Real estate depression Libang not only sells paint but also sells services

China Coatings Network
: On April 9, Wee Siew Kim, chief operating officer of Libang's parent company, Singapore Time Group, told reporters in Chengdu that Libang China is making every effort to expand the
Coatings
business group, improve the newly established substrate accessories and refresh service department, forming a comprehensive product and service system including home design, construction services, paint decoration.
the state's strategic adjustment as a result of the changes in the market environment of the national dress market in China. "In the past,
Coatings
might have had only paint factories, but our plants were more than just coatings, we called them new material factories, including production, brushing and other services."
2014, Lisle Group's turnover exceeded US$3 billion, while Libang China's turnover exceeded US$13.6 billion, accounting for more than 71% of the Group. The importance of the Chinese market to the Group is predictable.
Huang Shoujin divides Libang's development in China into a five-year period, and in the past two five years, from 2006 to the present decade, Libang China has maintained double-digit growth, growing by about 25% in 2013.
these two five years are China's real estate market rapid development of the decade, and now, the Time Group to implement strategic adjustment, to a large extent, also with China's construction market, especially the real estate market trends have a certain relationship.
" I dare not say that China's real estate industry adjustment has no impact on us, which makes our competition with competitors intensified, in order to avoid vicious competition with peers, we can only extend our service areas, another way, can not always be entangled in the price and the product itself, so there is our service upgrade strategy. Huang Shoujin said.
China's strategic adjustment began in 2014 with a series of internal management restructuring, including the all-round expansion of the coating business group, the establishment of a new substrate and commercial equipment departments, to provide consumers with personalized services, including paint color matching, home design.
, unlike rival Doles, which uses the same product to focus its publicity around the world, Libang has long emphasized making different adjustments to its local conditions. Putty powder, for example, depends on the climatic conditions in various parts of China, Libang offers different formulations to adapt to the local climate.
the strategic upgrading of Libang, the largest investment is in manpower, in addition to the introduction of a large number of new talent, but also set up Libang University, which has 14 branches, as professional training.
, Libang China also uses online and offline combination of the way to dealers, guide the purchase of training.
China is also promoting its own iColor website platform, which serves as a bridge between home improvement companies, designers and consumers, through which home improvement designers can display their work and consumers can find renovation cases that meet their own home improvement needs.
in his view, the paint industry is experiencing quality, technology, services, brand development step by step, with the fierce market competition and the continuous improvement of consumer quality, services will become one of the important factors to attract consumers.
And in order to meet the new generation of consumer trends, Libang has also taken the lead in China's coatings industry into the field of e-commerce, currently also has 15 e-commerce channels, including Tmall, JD.com and its own e-commerce platform, although sales are currently less than 1%.
addition to the service upgrade, Libang has launched its asset acquisition program, which since 2013 has resulted in the acquisition of a 57 per cent stake in Olong Paint and Guangzhou Xiuper by Dejialang Camel. The acquisition has improved Libang's product system, with a high- and low-end product line covering high and low-end products.
Huang Shoujin also said, "Based on the group's diversification strategy, diversification not only refers to product diversification, but also service diversification, so that we enter the previously unserved areas." For
, wood
, industrial paint, engineering business, this is what we value. ”