Personal introduction of Sun Yafei

She is the founder of Fifth Avenue, a luxury discount website in China. She studies at Dartmouth College. Her alumni include former US Treasury Secretary Henry Paulson and former IBM Chairman Guo Shina. Most alumni work on Wall Street after graduation.

Before doing luxury e-commerce, Sun Yafei always had a dream of starting a business, but what he did was very vague. An accidental experience of her sister Sun Duofei made her wake up. In September 2008, Sun Duofei came back from the United States with many luxury goods. Some things are semi-old and some are brand-new. The houses are piled up like a mountain. She runs an online shop in Taobao and grabs everything.

Sun Yafei's entrepreneurial dream has also become clear: move the luxury goods in the high-rise buildings on Fifth Avenue to the Internet and create an online outlet. The idea that "it may be popular" aroused Sun Yafei's idea of starting a business. Central Avenue and Fifth Avenue in Manhattan, new york is synonymous with "the highest quality and taste" and represents an elegant and fashionable picture of modern American life.

Sun Yafei integrated manufacturers and suppliers such as Louis Vuitton, Gucci, Chanel, Coach, Calvin Klein, Guess and Prada through bulk purchasing, making the annual discount of its products around 20%-80%. In Europe, this business model appeared in 2000, and an e-commerce website called YOOX helped luxury goods manufacturers solve the headache inventory problem.

Some big luxury brands, spring, summer, autumn and winter, will launch new series of products every season. When the season changes, some products must be taken off the shelves. Brands solve the inventory problem in two ways: one is to build outlets far away from urban areas, and the other is brand discount stores. The rise of e-commerce mode is undoubtedly the third way.

The founding team of Fifth Avenue is Sun Yafei's sister. My sister is rigorous and restrained, and my sister is lively and unassuming. Sister is responsible for the development of channels, and sister is responsible for the maintenance of major customers.

Like many startups, Sun Yafei can't give employees more wages. At this time, a good dream can obviously play a greater role. Sun Yafei's company has 1 1 employees, in addition to three partners, there are three interns and six full-time employees. Full-time employees earn 2000-3000 yuan/month, and interns can get 600 yuan/month.

"They are all recruited through the Internet," said Sun Yafei, whose employees are all young people under the age of 25 and lack work experience. Such people will be more flexible and full of enthusiasm. One of the employees is a fan of Fifth Avenue. He graduated from London University and was paid as an intern. He thinks this company is very interesting. Of course, this employee has a lot of money at home, so don't worry about salary.

The offices of Fifth Avenue are full of cartons, and the corridors are crowded with people. Everyone is busy.

Hundreds of thousands of watches, because the amount is large, there is no way to trade online through Alipay, and the remittance directly hits Sun Yafei's bank account. To some extent, trust plays a key role.

So Sun Duofei flew from Beijing to Hangzhou with fruit baskets and flowers, and accompanied the owner of this expensive watch to Hangzhou Tower for inspection.

In addition to this kind of sales that combines trust and performance, more things have proved that "good things grind people."

But it is not easy to satisfy customers. Our website is still not rich enough. If we want to meet more customers' needs, we can only negotiate with more brands, and the negotiations need more funds. So far, although the sales of the website have increased several times, it is still too small.

"Fifth Avenue" just opened for three months, when overseas investors came to the door. "I have talked about it several times. They don't know whether e-commerce of luxury goods is feasible. They think that there are too many fakes in China, and it is too difficult to establish a reputation. I don't know if I can open the market. " Sun Yafei said.

Behind one question after another, Sun Yafei feels that what he is doing is a very good thing, and some people follow and some people pay attention to it.

Sun Yafei feels that he is decisive and can always take one step more than others. She thinks Ma Yun is right. Dawn will come soon, but most people will die before dawn. More often, what is needed is persistence.