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The early phase of growth was conservative, with Bing keen to stay close to the migrant community. As those communities moved beyond Fairfield to places such as Merrylands, Villawood, south to Wollongong and west to Blacktown, Bing Lee moved with them. When Bing died in 1987, Ken Lee became more expansionary.
"We began to open stores in places that were not necessarily migrant strongholds but more mainstream," Lionel Lee says. "Between 1987 and 2007 we've opened more than 20 stores between Canberra in the south and Port Macquarie in the north. With that expansion came a brand development program taking us from our Chinese-Hong Kong roots to a mainstream brand with a distinct Chinese flavour."
Start-up businesses that quickly achieve an impressive growth story have to have a competitive advantage. So, what was Bing Lee's? "Its original competitive advantage was providing credit to migrants who couldn't get finance through regular sources," Lionel Lee says. "
Bing and Ken trusted the migrants. The migrants trusted them and that mutual trust was the core of the business in the early days." While Bing Lee has reached the heights that a publicly listed vehicle would be proud of, it remains a family business.
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