The conflicts of the Lauder family are mainly focused on Leonard, his younger brother Ronald, and his son William.

As early as the beginning of the listing of Estee Lauder, his younger brother Ronald owed more than $200 million in debt because of his enthusiasm for politics and art investment.

Later, Ronald sold more than $100 million in shares at the critical moment of the CEO change of Estee Lauder in 2011, which aroused suspicion from the outside world.

Not only financial issues, but Ronald and Leonard have also had many disagreements on corporate decisions.

At a 2007 meeting to discuss the acquisition of the ALES Group, Ronald expressed support for the $500 million to $600 million acquisition of ALES to help the company break into the mass market. Leonard said that there is no need, Estee Lauder only makes high-end products, and never makes those cheap products.

William, who was already CEO at the time, could only go back and forth. This also exposes that William does not have much say and decision-making power on the board.

As the third generation of the family, William believes that the company is too dependent on department stores and needs to expand its channels such as chain stores and online stores, while his father Leonard still believes that maintaining a good relationship with department stores is the most important thing.

In 2011, the company's performance declined for the first time, and the Lauder family had to make changes.

In this year, William, who was deeply constrained, set his sights on the outside world, hoping to find a manager who could be recognized by the Lauder family.

Eventually, Fu Yide, who had worked at Procter & Gamble for 23 years, became William's successor and took on the position of CEO of Estee Lauder.

But William's decision also caused great dissatisfaction among his father and uncle, who felt that it was too incredible to hand over their family's company to an outsider to manage.

During this time, the company's board of directors was even more chaotic, and every meeting was a battle, and everyone was dissatisfied with the performance of others.

On the board of directors, the members of the Lauder family are basically the members of the Lauder family, and everyone has a lot of shares in their hands, and the current chairman William has no ability to make a final decision.

Because, his father Leonard and uncle Ronald both have more shares in their hands than him!

In addition, the market performance of Estee Lauder in the past two years has not been very good, and the market value has fallen from more than 50 billion US dollars at the peak in previous years to more than 30 billion now.

The once monolithic Lauder family is on the verge of falling apart.

Therefore, Wang Ye believes that now is the best time to acquire Estee Lauder!

If you miss this time period and wait until the company recovers, then it will be too expensive to buy it later.

……

"But Estee Lauder's market value is now more than $30 billion, and our fund can't afford it. Frederick said worriedly.

"We don't need to take full ownership or take it private, we just need to get enough shares and have a say on the board. Wang Ye explained with a smile.

Some companies must have an absolute controlling stake or have few shares but a large voice, such as Huayou Group, such as Fuhua Cosmetics Company, and Meigo.com.

However, some companies only need to hold a certain number of shares and have a say on the board of directors. For example, Shiseido, Amorepacific.

"You should know the shareholding structure of Estée Lauder, their family holds 87% of the voting rights, and it is very difficult to have a say on the board of directors. Frederick shook his head and smiled bitterly, it is really not easy to start with this kind of company with different rights of the same shares.

"That's not a big problem, it's good to start directly from within them, not everyone wants to live with a little equity in Estee Lauder. In addition, since this equity structure can be built, it can also be demolished......"

Wang Ye didn't think it would be too difficult.

The two discussed the details again, and decided to let Frederick's side set up the line first, find out what some members of the Lauder family think, and then do it.

……

On January 2, Wang Ye stepped on the plane and returned to Pengcheng.

I didn't have much rest, and the day after I went home, I went back to work, and now it's a new year, 2013.

Every January, we have to make a summary of last year, and then look forward to the coming year.

Of course, each branch executive has to report to the board of directors, last year's performance was much easier, if last year's performance was not satisfactory, you have to consider how to pass this hurdle.

On January 5th, the day of the board of directors of Meigou.com, CEO Xu Jing made a work report to the directors at the board meeting.

In 2012, Meigou made too many big moves.

