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Sincere Department Store

Sincere Department Store ( Chinese : 先施百貨 ; pinyin : Xiānshī Bǎihuò ; Wade–Giles : Hsien-shih Pai-huo ; Jyutping : sin1 si1 baak3fo3 ) is a department store under the Sincere Co...

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Sincere Department Store (Chinese:先施百貨; pinyin:Xiānshī Bǎihuò; Wade–Giles:Hsien-shih Pai-huo; Jyutping:sin1 si1 baak3fo3) is a department store under the Sincere Company Limited and one of the oldest department chains in Hong Kong. Prior to 1949, its largest operation was in Shanghai, and along with Wing On (which survives in Hong Kong), Sun Sun (新新公司 1926–1951) and Da Sun (大新公司) was one of the "four great department stores" of Shanghai, and therefore, China generally.[1]

History

A Sincere store in Central, Hong Kong, circa 1941.

Founded by Hong Kong businessman Ma Ying-piu on 8 January 1900 after returning from Australia[2] and partnership with others to form the first Chinese department store in then British Hong Kong.[3] Ma was inspired by his experience with retail stores in Sydney.[4] and modelled Sincere after David Jones.[5] Now, the company is owned by the Ma family.

Sincere's Shanghai branch, operated from 1917 to 1954, was the first Hongkonger-owned Western style department store and the first of the "Four Great Companies". Ma Ying-piu brought the model of modern department stores with egalitarian service pioneered by Anthony Hordern & Sons to Shanghai and quickly became the focal points of Shanghai's commercial district.[6]

Prior to World War II, Sincere operated in China with stores in Shanghai, Nanning and Guangzhou. The Guangzhou store was destroyed by enemy fire during the war. With the founding of the People's Republic of China in 1949 the remaining locations were eventually taken over by the Communist state, along with all other private companies in the country. The Shanghai department store closed in 1954 while the attached hotel was part nationalised in 1956.

Sincere returned to mainland China in 1993 by opening a shopping centre at 479 East Nanjing Road in Shanghai.

On 15 May 2020, Realord Group Holdings Limited proposed a voluntary conditional general cash offer to acquire the entire share capital of The Sincere Company Limited. The total cash consideration would be $500 million.[7]

Post 1997

Sincere store in Citywalk, Tsuen Wan in 2011

Desde 1997, la división minorista de Sincere se encuentra principalmente en Hong Kong, con cuatro tiendas en Hong Kong ( Central : Li Po Chun Chambers; Causeway Bay : Percival Street ) y Kowloon ( Mong Kok : Grand Century Place ; Mong Kok : King Wah Centre ; Sham Shui Po : Dragon Centre ; Yau Tong : Domain ; y Tsuen Wan : Citywalk 2 ); también hay tiendas en China, incluyendo Dalian . La familia Ma aún tiene representación en el consejo de administración (el presidente Walter KW Ma, el director general/ejecutivo Philip KH Ma y el miembro del consejo King Wing Ma), pero la mayoría de las operaciones diarias están a cargo de ejecutivos ajenos a la familia. Sincere es uno de los pocos grandes almacenes que sobrevivieron, ya que muchas empresas extranjeras y locales han desaparecido. Se ha anunciado que Sincere Department Stores cesará sus operaciones a finales de 2025 debido a dificultades económicas.

Más allá del comercio minorista

Hoy en día, Sincere ha crecido más allá del comercio minorista y ha diversificado su cartera:

inversión inmobiliaria y desarrollo inmobiliario

  • negociación de valores
  • Agencia de publicidad –  Publicidad 360 °C
  • Diseño de interiores – Pacific Falcon Design
  • Fabricación de muebles – Muebles Sincere Living
  • Franquicias de agencias de viajes – Uniglobe Travel

Referencias

  1. ^ Archivos Municipales de Shanghai (2010) Precursores de los grandes almacenes chinos modernos: materiales de archivo recopilados de los cuatro grandes grandes almacenes de Shanghai (《近代中国百货业的先驱——上海四大百货公司档案史料汇编》) Shanghai Librería Press, Shanghai
  2. ↑ "Shanghai Fashion Holdings Limited" . Archivado del original el 31 de marzo de 2012.
  3. ↑ "The Sincere Company Ltd" .
  4. ↑ "Los hermanos Guo y la compañía Yong an" . Archivado del original el 17 de agosto de 2011. Consultado el 30 de agosto de 2011 .
  5. ↑ "Piensa en positivo: sincera de nombre y filosofía durante 110 años" . Marzo de 2010.
  6. ↑ Los centros comerciales difunden el evangelio desde Australia Sydney Morning Herald 5 de febrero de 2010
  7. ↑ "Oferta voluntaria en efectivo precondicional de Realord Asia Pacific Securities Limited en nombre de Realord Group Holdings Limited para adquirir todas las acciones emitidas de The Sincere Company Limited" (PDF) . 15 de mayo de 2020.
  • Sincero
  • The Sincere Company, Limited – Información corporativa (5 de mayo de 2007)
  • The Sincere Company, Limited – Información corporativa (26 de septiembre de 2019)