At Robert's signal, manager Cameron Oaks passionately declared, "Gentlemen, since Kotfe entered the department store and supermarket sector at the beginning of the year, it has achieved remarkable success in Vienna.In just three short months since opening, starting from scratch, it has become number one in the industry..."
"Excuse me, Mr. Cameron, but if the 'number one in the industry' you're referring to is 'number one in industry losses,' then I think there's absolutely no need to mention it!" James Hilder bluntly interrupted Cameron.
James Hilder was Robert's uncle, the company's second-largest shareholder, and the former HR director.
He co-founded Kotfe Department Store with the elder Robert and held significant influence within the company, though he was now retired.
Robert's face changed dramatically.The fact that the retired James had appeared clearly indicated his profound dissatisfaction with Robert.
"Mr. James, the losses are only temporary.
Once we drive all our competitors out of the market, that's when we'll reap the rewards!" Cameron argued.
"Then, Mr. Cameron, tell me how much longer it will take to drive all our competitors out?" Jamar Hilder (Robert's younger brother) asked with a sneer.
Seeing Cameron fall silent, Jamar continued, "You must understand that our losses are increasing every day.Kotfe is a large and established company, but let's not forget that our foundation is department stores, not department store supermarkets!
We cannot pour all our resources into this bottomless pit!"
Robert saw that Cameron was defeated and knew it was his turn.
After a moment of thought, he said, "Alright, it's come to this point.Dwelling on these useless things is over!"
"We at Kotfe have already invested too much in the department store supermarket—a full eighty thousand pounds!Gentlemen, do you think we can still withdraw now?"
"What? Eighty thousand pounds? Are you sure you haven't made a mistake?" Jamar jumped up and questioned Robert.
"My dear brother, the information was sent to all shareholders yesterday.Don't tell me you didn't receive it!" Robert said, annoyed.
Robert had always had little patience for his playboy younger brother, inwardly cursing, "Damn it, at a time like this, you idiot are still causing trouble for me.I don't know what's going on, we're both from the Hilder family, how did such an idiot appear!"
Jamar gave an awkward laugh and then returned to his seat, clearly still a little afraid of his older brother.
James thought for a moment and then stepped in as a mediator, saying, "Alright, it's come to this point, everyone should try to work together.The company has already invested eighty thousand pounds, which is a tenth of Kotfe's assets.We are already in too deep to pull out."
He paused, and seeing no one speak, James asked, "Robert, the company's cash flow is probably about to run into problems, isn't it?
What's your plan?"
"The company has made a lot of money over the years, and everyone's annual dividends have not been small.I hope all shareholders will inject a sum of money into the company for turnover, in principle, contributing proportionally!" Robert said calmly.
The room instantly erupted in chatter, with some agreeing and others opposing.
"How much exactly is the shortfall the company needs to overcome this crisis?" James asked, concerned.
Everyone turned their gaze to Robert, full of anticipation.It seemed that if the difference wasn't too large, they were prepared to contribute funds."I've had all the company accounts brought over.The current capital shortfall is two hundred thousand pounds, which is equivalent to five years of everyone's dividends!" Robert said solemnly.
Everyone's faces changed.This number was simply too large.Even if divided by shares, it wasn't a small amount.They certainly had assets, but who would keep so much cash idle?.It would either be spent or invested in property.
"How can it be so much?.The supermarket project only invested eighty thousand pounds!" Jamar asked, his face pale.
"It's simple.The department store has also been impacted.Many of our products overlap with the supermarket, which has affected our profits.Crucially, the supermarket project still needs continued investment.This figure is only under ideal conditions; more funds may be needed later!" Robert explained.
"We can provide the money, but what is your ultimate goal?" James asked, looking intently at Robert.
Robert knew that if he could convince James, then today's matter would be settled.
The others were not a concern, as their combined shares already exceeded two-thirds.
"To clear out those small fry and let Kotfe Department Store Supermarket stand shoulder to shoulder with Volvo!" Robert said solemnly.
"Hmm, very good.Although this goal is somewhat difficult, it still has some feasibility!" James revealed a long-lost smile.
Frankly speaking, Robert was the most capable person in the next generation of the Hilder family, and James had always thought highly of his nephew.
At the same time, he was also very worried about Robert's arrogance.
The Hilder family was just a rising star in the capital field, without such strong power; the Austro-Hungarian Empire was still a world of nobles.
This time, Robert directly launched a price war, without resorting to other tactics.
It wasn't that his moral cultivation was high, but rather that he simply didn't dare to break the rules.
Facing the Koháry family, if it weren't for the support of Hungarian flour capitalists behind them, they wouldn't have chosen to enter the market at this time.
"By the way, Robert, what did those Hungarians say?Now is the time when we need their help!" James went straight to the core.
"I've already communicated with them, and it's not very ideal.Besides what we had already agreed upon, they will provide us with a loan of two hundred thousand pounds, and flour can be purchased at cost price.
They don't plan to do anything else," Robert said bitterly.
Indeed, two hundred thousand pounds is a large sum of money, but it's a loan, and it's secured.
Aside from being able to purchase flour at cost price, they didn't get the benefits they had anticipated.
"Isn't this to be expected!They can't possibly put in a lot of effort for us.You need to implement these conditions quickly, otherwise, if Ferdinand reacts, we might not even get these, and it won't be so easy to get another loan later!" James instructed seriously.
Robert said bitterly, "Okay, Uncle, I'll go do it right away!"
Clearly, this incident was a huge blow to him.
The influence of the old nobility was beyond his imagination.
Ferdinand had only shown a little goodwill, and those flour capitalists had already retreated.
"Robert has fallen into the trap, Franz, what are you planning to do next?" Ferdinand asked, looking at Franz expectantly.
"Your Highness, why not let them sink deeper, and then we'll act!For now, I plan to clear the market, for example, by lowering prices by another 5 percent.In less than two months, half of Vienna's supermarkets will be dead!" Franz said with a wicked smile.
Ferdinand also smiled.Even though all the supermarkets in Vienna were operating at a loss, the Shuanghui Food Group was raking in profits.
Retail prices had dropped, but sales had increased, and the ex-factory prices hadn't changed.