Went public in the U.S., launched a mobile app, opened a clothing zone, acquired Watson's personal care chain, and acquired shares in Shiseido and Amorepacific.

Oh, and it has to be mentioned that with the help of Watsons' existing channels, Meigou has successfully stepped out of the domestic market and has launched business in more than 10 countries and regions in the Asia-Pacific region.

Although it is just starting out, the market share and revenue are not very high, but this is a good start, isn't it?

In 2012, smartphones began to become popular, and users began to shift from computers to mobile phones.

In the field of e-commerce, the current top three, if calculated according to the number of users, Taobao Tmall is naturally the first, followed by Meigo.com, and the third is JD.com.

But at present, only Taobao and Meigou have launched mobile clients, and JD.com has not kept up.

Although the number of users of Taobao is much more than that of Meigo.com, if only the number of mobile client users is counted, Meigo.com is ahead.

This is because when Meigou launched the client, it invested heavily in promotion, so the rate of users transferring from the computer to the mobile phone is also the highest, as high as more than 90%!

When Taobao first launched the mobile client, it didn't pay much attention to it, and the price of goods purchased on the computer and mobile client was the same.

In addition, compared with the computer web version, the mobile client has a lot less functions and everything, so customers are not used to it, and the conversion rate is relatively low.

"At present, the number of registered users of the computer version of Meigou has reached 280 million, and the number of registered users of the mobile client is 260 million. In the e-commerce industry, the number of users of our web version is currently second only to Taobao's 360 million, and ahead of JD.com's 170 million. ”

"In terms of mobile clients, we are the first in the e-commerce industry, with 260 million users. Taobao is 230 million, and Jingdong's client is reported to be launched around the Chinese New Year, but there is no one for the time being. ”

Xu Jing stood in the large conference room and spoke loudly to the shareholders.

The number of registered users is the most important data for Internet companies, even above revenue, so Xu Jing also put this item at the forefront to report.

The users of Meigou are still mainly women, so there is no comparison with Taobao in terms of the number of users.

But this is also the positioning that Wang Ye determined when he founded Meigou.com, focusing on providing high-quality products for the majority of female consumers.

This not only has a clear positioning, but also avoids direct competition with Taobao.

……

Next, the importance of the work reported by Xu Jing is still above the annual revenue, because its strategic significance is not how much the annual revenue can be compared.

That is the integration of Watson's personal care chain channel and the expansion of Meigo.com in the Asia-Pacific region.

This offline channel has nearly 2,000 stores in the Asia-Pacific region.

After being acquired by Meigou.com, it also began to slowly de-"Watsons", and in the mainland market, all stores were renamed as "Meigou personal care chain stores".

In the Asia-Pacific region, because the popularity of Meigou is not so high, it has not completely changed its name, but has adopted the name "Watsons & Meigou" in a transitional manner.

Because of the use of Luo Jun, a person who is very familiar with Watsons, the store sales were not chaotic during the transition period after the acquisition.

Luo Jun, with his old subordinates, quickly took over the entire channel, and completed the overwork without panic, and the sales of the store were not affected.

Moreover, relying on Watsons' offline channels, Meigou has successfully entered more than 10 countries and regions.

Although the newly opened Asia-Pacific market does not contribute much to revenue, the impact is completely different.

In the past, when it came to Meigou.com, it was only crowned as "the leading platform for cosmetics e-commerce in China", but now it is different, and it can be boasted as "the first cosmetics e-commerce platform in the Asia-Pacific region"!

Don't underestimate this, because it represents potential, and there is a ceiling to the potential of a single country and market, and there is also a ceiling to revenue.

But what about a continent?

That's an order of magnitude increase!

It can even be inferred that if Meigo.com can gain a firm foothold in the Asia-Pacific region and perform well.

So in the future, whether it will go to the world is a different concept.

Therefore, in the stock market, although the share price of Meigou has not climbed significantly, it has been growing steadily.

The market capitalization has never been less than $100 billion.

……

The third part is the total revenue of this year.

