The Mid­dle King­dom Wants Its Own Magic Walt Dis­ney

En­ter­tain­ment ▶ Theme park op­er­a­tors tar­get China’s grow­ing con­sumer class ▶ “They want ex­pe­ri­ences, not just shop­ping”

Bloomberg Businessweek (North America) - - Companies/ Industries -

The Chi­nese are no strangers to theme parks. The main­land is home to about 300, from one in Shen­zhen fea­tur­ing repli­cas of land­marks such as Egypt’s Sphinx and the Eif­fel Tower to Yun­nan prov­ince’s Dwarf Em­pire, an at­trac­tion where all the per­form­ers and staff are lit­tle peo­ple. But the in­dus­try is quickly get­ting more crowded. Dalian Wanda Group on May 28 opened its $3.2 bil­lion Wanda City in Nan­chang, which in­cludes a theme park, a movie park, and an aquar­ium. And on June 16,

will un­veil its $5.5 bil­lion Shanghai Dis­ney Re­sort, where Mickey Mouse will co­ex­ist with zo­diac char­ac­ters fa­mil­iar to Chi­nese tourists. Five dozen more venues are sched­uled to open for busi­ness by 2020.

China’s theme park mar­ket will

the sec­ond-largest stock div­i­dend in U.S. his­tory. Also sells 20% of All­state; it’s the largest IPO in U.S. his­tory.

1995 Dis­trib­utes rest of All­state to share­hold­ers. Sells Cold­well Banker.

1997 Sells its ma­jor­ity in­ter­est in Sears, Roe­buck de Mex­ico. 2002 Buys for­mer sail­ing gear re­tailer Lands’ End. 2003 Sells re­tail credit card busi­ness to Citibank. 2005 Hedge fund man­ager Sears’s

largest share­holder, merges it with Kmart. Sears Hold­ings starts sell­ing Diehard bat­ter­ies and ac­cept­ing Sears cards at Kmart. 2006 Begins sell­ing Crafts­man tools at Kmart.

Spins off out­let and neigh­bor­hood stores.

Spins off Lands’ End.

Con­sid­ers putting Crafts­man, Ken­more, and Diehard brands on the block.

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