Wangfujing Duty Free business management team unveiled

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DFE Shanghai exclusive news, Beijing Wangfujing Duty Free Management Limited Liability Company  has completed the formation of its management team in early August. 

On June 10, 2020, Wangfujing Group Co., Ltd. (Stock No.600859) issued an announcement on of obtaining the duty-free business qualification. Then following the establishment of Beijing Wangfujing Duty Free Management Limited Liability Company （as "Wangfujing Duty Free"）on July 6, 2020, with a registered capital of RMB500 million yuan, and the relevant preparatory work began quickly.

Mr. Shang Xiping, the President and Director of Wangfujing Group, is the general manager of Wangfujing Duty Free; Group Vice President Ms. Zeng Qun is the Deputy General Manager of Wangfujing Duty Free and is responsible for duty-free business policy, government communication , Human resources, and coordination of group internal resources etc. Airborne executive Mr. Tiger Li Wenxin served as the Deputy General Manager, responsible for the duty free commodity center, operation center and other duty-free operation related projects.

Mr. Shang Xiping, the General Manager, has served successively since 1988 as a marketing clerk, deputy manager of the merchandise department of Beijing Dongan, deputy director of the office of Beijing Chang’an Department Store, manager of the department store, and director of the business department, executive deputy director of Wangfujing Retail Department, and general manager of Changsha Wangfujing Manager, Taiyuan Wangfujing general manager, Fuzhou Wangfujing general manager. Since June 2011, he has served as Vice President of Wangfujing Group Co., Ltd. From February 2017 to December 2019, he served as the executive vice president of the group. From December 2019, he served as president and director.

Deputy General Manager Ms. Zeng Qun, graduate degree holder, economist, CPA, and CPV. The current vice president of Wangfujing Group Co., Ltd. From May 2000 to February 2013, Ms. Zeng served successively in the Enterprise Reform Division of the Beijing Municipal Economic Commission, the Reform and Development Division of the State-owned Assets Supervision and Administration Commission of the Beijing Municipal People’s Government, and the Enterprise Reform Division. From March 2013 to September 2013, Deputy General Manager of Beijing Wangfujing International Business Development Co., Ltd., Director of Beijing Wangfujing Dongan Group Co., Ltd., Deputy General Manager, Secretary of the Disciplinary Committee, and Party Committee Member of Wangfujing Group since September 2013, and Wangfujing since February 2019 Member of the Party Committee and Vice President of Jing Group.

Deputy General Manager Mr. Tiger Li Wenxin, graduate degree holder, worked in CDFG for 8 years from 2003 to 2011, developed CDFG’s international cosmetics projects in airports shops (duty-paid) in Guangzhou, Shenzhen, Xiamen, Nanjing, and used to be a member of the preparatory team of the CDF Sanya Haitang Bay project, and participated in the preliminary planning, with rich experience in duty-paid and duty-free markets.

In 2011, Mr. Tiger Li Wenxin served as the Deputy General Manager of the Brand Merchandising Center of Wanda Headquarters and assisted Wanda Group in establishing two high-end positioning projects, Changsha Kaifu Wanda and Wuhan Hanjie Wanda, and facilitated the cooperation between Wanda Group and light luxury and international cosmetics brands. From 2016 to July 2020, Mr. Tiger Li Wenxin served as the General Manager of the Commodity Department of Parkson Group. He founded the Changsha IFS and Qingdao Mixc PARKSON BEAUTY projects, and started the development of the Parkson Group BEAUTY project in the shopping mall channel.

DFE comments: The core elements of the success of China's duty-free retail business are policies (licenses) and actual supervision, and sourcing capabilities and operational abilities. For Wangfujing Group, which is newly granted a duty free license, an efficient and professional duty-free operation team will lay a solid foundation for the upcoming duty-free retail business. 

(1) The General Manager of the Group takes charge of the duty-free business from scratch, showing that the Group attaches great importance to the duty-free business and ensures that the group's internal full support to the development of duty-free business with high efficient.

(2) Ms. Zeng Qun, as the Group Vice President with government working background, is responsible for duty free policy and government communication to ensure that the duty-free retail business with strong government supervision features has a good operating environment.

(3) Mr. Tiger Li Wenxin, VGM, who is in charge of the duty-free commodity center and business operations, has extensive brand merchandising and operation management experience in both China duty-paid and duty-free markets. Mr.Li has in-depth cooperation and operating experience with brands of perfumes and cosmetics, fashion and other commodity categories. Mr. Li will greatly enhance the sourcing, buying and operation capabilities of Wangfujing Duty Free business.

Wangfujing Duty Free VGM Mr. Tiger LI

Wangfujing Group has been operating retail business in China for 65 years (since 1955). Based onits rich operating experience and accumulated consumer data in China’s duty-free market, it will gain unique marketing synergies in its future duty-free retail business; a top-tier brand comments to DFE, if Wangfujing Duty Free can work closely with brands at customer servie level to provide Chinese consumers with cross-channel and cross-regional in-depth customer service, it will bring WangfujingGroup a unique development potential in duty-free business.

Currently Wangfujing duty-free team is conducting intensive research on the implementation of the group's first duty-free project. Will it eventually be the duty-free project in Wuhan as reported earlier? Or the latest popular Hainan offshore  duty-free project? Or other possibilities? Wangfujing will tell us soon after their completing the investigation. DFE will keep you updated. 

Find more news about Wangfujing Duty free below,  

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