Retailer Fat Donglai Shoots Down “Mass Closure” Rumors, Reveals Robust Sales and Employee Perks
In a statement released late Sunday, June 23rd, regional retailer Fat Donglai addressed widespread online speculation suggesting the closure of multiple stores. Debunking the rumors, the company clarified the source of the confusion that generated the claims.
The narrative of closures, according to Fat Donglai, stemmed from a recent live-stream session on June 20th, where founder Yu Donglai engaged with viewers on his Douyin account. Discussions focused on the company’s management philosophy. Yu, responding to questions about the early days of the business, referenced the closure of some smaller stores from various business cases and locations. He specifically mentioned circumstances like the expiration of leases as the reason for the closure of a store, not the liquidation of the retail chain.
Fat Donglai pointed out that the remarks have been taken out of context and twisted into the alarming announcement of a widespread closures.
The company continues to boast impressive financial standings. According to its website, Fat Donglai’s sales for itself have hit $1.56 billion. Additionally, Yu revealed enviable employee perks, including an average monthly after-tax salary of around $1,240 for its 8,000+ workforce . He also noted that net profit is estimated at $207 million or around $13,800 per employee, with the management team and technical staff averaging around $97,000 each.
Looking ahead, Yu emphasized the company’s commitment to work-life balance, announcing plans for a maximum 36-hour work week and a minimum of 40 days of annual leave for all employees.
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