Chapter 980: 980
Chapter 980 – Staples
Feng Yu has an affection for athletes, especially the star athletes . Sometimes, star athletes are more influential than entertainment celebrities .
Feng Yu had hired some famous athletes to endorse his products and had better results than entertainment celebrities . Sports are broadcast all over the world, and there are different types of sports . Languages are not a barrier in sports .
In Feng Yu’s previous life, the NBA is very popular in China, and around the world . Some claim that the NBA has the best basketball players in the world .
There is a rumor in Feng Yu’s previous life about Houston Rockets . The wealth of the Rockets’ Boss increased tremendously after the team signed Yao Ming . He made lots of money from the live telecast and advertisements .
Houston Rockets played their home games in Toyota Center, and this had increases Toyota’s branding worldwide . Toyota held the most market share in China once, and its sales in the US also increases a lot .
Feng Yu is wondering if he can change the name of LA’s indoor arena to Wind and Rain Center . It will be a long-term advertisement for his company .
The indoor arena does not only hold NBA games . Concerts and other sports are held there too, and the media exposure is very high . As the TV stations telecast matches, the brand will also be telecasted to the TV viewers .
Feng Yu wants to make his Wind and Rain brand the most famous brand in the world . Naming a popular indoor arena is a good choice .
Feng Yu found out that LA is building a new modern indoor arena . The construction cost is almost 375 million USD, and the construction is over 18 months .
This new arena will be the Lakers and the Wind and Rain (Clippers) new home . It is also the only arena in the US to house two NBA teams . Of course, the arena will also cater to other sports and will host other commercial activities like concerts, etc .
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Two companies had invested in this new arena . LA Arena Company and Anschutz Entertainment Group had set up a management company to manage the arena . Still, the company is split into sports and entertainment events .
Feng Yu wants to be the third shareholder, as he wants the naming rights of the arena .
The arena is supposed to be named STAPLES Center, as it was sponsored by Staples Inc .
Feng Yu felt this name is ridiculous . Why is an arena named after a stationary? It’s too weird .
Ralph suggested Feng Yu contact Staples Inc . to buy the naming rights from them, before speaking to the arena management company .
Feng Yu felt Ralph is right . He wants the naming rights first, followed by the advertisement spaces in the arena . After all, he can use his team for advertising his brand .
Currently, Stables Inc . had still not entered the Fortune top 500 companies . Still, they are top North America’s stationary suppliers and retailers . They have lots of stores and distribution channels . If not, they will also not sponsor the arena for the naming rights .
Feng Yu felt he might get Stables Inc . to give him the naming rights of the arena for free, and at the same time, make money from them .
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“This is my Boss, Mr . Feng Yu . He is a shareholder of Microsoft and is a director there . His surname is Feng . Boss, Mr . Carlos Smith, is the President of Staples Inc .
Feng Yu smiled and shook hands with Smith . “Nice to meet you, Mr . Smith . I am impressed with Staples Inc . Many of the stationaries in Microsoft are from your company . ”
“Hahaha… . Mr . Feng, Microsoft, is more impressive . Of course, you are more remarkable . I thought is using an old photograph, and didn’t expect you to be so young . ”
When Smith knew Ralph is Feng Yu’s assistant, he was surprised . He does not know why Feng Yu is looking for him, and though it must be business-related . It will be good for Staples Inc . if he can do business with Feng Yu .
Staples Inc . ’s development had slowed in recent years and need to open a new market . They had to pick either Europe or Asia, as they do not have the capabilities to develop both markets at the same time .
If Stables Inc . can work with Asia’s top billionaire, it will be easier for them to enter the Asian markets . Even if they can only enter the Chinese market, there will be high profits for the company .
“Smith, your company, is going to enter the Asian markets?” Feng Yu laughed and asked .
Smith was surprised . This young tycoon is going to cooperate with Staples Inc . !
“Of course . We have plans to enter the Asia markets, especially the Chinese market . May I know why Mr . Feng is asking?
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Feng Yu looks at Ralph, and Ralph explains . “My Boss is thinking of investing in stationaries and office supplies . Staples Inc . will be a good partner . ”
“Of course . Staples Inc . is the biggest office supplies supplier and distributor in North America . We have many stores and distribution channels . Mr . Feng, are you thinking of partnering with Staples Inc . to set up a new company in Asia?”
“That’s right . My boss is also the biggest retailer in China and one of the biggest in Asia . We are also working with many retailers . If Staples Inc . is willing to partner us, Staples can open up the Asian markets in a short time . ”
Feng Yu does not think that Staples will do well if they enter the Chinese market now . Staples Inc . can do so well in North America is because they have lots of retail stores, and had worked with many supermarket chains . Also, North America’s economy is doing well in recent years, and many new companies are located there . The demand for stationaries is high . ”
Although there are more companies in China, now, Chinese companies are not picky about their office supplies . Most Chinese companies are focusing on cost savings and will use office supplies from small local factories .
But if the local office supplies can merge under a brand, and get the exclusive distribution rights, it will be profitable .
“What cooperation is Mr . Feng interested in? we are in office supplies and had been in this industry for over a decade . ” Smith replied .
“We can set up a joint venture and owns 50% of the shares each, and I will own the brand . You all will run the company, and I will provide the best distribution channels . ”
“Mr . Feng, I think we should use Staples Inc . as the brand . After all, we are an established brand, and we want to be a major shareholder . At least 51% shares . ”
Feng Yu purposely put on a puzzled look . “It will be hard to cooperate with your request . ”
Translator’s notes: I am not sure who Carlos Smith is, as this name is not in the 1997 management team of Staples Inc . It should be a fictitious name .
Toyota Center
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