History of Robinson & Co

Elisha Smith and Phillip Robinson: Founding of Robinson & Co

Elisha Smith and Phillip Robinson, a brother, formed this organization in 1958. The corporation commemorated its 150th anniversary in 2008. (Vallaster, 2017). This company operates a large number of department stores in Singapore and Malaysia, as well as franchise locations for Spenser and Marks in each of the two countries. John Little Robinsons retail stores are also owned by Robinson & Co. Since its founding, Robinson & Co. has grown to become one of the most well-known department shops on the planet. Robinson's son assumed control of the company's operations upon his father's passing in 1881.The son transformed the organization through massive advertisement in the Malay Mail. Robinson became a limited company in 1920. In 1955 this group acquired 76 percent of the shares in John little; in the same year it took over the control of the entire company (Robinsons.com.sg, 2017).

Products and Services

At the moment the company offers products of different categories for instance beverage products, and services, home and lifestyle products, bed shop, food, ladies shoes and accessories, beauty products. The company also assists its clients in the various events, for instance, the social functions. Also, it offers gift cards and gift vouchers. As per the company's financial statement, there has been a tremendous rise in revenue, for instance, the consolidated revenue increased from 2,348,003,416 dollars in 2015 to 2,996,414,239 dollars in 2016 (Robinsons.com.sg, 2017). Despite the economic downturns that were experienced Robinson & Son has retained its financial stability. This company is one of the leading chain stores in the world, and for the past five years it has remained steadfast and committed to a persistent growth through investing in in the local communities.

Business Strategies

2012

Robinson & Co with the intention of increasing profitability and expanding market share embarked on aggressive expansion by opening up newer stores. The newly opened stores were the Lampang warehouse, Bangkae store, Suratthani store, Bangna store, and the Suphqnburi store. As per the 2012 statistics the company had 30 stores 19 were located upcountry while 11 were located in Bangka. In addition to the revenue generated in these stores, the company also received 1385 million dollars as interim dividends from two associates CRC Sports Company Limited and Power Buy Company Limited.

2013

Robinson & Co continued with its proactive store expansion that was initiated in 2013. The company opened five newer stores including five life style centers that are located in Surin, Saraburi, Sakonnakorn, Kanchanaburi and one more shopping mall that is located in Ubon Ratchathani. The company had a total of 34 stores all over the country as per the 2013 statistics (Ryzhikova, 2014). Following the proactive store expansion strategy, it was ranked among the top 200 leading company regarding growth and profitability.

2014

The company's chief executive officer came up with a plan to transform the organization into one of the most valuable institutions on the globe. For this reason, the CEO came up with a plan to establish Robinson Department Store with the aim of investing in the booming retail business in Vietnam. This was an important step in improving the company's growth. Furthermore, the company expanded its business by opening up five new stores which were Mukdahan Store, Prachinburi Store, Samut Prakan Store, Roi-Et Store, and Chachoengsao Store. In 2014 the newly established Robinson departmental store received an award by the ministry of labor and social welfare as one of the most outstanding businesses for labor relations.

2015

The company continued with its expansion strategy by opening up for new stores and embarked on refurbishing the existing stores to become modern and match up with the consumer expectations. The newly opened stores included the lifestyle department in Raying and three lifestyle centers located in Maesot, Srisaman, and Burirum. The company received another award by the ministry of labor and social works as an outstanding company regarding labor relations.

2016

Robinson & Co redesigned its logo as one of the strategies for rebranding. The business also went online by introducing the Robinson Line as a strategy of responding to the digital trend. Robinson & Co also participated in corporate social responsibility by organizing a mini marathon that aimed at teaching the society on the importance of environmental conservation. It also embarked on a strategy that aims at attracting the millennials. In 2016, the company unveiled the present shopping technology to enable the Millennials shop seamlessly for Ath-leisure, footwear, swimwear, underwear and sports collection as they benefit from the new technological initiatives. Robinson & Co furthermore added new branches by opening the Lopburi store; this newly opened store was unique because it introduced the theme of 'eat-shop-play.' It was one of a kind since it contained solar equipment with the aim of conserving the environment and the water park equipment. The company also received an award for the 11th consecutive times from the ministry of labor and social welfare as the most outstanding company regarding work relationship and welfare (Yahya, Chang and Ng, 2016).

Summary

Robinson & Co remains committed to expanding the company by establishing newer branches and refurbishment of the existing one in line with bringing in new customer experience which greatly inspires customers especially the millennials. The stores also come with a diverse and ever changing lifestyle to meet the customers' demands. The policies that have been applied by the company have attracted the Millennials so far the company is equipped with cell phone charging stations, free WI-FI hotspots, recreation area, and stylish cafes. The company's main target group includes the young professional and the people who are aged between 25 to 45 years with high to medium purchasing power. The uncertainty of economy is one of the factors that affect the overall economy because of this reason it set up a system to effectively follow assess the economic situations and help determine risks. Regarding the operating systems Robinson & Co and company an efficient operational management system to help lessen both the transportation and purchasing procedures (Kuznetsova, 2016). The institution has also integrated the computer system in stock management to reduce any risks associated with the obsolete inventory.

Recommendation

Robinson & Co remains to be one of the healthiest companies. Despite the fact, the new firms entering into this market poses a significant threat regarding competition Robinson & Co 150 years of experience gives it an edge. The current social media promotion is currently creating a real buzz for the institution. The country should consider establishing in the nearby nations, for instance, Hongkong and Thailand, such a move will not only increase the customer's base but also give it a learning experience to establish in overseas companies (Smirnova, 2015). Robinson & Co should also enter into the E- business to take advantage of the increased opportunities. The increasing internet connectivity all over the world creates a better ground for the company's market expansion (Kamminga, 2015). E-business will also reduce the stiff competition from the specialty stores and hypermarkets. The company should also increase the male category to attract the growing number of metrosexual population.

References

Kamminga, M. (2015). Company Responses to Human Rights Reports: An Empirical Analysis. SSRN Electronic Journal.

Kuznetsova, M. (2016). THE IMPACT OF COUNTRY RISK IN THE MODERN BUSINESS. Business Strategies, (6), p.1.

Robinsons.com.sg. (2017). Robinsons | Shop Online. [online] Available at: https://www.robinsons.com.sg/index.php [Accessed 16 Aug. 2017].

Ryzhikova, T. (2014). THREATS TO BUSINESS: THEORY, METHODS, ASSUMPTIONS. Business Strategies, (1), p.73.

Smirnova, D. (2015). PROBLEMS OF SUSTAINABLE BUSINESS DEVELOPMENT INDUSTRIAL ENTERPRISES. Business Strategies, (1), p.5.

Vallaster, C. (2017). Managing a Company Crisis through Strategic Corporate Social Responsibility: A Practice-Based Analysis. Corporate Social Responsibility and Environmental Management.

Yahya, F., Chang, Z. and Ng, Y. (2016). Developing high-tech companies in Singapore. Journal of General Management, 42(1), pp.5-22.