Early Life
Shi Yonghong co-founded the Haidilao hot pot chain in 1994 with Zhang Yong and two friends who would become their wives. The first restaurant was established in Jianyang, Sichuan province, funded by their personal savings.
Rise to Success
Haidilao quickly became a success, expanding its locations across China and internationally. The company is known for its attentive customer service and has become one of the most popular restaurant chains in China. In September 2018, the company went public in Hong Kong. Shi Yonghong, along with his wife Li Haiyan, holds a significant stake in the company, which has contributed to his wealth. Haidilao's success has propelled its founders into billionaire status.
Key Business Strategies
Haidilao's success can be attributed to a few key strategies. The company has focused on providing excellent customer service, including offering free manicures to waiting customers. Haidilao also expanded its business to include automated kitchens to improve efficiency. Haidilao has also shown a strong emphasis on financial incentives for its managers, leading to improved performances, and breaking even within a few months.
Philanthropy
While specific details on Shi Yonghong's philanthropy are not readily available, Haidilao has demonstrated its commitment to social responsibility.