Moving with Hui, Dong Yuhui has to go it alone
Walk with Hui and part ways with Oriental Selection
From Yu Minhong's promotion last year and the establishment of the company to the launch of its independent live broadcast room, it seems that Dong Yuhui is independent, but in fact, Dong Yuhui is strongly bound to Dongfang Selection, and even the company and live broadcast room are in the same building as Dongfang Selection.
Of course, all the income generated by "Walking with Hui" is also included in the financial report of Oriental Selection.
And this time, Dong Yuhui is finally going out to go it alone. Recently, Dong Yuhui revealed in the live broadcast that his independent studio "Walking with Hui" is moving.
Source: Screenshot from Douyin
Dong Yuhui said that for the sake of long-term development, moving is imminent, and in the future, he will rent a large flat floor, so that the live broadcast room, warehouse, etc. are on the same floor.
Regarding the reason for moving with Hui, Dong Yuhui said that the warehouse downstairs was all selected by Dongfang, and we couldn't use it. "The 300 square meters of sample storage is not enough, it is already full. ”
Due to the lack of workstations, many new friends can only stand and work, and I will not hide from you that now many companies do want to cooperate to visit, or some local directors, or even higher-level leaders come to us, can only stand at the door and wait.
From the perspective of team size, Yu Minhong revealed that there were nearly 70 team members when "Walking with Hui" premiered, and said that he would continue to recruit more personnel after the year.
At present, as the fans of the live broadcast room continue to grow, it is expected that the team size will gradually grow.
And in the live broadcast of the past few days, Dong Yuhui also revealed the problem of moving from time to time. Dong Yuhui said that everyone likes tall office space, but rent is a reality that cannot be ignored, and the rent will soar by 5 times after changing the venue, and the cost of rent and other expenses will rise sharply when he opens his eyes.
Anyway, I didn't find a very suitable place, so it can be said that the more I look at it, the worse it becomes, and the more I look at it, the more angry I become. But the move is definitely going to be moved, so the move is already being followed, but the renovation will take at least two months, and it is expected that it will not be moved until June at the earliest.
Dong Yuhui, as the "first brother of Douyin", naturally has the strength to bring goods. On the first day of the live broadcast of "Walking with Hui", it ranked first on the overall list of Douyin with a delivery of 150 million yuan. In less than 20 days after the broadcast, the account sales reached 800 million.
is also a big anchor, Simba once won 4 commercial office buildings in Hangzhou, Xiao Yang bought a house in Hefei for 100 million, and Dong Yuhui has been known as "first brother" for so long, but he still has to worry about rent.
Source: Screenshot from Douyin
At present, the live broadcast room of "Walking with Hui" is likely to be self-financing. This means that Dong Yuhui not only has to face market competition, but also has to assume economic responsibility.
At present, there are 17.173 million fans in the live broadcast room with Hui, and 30.71 million fans in Dongfang Selection, as a new account, it is indeed not easy for Dong Yuhui to achieve such a scale. Moving out of the Oriental Selection Building also means that Dong Yuhui can rest assured that he will be able to show his strength and break out of the world in the future, after all, this is also a little less restrained to a certain extent.
Yu Minhong once revealed in the live broadcast that the income generated by the account will be included in Dongfang Selection, but if Dong Yuhui leaves Dongfang Selection, the ownership of the account will belong to Dong Yuhui.
Even if Dong Yuhui really leaves Dongfang Selection one day, it should not be difficult for Dong Yuhui, who has such a large fan account, to make a comeback.
Dongfang Selection and Dong Yuhui were untied
Of course, a large part of the reason for moving with Hui is that the scale is getting bigger and bigger, and it is normal for the scale to fly solo, and Dong Yuhui wants to get out of a different business model from Dongfang Selection.
At present, the live broadcast room with Hui has not yet brought the self-operated products selected by Dongfang. And self-operated products are the majority of Dongfang Selection's income.
According to the interim financial report of Dongfang Selection for fiscal year 2024, the total GMV of Dongfang Selection is 5.7 billion yuan, and the total number of paid orders for third-party products and self-operated products on Douyin is 59.6 million.
As of November 30, 2023, the number of self-operated products selected by Dongfang has exceeded 264, and the revenue brought by self-operated products is about 1.9 billion yuan.
