Bertelsmann will close 36 stores in Shanghai will

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the new network on June 17, Zhejiang Xinhua Bookstore chain financial situation as poor, lack of economies of scale, difficult to deal with the increasingly fierce market competition, network books, international book chain giant Bertelsmann joint venture in China --- Beijing Bertelsmann II Eleventh Century Book Chain Co., Ltd. last week released a statement business, announced the termination of its 36 nationwide Bertelsmann book club bookstore chain operations, twenty

the new network on June 17, Zhejiang Xinhua as poor financial situation of bookstore chain, lack of economies of scale, difficult to deal with the increasingly fierce market competition, network books, international book chain giant Bertelsmann joint venture in China --- Beijing Bertelsmann Book Chain Co., Ltd. twenty-first century publishing business last weekend a statement, announced the termination of its 36 nationwide Bertelsmann book club bookstore chain business, the twenty-first century book chain in 19 stores in 36 cities will come on July 31 this year, all closed. However, part of Bertelsmann Culture Industry Co., Ltd. Shanghai Bertelsmann 8 chain, with the twenty-first century independent book chain, and thus not subject to the influence of business as usual. Meanwhile, Bertelsmann Book Club China and online bookstores are still normal operations.
in the world with 35 million members of the Germany's Bertelsmann AG and China Science and Technology Publishing Company in February 1995 a joint venture between Shanghai Bertelsmann Culture Industry Co. In 1997, they set up in Shanghai, China's first joint book club, for the first time will be popular around the world Bertelsmann book club business philosophy to China. Since then, the book club have formed a mail order catalog,supra for women, online bookstores and chain stores throughout the country members of the three major retail channels. At present, Bertelsmann in China has 1.5 million book club members. However, recruitment of members of the club costs and higher operating costs to the increasing pressure caused by profit. Are foreign, said the long-term losses, may cut disposable Bertelsmann China branch, withdraw from the Chinese market.
for all the rumors, executive director of Bertelsmann China headquarters in music made it clear that Bertelsmann will not withdraw from the Chinese market, store closure does not affect the book club and other businesses as usual. It is reported that Bertelsmann book with twenty-first century partnership terminated chain is the chain closed 36 stores the main reason. Bertelsmann's business issued a statement last weekend, said: long-term, sustainable development. In addition, the Chinese market, the growth of Internet book sales and increased competition also allows us to see the twenty-first Century Book Chain current business conditions can not adapt to these changes, which prompted us to make the ultimate termination of the business decision. long-term investors, we have a lot to look forward to the business and investment plans for future business growth and lay a good foundation for long-term development. We will book the original twenty-first century, injected into the investment business in China, Bertelsmann other business and investment plans to go.