On September 15th, Mr. Xu Zhihua, CEO of Peak Group, participated in a guest interview titled "Discovery Value." During the conversation, he highlighted that the company's core profit areas and primary market focus remain in second- and third-tier cities across China, with third-tier cities being the current strategic center. As of now, Peak has expanded its presence nationwide, operating over 6,700 stores, and is on track to surpass 7,000 by year-end.
The following is an excerpt from the interview:
Hexun: You mentioned your dreams and entrepreneurial journey earlier. It seems that Peak Group has grown rapidly in the past two years—whether it's about going public or expanding into second- and third-tier cities, opening new stores, and launching plans. The overall media coverage has also been positive. From our perspective, your father’s entrepreneurial journey could be seen as a bold venture. Now, you're starting a business for the second time. Have you faced any challenges along the way?
Xu Zhihua: In my view, this second venture isn't just about me. It involves my father, my brother, and all of us working together. It's not just an individual effort but a shared mission for everyone at Peak. We are leading our employees and partners toward common goals, and we believe that true success comes from collective effort, not just personal ambition.
In terms of growth, Peak experienced rapid development, especially between 2005 and 2006, when internationalization and brand leadership helped us enter a fast-growth phase. Now, the main challenge is sustaining that momentum. We need to strengthen internal systems to support our expansion and address any shortcomings. There are definitely challenges, but we are continuously working on talent acquisition, corporate culture building, and information system improvements. These are ongoing efforts, and every day brings new challenges. None of us have managed a company of this scale before, so we're constantly learning and adapting.
Hexun.com: What progress have you made in expanding into second- and third-tier cities?
Xu Zhihua: Our main profit centers and key markets are still in second- and third-tier cities, particularly third-tier cities. This remains our core area of operation. We currently have more than 6,700 stores nationwide, and we expect to exceed 7,000 by the end of the year.
Hexun.com: The 7,000-store target is getting closer to your million-store vision.
Xu Zhihua: Yes, we’re moving steadily toward our goal. However, the 1 million stores is not our ultimate objective. Our long-term aim is to make Peak a globally recognized brand. The store count is just a milestone along the way.
Currently, we have outlets in almost every major city. But the real challenge lies in improving the efficiency of each individual store. We continue to focus on location selection, store image, and customer service. At the same time, we are working on better ways to monitor and manage each outlet from the headquarters, ensuring control and consistency across the entire network. This is an ongoing process, and we are committed to refining it every day.
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