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Written by: Chen Jingqi
2020-05-16 23:31
Date of last update: 2020-05-16 23:34Local veteran department store Xian Shi announced yesterday (15th) that it was acquired by Uifang Weilu Group for 500 million yuan. Looking through the information, Xianshi is one of the oldest department stores in Hong Kong. It was founded by Ma Yingbiao in 1900 and has operated in Hong Kong for more than 100 years. From the 1930s to the 1940s, with the other three Chinese-funded companies at that time including Yongan Company, Dah Sing Company, and Zhonghua Department Store, it was known as the "Four Major Department Stores".
However, among the above four department store groups, Dah Sing and China Department Store have disappeared from Hong Kong. In the 1980s and 1990s, Japanese-funded department stores were in full bloom in Hong Kong. Eventually, they closed their business and changed their ownership. Only AEON remained for the "Japanese".
Xianshi was fully purchased by the Chinese company Weilu Group, and currently has 5 branches in Hong Kong. (Photo by Liang Huanmin)
Sincere Group (Sincere) is mainly based on retail business, the name of "Xianshi" is adhering to the "Xianshi Yicheng" business approach. The first Xianshi department store is located at 172 Queen's Road Central, Central. At present, Xianshi has five branches located in Central, Mong Kok, Sham Shui Po, Tsuen Wan and Yau Tong. It is managed by Ma Jingxuan, the executive chairman and chief executive officer of Xianshi, who is the descendant of founder Ma Yingbiao. As of August 31 last year, the group had a total of 289 employees.
Xianshi Department Store is the first retail company in Hong Kong to launch the best price (that is, no bargaining). It is also the first organization with a saleswoman and a company that issues receipts to customers. If there is any damage to the product or the customer is not satisfied with the product, the receipt can be replaced.
The late artist Liang Shunyan, who is known as the "superior", was the "perfume queen" in the perfume department of the first department store before joining the performing arts circle.
The late artist Liang Shunyan was a "perfume queen" in the perfume department of Xianshi Department Store before joining the entertainment industry. (Profile picture)
First enlighten Guo Le Guo Quan's two brothers to open Wing On Department Store
At that time, the Xianshi department store business was very good. The brothers Guo Le and Guo Quan saw that there was room for development, so they founded Yongan Department Store in 1907. The first store is located near Xianshi Department Store. Wing On Department Store also has a long history and is the second largest Chinese-funded department store in Hong Kong. Wing On Department Store once had many branches in Hong Kong, covering the New Territories of Hong Kong and Kowloon, including Causeway Bay, Wan Chai, Mong Kok, Tsuen Wan, Aberdeen, etc., but since then closed down to the present only four branches, located in Des Voeux Road Central, Nathan Road, Mody Road in East Tsim Sha Tsui and Discovery Bay on Lantau Island. As of December 31 last year, Yongan Group had a total of 648 employees.
Dah Sing Department Store closed in the 1970s
Dah Sing Department Store was founded in 1912 by Cai Chang Brothers with a capital of HK $ 4 million. It was named Dah Sing The Sun at the time, which meant that the company was able to "rise early and show new talents." At that time, Dah Sing also adopted the strategy of "first price" and Yongan's "not two prices", and paid attention to the quality of goods and not selling inferior goods, so the business was very prosperous. However, after founder Cai Chang died, Dah Sing was purchased by Junlong (Hong Kong) Co., Ltd. in 1972. Soon after, it merged with the Hong Kong construction company "Gongwa Enterprise Co., Ltd.". After the merger, in 1973, the Dah Sing Department Store in Des Voeux Road Central was officially demolished, and the department store business was also ended.
As for the Zhonghua Department Store, also known as Xinxin Department Store, it was founded in 1932 by Huang Huannan, Liu Xiji and Li Minzhou, and closed in 1970.
Yitian Department Store, formerly known as Xitian Department Store, is currently owned by Sun Hung Kai Properties. (Profile picture)
Japanese-owned department store-related withdrawal or change hands leaving only AEON
Hong Kong's department stores boomed in the 1970s and 1980s. In addition to local brands Xianshi, Wing On Department Store, Zhonghua Department Store, etc., a large number of Japanese department stores have also entered Hong Kong, including Daimaru, Matsuzakaya, Sogo, Mitsukoshi, Tokyu, Isetan, Yaohan, etc. ; And British-owned Lane Crawford, Martha; Chinese-funded Yuhua and Zhongyi.
However, in the 1990s, there was a financial crisis in Asia, and many Japanese companies, including Yaohan, Matsuzakaya and Daimaru, had financial difficulties and closed down one after another. Some Japanese companies, such as Zuoguang Department Store, were acquired by Huazhi in 2000, and then transferred to Lifu International; Xitian Department Store was sold to Sun Hung Kai Properties in 2005 and renamed Yida Department Store in 2008; UNY and Qianse Store were sold to For Henderson, only AEON is an authentic Japanese department store.
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Xianshi Department Store Retail
