serious loss of brand value.
In October 2015, Xu Liushan was acquired by Huang Jihuang for 500 million Hong Kong dollars**, after the acquisition, large-scale franchise was opened, the number of stores surged, but sales did not increase but declined, and word of mouth began to decline.
Some Douban netizens once issued, "Don't eat Xu Liushan north of Yangcheng", and more netizens said, "Xu Liushan ten years ago no longer exists, and now it's too unpalatable." ”
With the closure of the last Xu Liushan store in Nanshan, Shenzhen in May 2023, the Hong Kong-style dessert king officially fell off the altar, and the memories of a generation of Guangshen people were also sealed.
Obviously, the profitability of franchise stores and direct stores is far from the same, and quality control is not comparable at all.
In 2020, Xu Liushan was even sued in court for rent arrears and other incidentsLiquidated directly
In addition to his own management problems, another major reason for Xu Liushan's decline is that he has failed to keep up with the pace of market development.
Xu Liushan's initial success was due to the fact that it kept up with the market step by step, even ahead of the market, the first to develop a sensational product "mango sago dew", after the success of it stepped up the pace, followed by the launch of a series of tropical fruit dessert series.
But it failed, and it failed because after it succeeded, it no longer followed the market, but stopped at the place of success.
But the market never stopsIt is constantly developing new forms, habits, productsThe new tea beverage format has already opened a new era, just like the original "eat Xu Liushan incarnate TVB protagonist", "Hey Tea" has already become a new round of fashion vane, Nai Xue, Coco, Tea Baidao and other brands have quickly seized the market, and at this time,Xu Liushan is still stuck in the development of the older generation of mango desserts.
With Xu Liushan is the same Hong Kong dessert Manji dessert survived in this change, it experienced silence, it chose to merge with the new tea drink "Xiaoman Tea Field", in the face of the needs of the times, preferences change, change is inevitable.
If you can't keep up with the changes of the times, it is inevitable that you will be eliminated by the times. In fact, what can make the market pay is never the "time-honored brand", not the brand, not even the successful research and development, but these "time-honored brands".BrandsSuccessful R&D to meet the needs of the current market.
Second place: Huayi Brothers
was once so miserable that it sold its house to pay off its debts.
During the scenery, Huayi almost monopolized the film and television industry, and the actresses, well-known directors, and the big bull team sat together, once shouting to become a "Chinese Disney", but now it was revealed that they relied on selling houses and paintings to pay off debts.
Huayi Brothers was founded in 1994 by Wang Zhongjun and Wang Zhonglei, and Huayi's production means that the box office is guaranteed, and several works such as "Painted Skin 2", "Tangshan Da**" and "No Thieves in the World" have a considerable box office.
Wang Zhongjun and Wang Zhonglei were both born in Beijing, and the difference between the two is ten years old.
Not long after his brother Wang Zhongjun joined the army before graduating from junior high school, he accidentally went to the University of Michigan to study media in the United States, which also laid the foundation for the brothers to later found Huayi.
His younger brother Wang Zhonglei was admitted to the Beijing Youth Political College during the college entrance examination, but perhaps it was fate, Wang Zhonglei's biggest hobby is watching movies, and he once told his brother that he hoped to create their own film and television media companyBut at that time, it was just a beautiful "dream" for the brothers who had nothing.
Later, Wang Zhonglei started his first business in China, and it ended in failure as a result, and at this time, Wang Zhongjun, who was thriving in the United States, returned to China with the $100,000 he earned in the United States, and founded Huayi Brothers with his younger brother.
100,000 US dollars, at that time, meant that the two brothers could eat and drink in Beijing from now on.
At first, Huayi Brothers was just an advertising and media company, but later it was able to officially enter the film industry because of its investment in "Endless" directed by Feng Xiaogang and "The Devil is Coming" directed by Jiang Wen.
In 2009, Huayi became the first entertainment company to be approved for public offering**.
Huayi perennially withFeng Xiaogang, Tsui Harkand other well-known directors have stable cooperation with well-known agentsWang JinghuaUnder the lead, Huayi Brothers also signed a large number of famous artists, at the most brilliant, Huang Xiaoming, Jing Boran, Yang Ying, Feng Shaofeng, Fan Bingbing, Yao Chen, Chen He, etc. were among them, Huayi was nicknamed at that time"Home of the Star".
At its peak, Huayi's market value reached 90 billion, and Wang Zhonglei was like a star-like existence no matter where he went.
However, Huayi's dream of "Chinese Disney" did not come true after allSince 2017, Huayi has begun to lose money year after year, a large number of artists have run away, and Huayi's market value has fallen again and again.
Huayi BrothersIt was originally a smooth development in the field of film, but seeing the vigorous development of the game industry, the huge benefits behind it are incalculable, so they began to lay out the game industry.
Driven by huge interests, Huayi began to throw money in the direction of games and cultural tourism desperatelyIn 2012, it became the second largest shareholder of Zhangqu Technology.
