It is said that Sam Walton's inspiration for Wal-Mart came from Rui Fu Xiang, a traditional Chinese vendor. Wal-Mart has now become the largest retailer in the world, while Rui Fu Xiang is still struggling for its existence.
Sam Walton, the founder of Wal-Mart, once said: "I got the inspiration for Wal-Mart from an age-old Chinese vendor, whose name was rooted in a legendary insect. According to the legend, this insect could bring people wealth and fortune. I think that Chinese vendor might have owned the earliest chain stores in the world. They did very well, very well indeed!"
Ruifuxiang
This could very well be a story devised by Wal-Mart's marketing department, serving as a kind of propaganda for their entry to China's market. Yet the Chinese vendor mentioned does exist. The insect that could bring wealth and fortune must be "Qingfu," which is recorded in the ancient books as a nickname for money. And the
Chinese vendor named after "Qingfu" must be the age-old Rui Fu Xiang Silk Shop.
Comparison of Status Quo
The original Rui Fu Xiang sits on an aged street. Its old-fashioned doorway reveals the shabbiness of the shop, contrasting sharply to the hustle and bustle of the "Big World" next door. It is quite gloomy inside the shop, with rolls of outdated cloth scattered on the counters. Few customers drop in.
Meng Hongsheng could not have expected such a scene when he established Rui Fu Xiang. On the contrary, Wal-Mart, founded one hundred years after Rui Fu Xiang, has developed into the world's largest retailer, with 1.2 million staff and more than 5,700 stores, including some 1,350 discount stores and nearly 2,000-combination discount and grocery stores.
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