Peter Lynch smiled and said: "This company happens to be in California, and the store in San Francisco is exactly within fifty meters of our company, so it can be discovered, and the model of this company's warehouse-style membership store is their original, the only one in the world, and the company observes and analyzes that it can try to invest." ”

Xia Yu bowed slightly to express his understanding, but in any case, it is worthy of praise for listing this unlisted company.

He was also a little curious about what was going on at this time about the future second-largest retailer in the United States and one of the top 500 retail giants in the world, which had different names at this time and had not yet transformed.

With some anticipation, Xia Yu browsed carefully, and the corners of his mouth couldn't help but curl.

PriceClub！

The Chinese translation is Price Club.

The company was founded in 1976 by brothers Saul and Robert Price and is headquartered in San Diego, California.

This company's business philosophy is very unique, through the establishment of a shopping club, gather the scattered purchasing power of individual members, and unify the large quantities of orders to manufacturers, which not only saves distribution costs, but also achieves scale effect, which is a bit similar to the domestic group buying middlemen in later generations.

It's just that because of capital constraints, the Price Club Store has no superfluous decoration, almost no advertising, and is set up in a convenient location to save costs.

And at present, it mainly serves small businesses, which is why there is such a store 50 meters from Polaris Capital, which happens to be a dense area of enterprises and has very convenient transportation.

"Costco hasn't appeared yet, it's just a Price Club store in the early stage, and the volume is really small enough!"

A smile flashed in Xia Yu's eyes, and he thought in his heart.

It is better to be small, as long as the model is fine, then it has the value of capital catalysis.

Now the volume is small, but it is easy to acquire and the cost is low!

And most importantly, Xia Yu really took a fancy to the talents in Price's Club, that is, he came out of it and created a real Costco talent.

The future founder of Costco should still be the executive vice president of the Price Club at this time!

Speaking of which, we have to say that Costco has experienced twists and turns.

The founder of Price Club, Saul Price, was a pioneer of modern supershopping centers, and founded the first discount store Federmar in 1954, but it did not do well and closed down due to low profits.

Saul Price then summed up his experience and lessons and figured out the model of a membership-based shopping club, which led to the opening of Price Club in 1976.

As for the real Costco, it was founded in 1983, and the founders were not the Price brothers, but Jim Zinganel and Jeff Blotman.

Jim Zinganel was an employee of Fedemar in 1954 and was a subordinate of Saul Price, who he followed despite the collapse of Fedemar later.

After the appearance of Price's Club, he continued to work for the new company and, thanks to more than two decades of experience, became executive vice president within two years.

As for Jeff Blotman, he is not Saul Price's old subordinate, but a management elite who joined after Price's club appeared.

Saul Price created a membership-based store model that inspired Jim Singanel and Jeff Blotman.

It wasn't until 1983 that Jim Zinganel and Jeff Blotman, who could no longer hold back their entrepreneurial aspirations, quit their jobs together and moved away from California to the eastern part of the United States, where Price Club had not yet set foot in the United States, and created a real warehouse membership hypermarket in Seattle, Washington - Costco!

Costco's model is a further optimization of the Price Club model, and the area of a single store is much larger than that of Price Club.

After only two years of development, Costco expanded beyond the United States and opened its first overseas store in Canada.

In 1993, Costco merged with Price Club, and the real Costco company appeared.

Now, Costco has not yet appeared, but it doesn't matter, the important thing is that Xia Yu is very clear about Costco's business model.

Later generations of Wall Street capitalists have long studied Costco's model thoroughly, and only in this way can they dare to hold it for a long time, so it is not surprising that Xia Yu knows its model.

The model is known, and the founder of Costco, who has more than 20 years of work experience and management ability, also happens to be at the Price Club and serves as executive vice president.

As long as the Price Club is taken down, Costco's two founders will naturally not be able to escape.

As long as Xia Yu gets Costco out in advance, arranges for the two of them to operate, and then makes the promise of options, the two of them can't run out of Xia Yu's palm.

As long as they are tied up, then there is no need to worry about other competitors.

