Venture(US:VEMLY) Sou Hu Cai Jing·2025-12-16 11:45Core Viewpoint - Li Guoqing, founder of Dangdang, announces his return to the e-commerce sector with a new high-end membership brand called "Li Xiang Sheng Huo" aimed at providing premium products to a limited number of members [2][3][6]. Group 1: Business Model and Strategy - The brand will operate as an online high-end membership store, initially serving 5,000 premium members with a spending threshold of 30,000 yuan per year [3][6]. - The projected annual revenue for the brand is approximately 150 million yuan based on the membership model [4][13]. - Li Guoqing aims to maintain a price markup of 1.25 times the cost, which is higher than Costco's maximum of 15% [6][13]. Group 2: Product Focus - The core product category will be alcoholic beverages, with plans to expand into high-margin, non-standard items such as aged tangerine peel and Pu'er tea [4][10]. - The brand emphasizes authenticity in sourcing, with a focus on genuine years and regions for its products [6][7]. Group 3: Market Positioning and Competition - "Li Xiang Sheng Huo" will compete with established membership platforms like Sam's Club and Costco, which have a strong presence in the membership retail space [11][12]. - The membership model is designed to create a sense of scarcity and depth of service, which may limit revenue potential in the initial phase [13][14]. Group 4: Future Growth Potential - Plans are in place to expand membership to 30,000 in the second year and 50,000 in the third year, potentially increasing annual revenue to 1.5 billion yuan [14]. - The future direction of membership e-commerce may include the establishment of physical stores or partnerships with existing membership retailers to create a hybrid model [14].