After Citi contacted Wal-Mart again, Chen Zhiwen and his team were also invited by Sam Walton. As Chen Zhiwen expected, the founder personally intervened. After all, 10% of the shares were acquired by outsiders, although the Walton family held More than 50% of the stocks, but the shares are also scattered. Who knows what will happen in the future? In American dramas, there are many contradictions among wealthy families.
The aviation industry in the United States is very developed. Like the domestic high-speed rail in later generations, no one is better, only one is more suitable for the national conditions. The United States, with its large land and small population, is naturally suitable for the aircraft industry. Not to mention, the American Boeing is the largest aircraft in the world. Manufacturing companies, even in the 1970s, had many models that were unique.
New York is not far from Arkansas. It only takes 2 hours of flight to reach the destination.
Wal-Mart attaches great importance to Chen Zhiwen and his party, and specially arranged two commercial vehicles to receive them.
"This car?" Chen Zhiwen said with a frown as he looked at the two cars in front of him that were much taller than one person.
"Mr. Chen, what's wrong?" A somewhat sensitive American security guard asked when his boss stopped here.
"It's nothing, let's get in the car." Chen Zhiwen waved his hand and said, "Danny, what kind of car is this?"
"Is this a Ford commercial vehicle? This type of car is relatively rare in big cities like New York and Los Angeles, and may be more common in other places." Danny explained.
"Business car? Okay." Chen Zhiwen nodded. After getting in the car, Chen Zhiwen felt as if he was sitting in a later Iveco.
"Chen Sheng, what's wrong? Is there any problem?" Assistant An Qi asked.
"Nothing, just get in the car." Chen Zhiwen smiled and motioned for everyone to get in the car.
After everyone was in place, the two commercial vehicles started. The vibration below made Chen Zhiwen feel that he was riding in a truck or a bus.
Chen Zhiwen asked Danny again: "Danny, is there a model called MPV in the United States now?"
"MPV? Never heard of it." Danny thought for a while, then looked at the other Americans around him, and they all shook their heads in denial.
"OK, it's nothing, maybe I remembered the name wrong." Chen Zhiwen nodded and said. MPV may not have appeared yet. In his impression, the founding company of MPV should be Chrysler Corporation in the United States, and its project initiator is Lee Iacocca, one of the most powerful CEOs in American history.
The current second-in-command at Ford would be fired by Ford a few years later, and then joined Chrysler, which was almost bankrupt at the time, and became the latter's CEO. Then within 4 years, he turned the almost bankrupt company into a loss-making company. In the fifth year, the net profit reached US$1 billion, and the project with the greatest credit was the emergence of the world's first MPV.
It's just that this prophet seems to be of little use. Let alone an MPV, even a motorcycle cannot be built by Chen Zhiwen.
Wal-Mart's headquarters is in Bentonville, Arkansas, which is neither small nor big. Even in the United States, most people don't know this city, but it gave birth to one of the most powerful companies in later generations - Wal-Mart Supermarket. .
After half an hour of driving, the team arrived at a six-story building in the suburbs of Bentonville. Sam Walton's office was on the sixth floor, and it was here that he met Chen Zhiwen.
"Hello, Mr. Walton." Chen Zhiwen saw this little old man who would become the richest man in the United States in ten years. If he hadn't met here, no one would have thought that the man in front of him who looked like a farmer would be The owner of a medium-sized supermarket chain.
"Call me Sam, Mr. Chen." Sam Walton said boldly.
"OK, then Sam, you can call me Eric." Chen Zhiwen said with a smile.
"Please sit down, Eric." Sam Walton said with a smile, while also making coffee for Chen Zhiwen himself.
"Thank you very much." Chen Zhiwen said after taking the coffee.
"These are coffee beans that I grow myself. I prefer pure agricultural products rather than imitating industrialized agriculture." Sam Walton said.
Chen Zhiwen took a sip and said, "It tastes very good, but doesn't our supermarket industry rely on industrialized agricultural products?"
"That is to save time for customers. Not everyone can have enough time to do what they want to do like us." Sam Walton said.
"That's true." Chen Zhiwen nodded. Although many bosses are very busy, often even busier than workers, this is the life he chose. He chose to be "busy", while most workers are not. Those who choose can only passively accept it, which is still very different.
"Eric, why did you choose to invest in Wal-Mart? Your investment in Wal-Mart is not a small amount. This money can be invested in many industries." Sam Walton asked with a smile.
"Because I am optimistic about the supermarket industry and Wal-Mart's business model." Chen Zhiwen said with a smile. A stock can increase 4,900 times within 27 years after it was listed. This can be said to be the biggest miracle in the history of human business. Many technology companies in later generations have This cannot be done because the market capitalization and valuation of many technology companies are already high when they go public.
Wal-Mart Supermarket went public in 1970. By 1997, it ranked first in the world in terms of market value, close to 300 billion U.S. dollars. It had increased 4,900 times since it was first listed, with an average growth rate of 37% per year. It was stronger than Buffett’s investment, and it was normal. Stocks tend to rise higher when the amount is small, and the same goes for Wal-Mart stocks. Therefore, Chen Zhiwen's stock more than doubled in less than two years of investment.
Of course, Chen Zhiwen's large amount of funds entering the acquisition may also increase the rise of Wal-Mart's stock.
"Which Wal-Mart model does Eric think is good?" Sam Walton asked with a smile.
"Small profits but quick turnover." Chen Zhiwen said calmly: "Whether it is in the United States, Europe, or Asia, where the economy is developing, the future retail industry will be based on small profits but quick turnover. Only the retail companies that are best at controlling costs will make profits. Only by giving the maximum amount to consumers can we win the final victory.
Wal-Mart has followed this route since its early days. It chose to build supermarkets in suburbs to reduce its gross profit margin and increase sales. This is the main reason why Wal-Mart has been able to develop to its current scale. Especially after the oil crisis, the income of Americans was seriously affected. However, daily consumption has increased significantly due to the price of oil and basic supplies. Consumers also need high-quality and low-priced supermarkets. "
"So it was because of the oil crisis that Eric decided to invest heavily in Wal-Mart's stocks?" Sam Walton nodded and asked with a smile.
(End of chapter)
