Rainbow Department Store Co., Ltd
Rainbow Department Store Co., Ltd
Rainbow Department Store Co., Ltd (hereinafter referred as to Rainbow) is a Sino-foreign joint venture chain retailer whose holding shareholder is AVIC International Shenzhen Company Limited, a wholly-owned subsidiary of AVIC International Holding Corporation. With cost-effective business extension and sustainable development as principles, Rainbow strives to be a first-class retailer in China and share the beauty of life with its customers.
Ever since established in 1984, Rainbow has been selected as one of the top 100 Chinese chain enterprises for several consecutive years because of its scientific yet human-oriented management as well as its professional and efficient operation. Based on the various demands of its target customers, Rainbow is aimed at forging a brand with “appetency, trust and life enjoyment” as its core values by adopting the retail formats such as department stores, large-scale shopping malls and convenience stores. Currently, it owns the retail brands such as RAINBOW (shopping mall), DREAMS ON (department store), Sp@ce (lifestyle supermarket), and Woll (convenience store). By September 2018, Rainbow has opened 68 department stores (including 2 community-based life centers), 73 supermarkets, 10 shopping malls, and 168 convenience stores over 8 provinces and 24 municipalities in China.
In addition, Rainbow has its own brands of commodities, such as Teemful, FIFO, Rainfresh and ALBST. When it comes to Teemful, it is committed to forging a brand value featured with “health, quality, taste and sharing”; the commodities under the brand include grains, edible oil, beverage, alcoholic drinks, leisure snacks, instant food, health care products and instant drinks. Speaking for FIFO, it is aimed at providing customers the daily necessities of high quality and favorable pricing; the commodities under the brand involved in home textiles, kitchen supplies, cleaning tools, household paper, oral hygiene products, clothes cleaning supplies and household cleansers etc. As to Rainfresh, it strives to offer customers produce of farming, forest, husbandry, poultry and fishery featured with freshness, health and safety. With regards to ALBST, the brand is focused on providing customers with the commodities of high quality and new ideas.
As the first to break through the shopping mode nourished by the traditional department store in the retail industry, Rainbow has initiatively and courageously conducted the digitalization of integrating its physical stores with online retail business. At the initial stage, it set up the national first WeChat-based retail service official account named as “RAINBOW” with a menu customized for users’ needs. Subsequently, it added a commercial format featured with the large (refers to shopping mall) and the small (refers to convenience store) on the basis of store entities. Later on, its official App called “Rainbow Scarf” came into being. Accordingly, Rainbow has formed a developmental path of multiple business formats by integrating its online business modes with its offline store entities.
Upon observation and insights to the night life and consumption habits of the contemporary young people and working population, Rainbow did its utmost to launch an urban night life landmark—“Yes! Street”, which is similar with Chinese Pinyin “Yeshi Jie” in pronunciation, and opens inside the 4 Rainbow Shopping Malls located in the cities of Shenzhen and Suzhou, and Jiangxi Province. It is learned that “Yes! Street” is a kind of indoor night fair with gourmet as theme, collecting local featured delicacy and snack bars endorsed by social network celebrities, to bring its customers fresh and rich palate experience. Bright and bold visual effects manifested through lighting and colors bring in an overwhelming sense of holistic spatial designs, which feature “Yes! Street”; the old town style of Las Vegas pervading some segments of the street, accompanied by sparkling neon lights and retro floor tiles conveys nostalgic yet magnificent feelings; in some sections of the street, oriental elements and light industrial style collide and converge with each other. The unique decoration plus the graffiti on the wall at the street forms a consummate place for customers to take photos of themselves. In addition, there is a small stage, basic musical facilities and smart interactive equipment available for customers to gain enjoyment, rest and relaxation by participating in the instant entertainment.
Rainbow signed cooperation with South China Belle on digital counter, which enable 11 brands of shoes under Belle to be sold at the online platform based on “Rainbow Scarf”. Different from the traditional e-commerce platform, the digital counter based on “Rainbow Scarf” enables shop assistants to get over the limitation caused by the SKU of store entities and sell commodities in a cross-regional manner. Moreover, the online platform “Rainbow Scarf” possesses more than 13 million members; thus, the digital counter based on the platform can help win over more opportunities for the commodities sold in store entities to get exposure in the public. Furthermore, Rainbow, with the aid of the analysis on the stats and the cumulative customers from “Rainbow Scarf”, is able to provide its cooperative brands with targeted tips, which help brand owners learn about the customers’ consumption behavior. Besides, “Rainbow Scarf” can help brands to conduct accurate digital marketing campaigns.
According to the report released by Rainbow for its sales over the half of 2018, Rainbow achieved operational revenue of 9.523 billion CNY, increasing by 6.02% year-on-year; the net profit attributable to its shareholders of listed companies was 0.485 billion CNY, rising up by 29.52% year-on-year; the average growth rate of its operational revenue in retail industry was 6.04%, and the average growth rate of its net profit was 26.69%.
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