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Mustafa boss' luxury home is 10 storeys tall
- Thread starter makapaaa
- Start date
the sheng siong chain has 33 stores island wide while mustafa has 1 giant store. sheng siong targets the heartland with chinese customers while mustafa targets neh's initially but becomes a tourist attraction. she's still the de facto center for foreign worker's (especially from india, pakistan, and bangladesh) remittance, foreign currency exchange, travel, air-ticketing, plus barang barang such as appliances, jewelry, watches, gadgets, what not. ultimately, volume, reach and convenience for customers will win out if rent is under control. those have been ntuc's forte plus their cozy relationship with the powers that be that allow ntuc to be so prevalent among sinkie lives today. pretty much from womb to tomb. while rents can go up for sheng siong, ntuc can enjoy rent control and preferential treatment. sheng siong will need to own at least 8 anchor stores and warehouses to fight the tide of increasing rent. cold storage which is run by the hongkies owns the high end segment and will stay relevant as sinkies are getting wealthier and spending more money at cold storage stores, thanks to the pap. and ntuc is not sparing that segment as numbers of well paid ft's and sinkies are huge.
when i go is not crowded... more staff then customers. many of their staff sleeping over the counter, one buzy using the exercise equipment to keep fit, most cashiers chit chatting away and you can see occasional prostitutes urshered by their pimps to do the weekly shopping, some ladyboys n the unoccasional blondes.
very interesting...
the sheng siong chain has 33 stores island wide while mustafa has 1 giant store. sheng siong targets the heartland with chinese customers while mustafa targets neh's initially but becomes a tourist attraction. she's still the de facto center for foreign worker's (especially from india, pakistan, and bangladesh) remittance, foreign currency exchange, travel, air-ticketing, plus barang barang such as appliances, jewelry, watches, gadgets, what not. ultimately, volume, reach and convenience for customers will win out if rent is under control. those have been ntuc's forte plus their cozy relationship with the powers that be that allow ntuc to be so prevalent among sinkie lives today. pretty much from womb to tomb. while rents can go up for sheng siong, ntuc can enjoy rent control and preferential treatment. sheng siong will need to own at least 8 anchor stores and warehouses to fight the tide of increasing rent. cold storage which is run by the hongkies owns the high end segment and will stay relevant as sinkies are getting wealthier and spending more money at cold storage stores, thanks to the pap. and ntuc is not sparing that segment as numbers of well paid ft's and sinkies are huge.
sheng siong does not target chinese. you are wrong. their background is chew hu kia. with prime stores at woodsland and jurong. you can see from their regular show that plenty of participants r from up north not one north. they target the blue collars which is why they do not spend on layout and space. the chinese target is the smaller outfit called ang mo that sets itself on heartlanders.
anyway, mustaffa is not just one giant store, it's almost one street. yes, most of the shopfront along syed alwi belongs to one person and one person only.
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One of the keys to his success is actually owning, instead of renting, the mall he operates from. So many other retailers, which might have a great concept, go to the wall because of the crushing weight of high rents. His store will be able to ride down any severe economic downturn and come out unscathed. In fact it will come out stronger as most of its competitors would have become insolvent during an economic crisis.
The other key to his success is conveying the appearance or impression of selling relatively inexpensive goods which then tends to draw a large crowd, when in actual fact many of the goods sold at Mustafa are priced similarly to what is found in most other places and, in some instances, are more expensive.
The other key to his success is conveying the appearance or impression of selling relatively inexpensive goods which then tends to draw a large crowd, when in actual fact many of the goods sold at Mustafa are priced similarly to what is found in most other places and, in some instances, are more expensive.
Agree.
They serve Strubeli and cream there.:o
They serve Strubeli and cream there.:o
jiu hu kia are also chinese (sinkie chinese vs. jiu hu kia chinese), which is different from tiong's. on sbf here, chinese refers to sinkies and jiu hu kia while tiong's refer to prc horse stance shitters. i know where all the ss stores are as my family business deliver goods to them. the founder used to sell pork. now him and his family are doing very well. the marketing team that joined them from another chain knows their target market and is superb in the execution. and by the way, you mentioned "prime" and "giant" with a different meaning (no pun intended) but they are also chains we deal with. the prime chain is small time, the giant chain is owned by dfi group (same hk group that owns cold storage), and there's another smaller chain, jasons market place (also part of dfi). and then there's 7-11. :p
I notice that Mustafffa has GNC & Eu Yan Sang counters inside their premises. I think these companies are paying Mustaffa a cut for doing business in there.
Yes. Richard says still profitable.:o
That's right. Owning the property always a good option if going into biz for the long haul. A friend of mine who started nightclub biz in the 80s commented that he helped the landlord by paying almost 50% of the property after 12 years rental.
Not too long ago, the old Armani at Jln Sultan received a rude shock. From rental of 50k or thereabouts, new owner doubled the rental. The new owner adopted a take-it-or-leave-it stance. He calculated correctly. Armani wont pack up for several easons. They were doing well and customer base was solid. It was hard to get such a big place. Renovations take up at least 3-4 months. Lastly, not many locations would receive the nod from Police Licensing. They lanlan carried on.
I now remember that. He made so much noise. Even the Banks brought in VISA to help him. He then hired a Guy from Amex and made him GM? He even experimented with an online pilot that involved all the card companies and Citibank.
It certainly a fire hazard. how he managed to convince the Civil Defence is a mystery. People go there because of the product range and price. Many tahan until they give up. He made a fortune from new FTs who want to buy small goods and white appliances.
I even remember every Apple launch he got a long waiting list. Even Apple cave in and allowed him big shipment without even setting aside the a small portion with. Apple collateral.
I even remember every Apple launch he got a long waiting list. Even Apple cave in and allowed him big shipment without even setting aside the a small portion with. Apple collateral.
This guy will not even hang a leaf if that leaf costs one cent.
Most of his products come from India and Middle Eastern Countries, including Iran. He got the clout to force suppliers to do business on his terms. His customers are mostly the dark skins from abroad and those ah nehs working in sinkie land. Kick out the ah nehs and his business will drop.
Saw a thread on Peter Lim and now Mustafa. SG Billionaire's day?
The guy is a home grown entrepreneur but he is humble. Always walking around in his shopping centre in slippers and looking like a browsing customer. Funnily, all his employees just ignore him, none greets him.
Just to correct a small error. Mustafa does buy from overseas consolidators, typically from US and UK
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