To be honest, for Costco, Xia Yu admires it from the bottom of his heart, this is an alternative path, and it has great potential.

Wal-Mart is a traditional retailer, but the Walton family has done the best in management and operation, and made full use of the technology of the times, so that Wal-Mart has always maintained its vitality and become the world's largest retail giant, with an annual turnover of more than 400 billion yuan and nearly 500 billion US dollars.

But what about Costco?

There are only more than 700 stores in the world, which is only about 6% of the total number of Walmart stores.

But the turnover is a quarter of Walmart's!

The net profit is close to about one-third of Wal-Mart!

There will be such a gap, it is determined by the model.

However, this is not to deny Wal-Mart, after all, the number one in the world is the number one in the world!

As for Wal-Mart, it has now made up its mind to take a large stake, and of course it would be great if it could be fully acquired and privatized.

But Xia Yu also knows that this is unrealistic, Wal-Mart is controlled by the Walton family, and it is the only industry, and it will never be sold to Xia Yu.

Even if it is sold to Xia Yu, they will make a comeback, and it will be a huge threat at that time.

Xia Yu is not confident enough to let Wal-Mart, which has lost the Walton family, develop better than the original trajectory.

But in any case, it is still possible to be the biggest beneficiary outside of the Walton family.

As for the Price Club and the future Costco, since it is not listed, of course, it is a direct wholly-owned acquisition, and no matter how bad it is, the two founders of Costco will be poached and started by themselves.

As long as you hold Walmart and Costco, it doesn't matter if other retailers don't touch it.

Although most of the current retail giants can develop to future generations, the potential is just like that, and the market value of more than 30 years has increased by one or two times, Xia Yu is too lazy to fight with big consortia for this kind of company.

For example, Kroger, although the annual revenue of later generations also reached 100 billion US dollars, which is comparable to Costco, but Kroger, which was founded in 1889, has long been under the command of large conglomerates, and Kroger in later generations, limited by management and model, is high in revenue and low in purity, and the market value is only more than 20 billion US dollars, which is less than one-fifth of Costco.

Now controlled by the Chicago consortium, the "king of department stores" Sears Department Store, which is the "king of department stores", has fallen into bankruptcy in later generations.

Shaking his head slightly, dissipating the miscellaneous thoughts in his mind, he focused his attention on the material again.

He flipped a few pages and found the Dyton Hudson Company, which had a market value of only $370 million, and took a pen and ticked it here.

In addition to Walmart and Price's Club, this company is the most suitable place to start.

Dayton Hudson Company, founded in 1962, was founded in the same year as Wal-Mart, and its market value is hundreds of billions of dollars higher than that of Wal-Mart.

In the future, Dayton Hudson will be renamed Target, and it will also be one of the world's top 500 companies in the future, ranking more than 100 and with a market value of 50 to 60 billion US dollars.

Now the market value is only 370 million US dollars, and there is still room for appreciation of one or two hundred times, which is the largest potential except for Wal-Mart and Price Club.

These three goals are all the world's top 500 companies in the future, and they are ranked extremely high, one is the world's first, one is the world's top 50, and one is more than 100 in the world!

With these three companies, Xia Yu's retail layout will be as stable as Mount Tai.

What's more, there is also the world's No. 1 Home Depot company in the field of home furnishing retail in the future, which is simply not too stable!

If there are a few more in other fields such as medicine and home appliance retail, the Jiuding Consortium will be invincible.

After circling it, Xia Yu handed the materials to Peter Lynch and said to him: "I have circled three companies, namely Wal-Mart, Dayton Hudson Company and Price Club, of which all companies have been abandoned. ”

"Wal-Mart and Dayton Hudson Co. are buying as much equity as possible, and it would be best if they could achieve a controlling stake. ”

"As for the Price Club, you ordered someone to form an acquisition team and make every effort to make the acquisition, but I have one requirement, that is, the middle and senior management team must be complete!"

Peter Lynch's face was grim and he nodded in response, "Okay!"

PS: I'm sorry for working overtime, the update is so late, sorry!