This is also the part that Xu Jing feels proud of, many Internet companies, especially e-commerce platforms, let alone making profits, even if they lose a little, they feel that they are making a lot of money.

But the U.S. shopping network is different, since the date of its creation, the U.S. stock network has not lost money!

Especially now, profitability is increasing.

In FY2012, the main part of the U.S. shopping network was in addition to the offline channel of Watsons, and also excluding the profits contributed by Amorepacific and Shiseido, two shareholding companies.

The annual revenue reached 82 billion yuan!

Annual revenue growth of up to 106%!

This is due to the significant increase in the number of brands sold online this year.

Last year, there were only Modu Jiahua and Flower Story, and some of the brands of Estee Lauder that were represented.

But this year, in the Shiseido zone, dozens of brands have settled in.

Amorepacific Zone, Dozens of Brands Settle In!

In the clothing area, Huashang brand and preferred products are settled!

That's the big deal.

Shiseido was originally a very well-known brand, but in the past, sales were tepid, perhaps because of the channel.

However, as soon as the section was opened on Meigou.com, sales exploded.

Because many times, people may want to buy a certain product or a certain brand, but because they don't know where to sell it or it is more troublesome to buy, they are too lazy to buy it.

This is the case with Shiseido, which has been operating and advertising for many years, making this company quite well-known in the minds of domestic consumers.

But the embarrassing thing is that the channel is relatively poor, and many people only hear its name, but don't know where to buy it.

Now that we have opened a special section on the U.S.com website, it is the site with the highest concentration of female consumers in the country, and it can be said that all of Shiseido's potential customers are here!

This is the power of the e-commerce platform leader!

You only need to start a brand zone, and your products will be seen by all potential consumers across the country, so will you still worry about sales?

……

Amorepacific and Shiseido are different.

At first, Shiseido exploded at the same time when the two brand zones were launched, but Amorepacific was tepid.

Because of its brands, the popularity in China is not high, and only some niche fans know about it.

But later, with the popularity of Korean dramas and the wide spread of entertainment programs, the "cold snap" really came.

Not only Korean entertainment stars have become popular in Korea, but cosmetics such as Amorepacific, which are widely known in Korea, have also become popular.

Amorepacific's products are selling well, and the rate is getting faster and faster!

According to Xu Jing's estimate, within three months, Amorepacific's sales will surpass Shiseido and Modo Jiahwa to become the second largest existence after Flower Story.

……

In addition to the main business of Meigo.com, the revenue contributed by Watson's offline channels should not be underestimated.

There are more than 1,800 offline stores, and the annual sales have reached more than 20 billion!

Combined, the annual revenue of these two major sectors is more than 100 billion yuan.

As for profits, the financial department has not yet calculated accurate figures, but through estimates, there is at least 40% gross profit, and net profit will not be less than 15%.

A company with a market value of 100 billion US dollars has a net profit of more than 10 billion yuan, which seems to be a bit less.

If it is placed on traditional enterprises, once this financial statement is made public, the stock price will usher in a cliff-like dive.

But this is an Internet company, in the context of Amazon's huge losses and Taobao's annual profit of tens of thousands of yuan to be celebrated, this performance of Meigou is particularly rare.

Of course, the overall revenue of Meigou is more than that.

You know, it also owns more than 30% of the shares of Shiseido and Amorepacific.

Those two companies also have a lot of annual revenue, and they are also tens of billions of dollars.

……

"2012 was a great year for Meigo.com!

In this year, our company has completed a gorgeous turn, from a single cosmetics e-commerce platform, to a collectivized and large-scale enterprise, and has gone abroad to show our style to the world!

In 2013, Meigou will make persistent efforts, on the one hand, to consolidate the foundation of the domestic market, on the other hand, to focus on the international market, and strive to become a world-wide, great enterprise!"

Xu Jing made the above summary with a spring breeze on her face, and the applause in the conference room was like thunder, not only for her, but also for Meigo.com and Wang Ye......