Source: Oriental Selection Financial Report
Prior to the release of the earnings report, the sale of all of its education business by Oriental Selection to its parent company, New Oriental, had been approved. According to the financial report, after the completion of the sale, Dongfang Selection will become a pure self-operated and live broadcast e-commerce company, which is conducive to the integration of concentrated resources and the development of self-operated products and live broadcast e-commerce business.
Dongfang Selection seems to intend to take the Dongfang Selection Douyin live broadcast room on its own road, and Dong Yuhui's walk with Hui is also to focus on the live broadcast e-commerce business, Dong Yuhui's new account can flexibly adapt to the changes in the live broadcast e-commerce market.
For Dongfang Selection, users and brand reputation have been accumulated in the early stage, and now it needs to focus on the construction of the brand and supply chain.
As early as when the Dongfang Selection APP was launched, Dongfang Selection said that in the future, it will focus on creating more popular products, expanding the scope of SKUs, and ensuring product quality.
And Dongfang Selection's expectations for self-operated brand building are not low. Dongfang Selection said in the financial report that it will expand the number of self-operated products, expand brand awareness, expand the team of excellent live broadcast talents, and invest in technology research and development. At the same time, Dongfang Selection will strengthen the layout and management of the upstream and downstream supply chains, and make in-depth layout and strategic investment in the entire supply chain.
Moreover, at present, Dongfang Selection has long been out of Dong Yuhui's binding, and at the moment when Dong Yuhui's new account was launched, Dongfang Selection's live broadcast room has gotten rid of its dependence on Dong Yuhui and has become a live broadcast e-commerce company that is not influenced by the anchor's IP in the real sense.
Oriental selection is far-sighted
In addition to moving with Hui, Dongfang Selection also generously transferred Dong Yuhui's trademark to Hui's peers some time ago.
Tianyancha information shows that Dongfang Preferred (Beijing) Technology Co., Ltd., an affiliate of "Oriental Selection", has transferred a number of registered "Dong Yuhui" name and portrait trademarks to Youhui (Beijing) Technology Co., Ltd.
Walking with Hui already has Dong Yuhui's trademark Source: Tianyancha
The international classification of these trademarks, including advertising sales, education and entertainment, office supplies, food, etc., was first applied for registration by Dongfang Preferred (Beijing) Technology Co., Ltd. in June 2022. This was also registered when Dong Yuhui first became popular.
Not long before the transfer of relevant trademarks, Dongfang Selection also jointly established Dongfang Selection (Jiaxing) Supply Chain Management Co., Ltd. with Qinglian Food, continuing to increase the layout of the supply chain field and paving the way for the development of self-operated products.
Yu Minhong once said: "Please rest assured, the company is not only registered by Yuhui, but also some other anchors, in order to protect the anchors." He promised that if these anchors want to leave Dongfang Selection in the future, the company will return these trademark rights to them in an appropriate way so that they can protect themselves.
Dong Yuhui also revealed in the live broadcast room, saying that he had a "gentleman's agreement" with Yu Minhong, and "I will give it to me when I go". This time Dong Yuhui "moved", Yu Minhong really gave it.
This also means that since Dongfang Selection has completed the removal of Dong Yuhui, and then extending Dong Yuhui's influence to another live broadcast room, it is actually a way to get the best of both worlds, which can be described as fame and fortune.
In addition, Dong Yuhui recently revealed in the live broadcast that Douyin's team had an afternoon meeting with him and put forward a lot of development ideas and expectations to his peers, especially hoping that he would develop faster with Hui.
Source: Douyin
Dong Yuhui said that Douyin's requirements are too high, and it is fast enough to walk with Hui at present, but there is still a gap with Douyin's expectations, which makes him feel "a lot of pressure".
For the current Dong Yuhui, the independent studio not only has Dong Yuhui's own trademark, but is far away from Dongfang Selection, Dong Yuhui can show his strength in the new venue, create brilliance, and catch up with the development speed of Dongfang Selection.
After moving, it is a new beginning for Dong Yuhui, which is also a high affirmation of Dong Yuhui by Dongfang Selection, Dong Yuhui is currently fully capable of making his live broadcast room bigger and stronger.
For Dongfang Selection, in the future, it can also travel lightly and untie Dong Yuhui's influence, so that Dongfang Selection can flexibly respond to all kinds of uncertainties and become a live broadcast e-commerce company based in the industry for a long time.
Author | Li Ying