The Birth of Shanghai's First Conglomerate

Chapter 157 New Year

The next day.

Chen Pingsheng took Chen An'an to his Tengying Entertainment.

Big-Pee Kid still reminisces about when he first came here to be a little CEO.

After hearing that he was going to the company, he got up earlier than a chicken.

He dressed himself up in a small suit and tie, looking very serious.

Actually, Chen Pingsheng didn't go to Tencent Entertainment, but to Tencent Capital.

He wants to invest this billion yuan as quickly as possible.

Department stores mainly deal with buying and selling.

Chen Pingsheng's logic is quite simple: choose the best products in the same price range and sell them at the lowest price.

Then, the storefront must be your own.

A billion yuan seems like a lot, but it's only enough to open three or four stores.

Park the Bugatti in its designated spot.

As soon as Chen An'an got out of the car, she straightened her collar in a serious manner, and then took out a small mirror from her bag to look at herself.

I wonder where she learned her vanity from.

As the two went upstairs, Bai Xin came to greet them from a great distance.

The Xianyu assistant has already reached the ninth level of Qi Refining.

In understanding the boss's intentions, one must be quick, accurate, and ruthless.

"Uncle."

"Bai Xin, where are you going all the way?"

"I saw a cool sports car from a distance, and I immediately guessed it was you, Uncle."

"Alright, stop flattering her and take her out to have some fun."

Chen Pingsheng handed Chen An'an over to her, and Bai Xin took her to the fourth floor.

Anyway, Tengying Entertainment is bored out of its mind right now, so taking care of the boss's daughter is at least something to do.

If she doesn't find something to do, she'll start to doubt if she's even in the right class.

Chen Pingsheng went up to the fifth floor. A month later, Tenghui Department Store's logistics park was still under construction.

The talent team is almost fully assembled.

The person currently in charge is Shen Chengjun, who was introduced by Tong Zhelan.

With ten years of experience managing department stores, he has quite a reputation in Shanghai's department store industry.

One reason I was able to join Tenghui was because they offered high salaries.

Secondly, the salary is high.

In middle age, one should not talk about dreams; what truly matters is what one earns in their hands.

"Lin Jia, have you found a spot yet?"

"We found a few."

Lin Jia was still in charge of the entire market research department, and naturally, the storefront location was also their responsibility.

“There is a good location outside the South Luoguxiang area of ​​the Second Ring Road. There is a lot of foot traffic, and many people go there for a walk every day. The entire storefront is about 3,500 square meters and is priced at 220 million yuan.”

Buying land and building your own house is too troublesome, and good locations are hard to come by these days.

This ready-made storefront is quite nice.

2.2 million is not too high.

Looking at the materials doesn't really make much sense; you only understand it when you see it in person.

His courtyard house is over there anyway, so it's practically right on his doorstep.

Chen Pingsheng drove there; the Maybach was usually parked at the company.

2.2 million is for a single floor, which is also the first floor.

The newly built office building has six floors, and the upper floors are already being leased out.

The surrounding residential areas are all high-end. It's within the Second Ring Road, and the lowest-priced properties there are already 50,000 to 60,000 yuan per square meter. Where are there any low-end properties left?

not bad.

Chen Pingsheng asked the owner of this place to come out and talk.

They offered a discount of 220 million, and if you pay in full, you can save 10 million.

In addition to this one-story building, he also spent 2.8 million yuan and 1.9 million yuan respectively to buy two super-large prime single-story storefronts in Chaoyang and Haidian districts.

A billion dollars may seem like a lot, but it can be easily spent on commercial real estate.

After spending nearly 700 million here, he injected the remaining 300 million into Teng Hui Department Store's finances.

It's mainly used for purchasing goods and decorating the shop.

As he expected, investing in a Tenghui Department Store with its own storefront would require approximately 3 to 3.5 million yuan.

Then, from renovation to opening, it takes about three months. Renovating a department store doesn't take too long; the main thing is that the initial operation takes some time.

Shen Chengjun really didn't expect that this was how the department store was supposed to operate.

At this rate, how many stores can open in a year!

However, costs have indeed been saved.

God knows what percentage of operating costs physical businesses require rent.

They bought the entire storefront and started operating it. If they still can't manage it well, they might as well just bang their heads against a wall and die.

Especially before opening, they had already spent 30 million yuan organizing a team to conduct research for more than half a year. Finding the cheapest place to source goods was basically a given.

