Samsonite’s extra-large case for international travel and a large case for domestic travel cost about 9,000 yuan in Beijing. Guess how much it would cost to buy it here? This is a question that Cheetah CEO Fu Sheng asked Lei Jun when he was on a business trip in the United States a few years ago. Lei Jun’s answer was four or five thousand.
Wrong, as long as 150 US dollars, 900 yuan in RMB, one-tenth of the domestic price. Years later, Lei Jun recalled that he was shocked beyond Indian Phone Number words when he heard the price. Later, he carefully studied the retail company in the United States that sells Samsonite boxes. This company is the famous retail giant Costco, whose Chinese name is “Costco”.
In fact, not only Lei Jun, but even Buffett loves Costco. As early as the 1990s, the stock market god began to buy Costco shares, and his best friend Charlie Munger even joked that Costco is “the company that most wants to bring into the coffin.” So, what is the charm of Costco that makes Buffett, Munger and Lei Jun so fascinated? What can we learn from this? These will be answered in this article.
