E-commerce & Instant Retail
The Death of Xin Yi Jia: From 18 Billion Yuan Annual Revenue to Founder Fleeing with 1 Billion Yuan Debt—Who Is to Blame?
As one of the former 'Big Three' supermarkets in Guangdong, Xin Yi Jia seized the opportunity of the industry's booming development but fell before the wave of new retail. Over 22 years, what elegy did it sing for the traditional retail industry? Xin Yi Jia ultimately met one of the most humiliating endings in the wave of supermarket closures. Before foreign supermarkets like Walmart and Carrefour entered China, Xin Yi Jia, which opened its first store in Shenzhen in 1995, was already a representative of discount supermarkets. At its peak, its annual sales reached 18 billion yuan, once ranking alongside China Resources Vanguard and Renrenle as one of Guangdong's supermarket giants.
梁楚童@广州