Just three Tenghui Department Stores alone drained his 1 billion yuan fund.

Chen Pingsheng didn't think much of it; at his level, investing in commercial real estate was a given.

Only with more of these assets can a family avoid facing a bankruptcy crisis.

In January, he invested 1 billion yuan, waiting for the place to open.

If things go well, he will try to raise another billion yuan to invest in Tenghui Department Store in the second half of the year.

This year's investment of 2 billion yuan in department stores will mark the initial step in completing the family's century-long plan.

After investing nearly 700 million yuan in its storefront, Tenghui Department Store injected another 300 million yuan in working capital.

Having money really makes everything faster.

As before, according to Lin Jia's investigation, the salary of department store clerks is generally around four or five thousand.

This is the standard for second-tier cities; the standard for first-tier cities is between five and six thousand.

As for Pang Donglai, which boasts the highest industry standards, those are all around seven or eight thousand.

There are also many holidays.

Chen Pingsheng couldn't afford to give his employees so many holidays all at once, but he could offer higher salaries.

Teng Hui Department Store must benchmark itself against Pang Donglai in every way. With such a predecessor as a model for them to learn from, they won't be able to copy it well.

That only shows that the boss wants too much.

You want someone's service but don't pay them a salary, how can that work?

He never skimps on employee salaries.

We'll benchmark against Pang Donglai first, and then adjust accordingly based on profits later.

In short, he wouldn't pay salaries at a loss, nor would he let himself eat his fill while his employees went hungry.

After hearing what he said, Lin Jia and Shen Chengjun felt more at ease.

We will still adhere to the highest industry standards.

His approach to getting kickbacks was particularly effective at Tengsheng Fresh Food.

Almost no one dares to be greedy in the procurement of goods, let alone use their little bit of power to sell inferior goods as superior ones in order to obtain high returns.

The biggest fear when running a department store is having problems with the supply channels.

If this aspect is well controlled and the fresh produce business is also well managed, the department store will basically be 70-80% successful.

Chen Pingsheng was quite confident about opening his department store.

After all, he built Tengsheng Fruits step by step, and this is what he knows best.

This is why he invested his most important asset in department stores.

After working busily at Tenghui Department Store for half a month, I finally managed to sort out the general affairs.

All that's left is to wait for the renovations to be completed, and then we can open for business and start selling normally.

……

After he finished his work here, the luxury car center called.

The 12-seater Coaster he ordered has arrived and was delivered directly to his home.

When asked if he wanted to go and take a look, Chen Pingsheng felt it was unnecessary.

A two-million-dollar car isn't anything special; I bought it specifically to go back home for the Chinese New Year.

My daughter came to the company with me during her vacation, and I haven't paid attention to her for a while, so I don't know what kind of trouble she's caused.

When I went down to take a look, I was almost furious.

Being a junior CEO wasn't enough for her; she even took on the role of a county magistrate with a straight face.

The hat is worn at an angle, and two rows of people stand below.

Its main focus is on silly antics.

"Waaah, Aunt Pei Yao acted so pitifully! Finance, quickly reward Aunt Pei Yao with ten thousand."

"Ah~ Teacher Bai Xin, you actually played a bad woman. You're punished by having to squat ten times."

Chen Pingsheng stood behind her and, without saying a word, gave her a big slap.

Chen An'an was stunned. She turned around and saw that it was her father.

"Dad, why did you hit me? I was very smart before, but you made me not smart anymore."

What nonsense are you talking about?

"There's no nonsense here. It's clearly Aunt Pei Yao practicing her acting skills. I'm playing the young emperor in it."

"You want to play an emperor? You're kidding me."

Chen Pingsheng ignored her and would call her home for dinner every day after get off work. When she passed by Jiang Peiyao, he even asked her if she wanted to go home together at the end of the year.

Anyway, the Coaster can seat eight or nine people.

Jiang Peiyao definitely still wants to go back with him; they're from the same place, which would be much more convenient.

“Okay, An’an will be on vacation at the end of the month, and we’ll go back then. You should prepare in advance.”

Another new year.

Chinese New Year is less than a month away; time really flies.

Tencent Film Studio is also preparing for a holiday. Yang Mi's transfer to another company won't be quick; she probably won't be able to come over until after the New Year.

(End of this chapter)