On March 18th, Hema witnessed a significant personnel change.
According to an internal email from Alibaba, effective immediately, founder Hou Yi steps down as CEO of Hema and will serve as the Chief Honorary Advisor of Hema in the future. CFO Yan Xiaolei will concurrently serve as the CEO of Hema.
In the email, Alibaba Group CEO Daniel Zhang expressed gratitude to Hou Yi, the founder of Hema, for his extensive industry experience and passion for retail, which led Hema to become a trusted company among consumers and a pioneer in industry development. Zhang thanked Hou Yi for his contributions to Hema's inception and growth.
Public information reveals that Hou Yi, formerly responsible for JD Logistics, served as Vice President of Alibaba and CEO of Hema Fresh, a subsidiary of Alibaba Group.
Recently, there have been numerous rumors surrounding Hema. First, there were widespread rumors online about Hema closing stores, with reports of no delivery service and reduced product variety. Some netizens even posted images showing empty shelves at Hema stores, suggesting clearance sales and store closures, which immediately sparked discussions.
Responding to these rumors, the official Hema account stated that the reports of "Hema closing stores nationwide" were actually due to reasons such as expired property contracts and individual malls facing economic challenges. They clarified that 6-7 stores nationwide would close in the first half of this year. Additionally, Hema is actively seeking better properties nearby to meet consumer demand.
Furthermore, Hema emphasized its plan to open 70 new stores this year, with over 360 stores currently operating normally.
Recently, there were reports claiming that Alibaba internally decided to sell RT-Mart and Hema to China Resources, with RT-Mart estimated at around 10 billion RMB and Hema at around 20 billion RMB. A tentative agreement has been reached between the two parties, supposedly finalized by Jack Ma within Alibaba.
Regarding this, a representative from Hema responded, "It's fake news."
Below is the full text of the internal memo:
Dear Hema Team,
I am pleased to announce an organizational appointment. Effective immediately, Hou Yi (Old Cai) will step down as CEO of Hema and retire as Chief Honorary Advisor of Hema. Yan Xiaolei (Baihe) will concurrently serve as CEO of Hema. In the future, Old Cai will continue to contribute his experience and wisdom to Hema as its Chief Honorary Advisor.
As the founder of Hema, Old Cai, with his rich industry experience and passion for retail, has led Hema to become a trusted company among consumers and a pioneer in industry development. We thank Old Cai for his contributions to the inception and growth of Hema.
Baihe has been with Hema for 6 years, demonstrating sharp business insights and a deep understanding of the company from its operations to its team. We look forward to further development under Baihe's leadership at Hema!
Daniel Zhang
CEO, Alibaba Group
March 18, 2024
