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Himo: A New Breed in China's Photography Industry
內容大綱
How can a service industry startup in a traditional segment gain a foothold in the market? How do we run standardized operations in an industry where customers desire personalization and uniqueness? The journey of Himo sheds light on these questions. Himo, a China-based studio photography brand, owned the largest number of photo studios in China. When Himo was founded in Hangzhou in 2015, its main business was ID headshots. After eight years of development, it had 600 stores spanning over 80 cities in China. "Light, fast, and simple" was Himo's strategic positioning to appeal to the young people. Based on these three key attributes, it developed a standardized operation process and services, creating a business model completely different from traditional photo studios and thus being dubbed "the new species." How should Himo go from there? To answer this question, during its senior management strategy meeting on November 3, 2022, three different views emerged: one was enhancing the service delivery capabilities of its stores; another one was doubling down on its cosmetic retail business; and finally, one suggested speeding up the opening of innovative themed stores. Which should be Himo's strategic focus for its next phase? Himo's founder, Wu Yuqi, had to think this over.