In terms of film and television, Huayi is getting more and morePursue traffic and abandon qualityThere are also many restrictions on artists in terms of performance, because there is no room for development, a large number of artists under it have run away and set up their own doors, and even Wang Jinghua has left Huayi.
And that's not all,Huayi backstabbed Stephen ChowThings also made a lot of noise, and hit a record 12 in the movieAfter the box office of 5.6 billion, Huayi crossed the river and demolished the bridge, and directly swallowed the 80 million dividends promised to Stephen Chow.
Stephen Chow took Huayi to court with a lawsuit, but he finally lost the lawsuit and was hacked for the 80 million.
And Huayi won the lawsuit, but lost all its credibility and popularity, Huayi **once**, the loss was far more than 80 million.
Catching up with the epidemic, Huayi's market value evaporated by more than 80 billion, the two brothers once relied on selling houses and paintings to pay off their debts, and those were all bought by them for hundreds of millions of dollars without blinking an eye when they were in the middle of the day, and Wang Wenye, the little princess of Huayi who grew up in the background of Huayi's glorious period, once called netizens "farmers" with contempt.
In order to pursue profits, Huayi is no longer the original Huayi, I don't know if the brothers still remember the movie dream of having nothing.
First place: New Oriental
New Oriental can be said to have fallen off the altarThe most dignified exitof the company.
As the largest "time-honored" education and training institution in the education industry, New Oriental has almost crushed other education and training institutions like a cliff, and many education and training institutions have also participated in the fight in the future, but no institution has ever changed the situation that New Oriental monopolizes half of the sky.
Founded in 1993, New Oriental was originally known as Beijing New Oriental School and was founded by Yu Minhong, a graduate of Peking University, and two other alumni.
New Oriental started by teaching English only, but gradually grew to include exam tutoring, language training, and study abroad consulting for almost all school ages.
Since 2000, New Oriental has begun to deploy nationwide, with campuses covering 108 cities across the country, with a total of 122 schools and 1,547 learning centers.
In 2006, New Oriental was listed on NASDAQ and successfully listed in the United States, and in 2019, New Oriental's ** education business "New Oriental**" was listed on the Hong Kong stock market, and finally in 2020, New Oriental also returned to the Hong Kong stock market.
February 2021,New Oriental's market value reached a peak of 272.1 billion, the stock price reached 158HK$8 per share.
After the listing, with the intervention of capital and large-scale high-speed expansion, the management of New Oriental also faced serious problems, but it did not wait for the company's internal reform to improveThe implementation of the "double reduction" policy directly smashed through the sky of New Oriental
On June 15, 2021, the Ministry of Education issued a notice from the Department of Supervision of Off-campus Education and Training, announcing that it would ban off-campus training during winter and summer vacations on a trial basis.
On July 24, the General Office of the Communist Party of China and the General Office of the Communist Party of China issued the "Opinions on Further Reducing the Burden of Homework and Extracurricular Training for Students in the Compulsory Education Stage", requiring all provinces to report the progress of the implementation of the "double reduction" work every half month, and the double reduction policy was officially implemented.
Education stocks across the board**,New Oriental's share price fell by more than 90%, and even the leader in education and training could not escape falling into the abyss overnight
And New Oriental is really the most dignified exit of the company, on the day the new regulations landed, New Oriental issued a document expressing its resolute support for the decision-making and deployment of the first company.
After New Oriental completely closed down the teaching campuses in various citiesSomething was done that shook everyone
New Oriental surrendered all campuses and then willMore than 200,000 sets of neat and intact desks and chairs were all transported to mountainous areas and donated free of charge to primary and secondary schools in rural areas.
Since then, New Oriental has dealt with all the unfinished business, liquidated all unused tuition fees and returned them to students, and directly gave N+1 severance compensation to 60,000 employees, with tuition refunds and severance payments amounting to nearly 20 billion, and at that time, New Oriental's revenue in 2021 has decreased by 80%.
Many institutions are facing such a collapse and have run away with money, so many people say that in this society where the human touch is becoming weaker, it is really heartwarming to see such a righteous act, which is why many people shouted that they are willing to see Yu Minhong return with the New Oriental team.
It is said that in the early days, New Oriental experienced a refund crisis, because there was not enough money to refund, almost lost its reputation, since then Yu Minhong has asked the company to leave enough money on the books to complete the refund for all students. **Wan Fan Incentive Plan If you don't maintain such an original intention, but also dedicate such a love to the children in the countryside, in the face of such a sudden change, you still leave the field with dignity, I believe that there will be no back, the Jedi counterattack of Dongfang Selection returns.
Once a time-honored brand in the sky, a large enterprise that dominates half the sky,No matter how glorious it is, the collapse of the edifice is only a moment.
Only by not forgetting the original intention and keeping up with market changesDo something that really provides value to the market, and there will always be a day when the tall building will rise again.