Source of this article: Times Finance Author: Zhong Cai
Wahaha is bidding farewell to an era.
Picture source: Tuchong Creative
On February 25, Wahaha Group issued an obituary on its official Weibo, saying that Comrade Zong Qinghou, founder and chairman of Wahaha Group, died at 10:30 on February 25, 2024 due to ineffective treatment due to illness. Passed away at the age of 79.
As a large family business, Zong Fuli, the vice chairman and general manager of Wahaha Group and Zong Qinghou’s 42-year-old daughter, will most likely take over the reins of this 37-year-old domestic beverage giant.
This is a succession that has been brewing for nearly 20 years.
A long succession
In 2004, Zong Fuli, who majored in international business at an American university, graduated and returned to China. The following year, she joined the Wahaha Group and served as deputy director of the Management Committee of Wahaha Xiaoshan No. 2 Base. Later, she also served as Wahaha Children's Wear, Kaqiana Day. General Manager of Yong Cosmetics Co., Ltd.
At that time, Wahaha was in a stage of rapid growth. The previous year (2003), Wahaha's operating income exceeded the 10 billion yuan mark, becoming the fifth largest beverage manufacturer in the world. It proposed that "sales exceed 20 billion yuan in 3-5 years, and sales reach 100 billion yuan in 5-10 years." "The goal. In 2005, Wahaha launched another milk product called Nutrition Express, and in the next few years successfully built it into another super single product after ad calcium milk.
Initially, Zong Fuli mainly practiced in various business sectors of Wahaha. In 2007, 25-year-old Zong Fuli became the president of Hongsheng Beverage Group. The group was established in 2003. It is a company that provides solutions for the entire beverage production industry chain and is responsible for the processing business of some Wahaha products. Zong Fuli, who had more say, began to expand Hongsheng's business boundaries and opened Hongsheng to many provinces across the country. In 2014, Hongsheng became one of the top 500 private enterprises in China. In the "Ranking of Chinese Business Women" released by Forbes Chinese website in 2014, Zong Fuli was once again on the list, ranking eighth.
Subsequently, under the leadership of Zong Fuli, Hongsheng Beverage tried brand incubation and launched the fruit and vegetable juice brand "kellyone" targeting the high-end market in 2016, but the market response was average. This is also one of Zong Fuli’s explorations in the field of product rejuvenation.
At the same time, after revenue reached 78.2 billion yuan in 2013, Wahaha entered a downward cycle. By 2017, its annual revenue was less than 50 billion yuan.
With the rise of Internet e-commerce and new consumer brands, Wahaha, which is over 30 years old, needs more fresh blood.
has accumulated rich experience in the upstream industry chain. In 2018, Zong Fuli served as the director of Wahaha’s brand public relations department, which made it stand out in front of more public. Wahaha has also successively launched a series of innovative marketing activities, including the launch of ad calcium Milk mooncakes and rice dumplings; Nutritional Express makeup palette; flavored yogurt co-branded with "Douluo Dalu"; and co-branded with Zhong Xuegao, etc.; and the spokesperson who has been cooperating for 20 years has been replaced.
In 2021, Wahaha’s revenue will return to more than 50 billion yuan, reaching 51.915 billion yuan. At the end of this year, Zong Fuli also officially became the vice chairman and general manager of Wahaha.
Although his father Zong Qinghou was still serving as the chairman of the group at that time, this appointment was regarded as his official establishment as the successor of Wahaha Group, which meant that Wahaha was about to enter the "Zong Fuli Era."
Zong Fuli: Wahaha - Zong Qinghou = 0
Zong Fuli, who was deeply influenced by Western culture since childhood, had differences with her father in business management.
Zong Qinghou has stated on different public occasions that he and his daughter have differences over company management. In Zong Qinghou's eyes, his daughter is influenced by Western culture and is very independent in doing things. He is worried that his daughter will not be able to adapt to the Chinese corporate environment. In an interview with "Chinese Entrepreneur" in 2018, Zong Qinghou commented: My daughter now manages 1/3 of Wahaha's enterprises, but she still likes to create new things. After
became the vice chairman of Wahaha Group, Zong Fuli began to adjust Wahaha's products and marketing system.
At the 2022 Wahaha Brand Marketing Planning Conference, Zong Fuli proposed "four major measures", namely, a major battle to start a "water turnaround", two major IPs to help rejuvenate the brand, three major categories to lock in market segments, and four Large products continue to build blood channels.
On December 12, 2023, Wahaha’s 2024 National Sales Work Conference was held in Hangzhou. Zong Qinghou and Zong Fuli attended the scene together. This was one of Zong Qinghou’s few public appearances recently. He and his daughter jointly commended Baidu More than 100 advanced workers were honored and awards were given to the winners on site. On the same day, Zong Fuli delivered a speech at the 2024 National Sales Work Conference on behalf of Wahaha Group, releasing important strategies for the next year in terms of products, brands, sales and other aspects. She emphasized that in the new year, Wahaha should not only seize the strong market, but also target special channels and actively explore new markets.
has been in business for nearly 40 years, and Zong Qinghou has always been Wahaha’s “spiritual leader”. In 2011, Zong Qinghou and Zong Fuli participated in a program on the CCTV Financial Channel. The host asked Zong Qinghou, "What does Wahaha plus Zong Fuli equal?" Zong Qinghou replied: "It equals a more powerful Wahaha."
The host turned to ask Zong Fuli: "What does Wahaha minus Zong Qinghou equal? ?" Zong Fuli replied: "Equal to zero."
Nowadays, the days when "father and daughter" fought side by side can no longer be reproduced. In her 20th year in the food and beverage industry, 42-year-old Zong Fuli took over the business territory that her father had been working on since she was 42 years old. Standing on the shoulders of giants, it is still unclear whether Zong Fuli, who has passed the test with a red flag, can reproduce the glory of her father's generation, but at the moment, the most important task is to run a solid business and meet the challenges of market changes.
