BRANDT. C. LOUIE CANADIAN CLUB OF VANCOUVER MARCH 22 ND , 2017 Page | 1
Good afternoon. Thank you Janet for that very kind introduction. I would also like to thank Ray Greenwood, for inviting me to be here today. It is quite auspicious that I would be invited to speak to you at this particular time, when we have so much to celebrate as Canadians. I consider it an honour to be here with the friends and members of the Canadian club as we celebrate C anada’s 150 th anniversary of confederation this year. The Canadian club is celebrating 110 years of service in the community, a rare accomplishment. That kind of longevity is something I am familiar with. I have a deep appreciation for the level of commitment and passion required to sustain an organization and its people, long term. The H.Y. Louie group of companies will celebrate 114 years in business this year, while London Drugs will mark 72 years of service in Canadian retail this fall. At a time when we are seeing the demise of some truly great retailers, many of them household names; it is gratifying to know that we are thriving, and continue to grow. The theme for my talk today deals with the “Parallel Paths” taken by the H.Y. Louie group of companies and with the growth of Canada over the last century. My maternal great- grandfather’s arrival in C anada actually predates confederation. Seto fan gin arrived in what was then fort V ictoria in 1862. He worked sewing miner’s tents in the caribou during the gold rush. Page | 2
Seto more, my maternal grandfather was the Asiatic Passenger Agent of the Canadian pacific steamship lines. He was also a highly respected scholar and artist, who at one time was vice-president of the Canadian astronomical society. The Asian library at UBC believe the Seto family to be the oldest Chinese family in Canada, who originated during the gold rush, and who still have direct lineage and descendants today. The first steps of the journey for my family’s company began in 1896 when my paternal grandfather, Hok Yat Louie, left the Guangdong province of China to seek his fortune in Canada. It was less than 30 years after confederation; a scant 5 years since sir john a Macdonald had left office and Wilfred Laurier was prime minister. Laurier, arguably one of our great statesmen said, " Canada is free and freedom is its nationality ." Those words could have been spoken quite recently and still ring true. Freedom, and free enterprise is what Hok Yat sought here. It is what he found and built on, despite facing discrimination and great adversity. The Chinese immigration act of 1885 included a head tax, which by 1903 had been raised to $500 per person, to deter the Chinese from immigrating. Some of you here today may have heard me talk about how he paid the head tax for hundreds of his countrymen; paving the way for their futures, and countless numbers of their successive generations. Whether they are politicians, or business leaders, there are shared qualities of great tenacity, and passion, in our founders. They see well beyond what others consider as the horizon. They are pragmatic about the here and now; but their vision for the future is inspiring and infectious. So it was with those that built our nation over time, and those that built businesses and organizations that would help sustain that steady growth. Page | 3
By 1903 Hok Yat had opened the Kwong Chong Company on what is now Main Street in Vancouver. Applying the vision and entrepreneurial spirit just mentioned, he expanded and moved to a warehouse space on east Georgia Street, just 8 years later. In 1927 William Lyon Mackenzie king was prime minister of Canada; the same year my grandfather renamed his company, and incorporated it as the H.Y. Louie Company Limited. He had been in business almost a quarter century by then. It could be said that Mackenzie King followed in the family business, his being politics. However, his grandfather, like mine, was also involved in retail in his very early days in Canada. One of Mackenzie K ing’s mottos was said to be, " help those that cannot help themselves ." Perhaps because they were men of the same generation, my grandfather’s words of advice to his sons echo those of Mackenzie King. He wrote these words in a letter of advice to his sons shortly before his death: “ don’t be afraid to be kind and charitable, i ll deeds should be avoided. These are my words for you to preserve, treasure and remember .” Once again, the shared sentiments of both Mackenzie king and Hok Yat Louie, are words that have defined Canada throughout history and never more so than today. We are a nation known for peace keeping, kindness, and compassion for all. In 1934 my grandfather died leaving the family business to my grandmother, my father and his siblings. R.B. Bennett was prime minister and had the misfortune of leading the country through 5 years of the Great Depression. As many of you as business leaders, who have had to take over a company in precarious time will know, it was a daunting proposition for him. Page | 4
After introducing his version of “the new deal” in 1935 he said in part, " In the last five years great changes have taken place in the world ... The old order is gone. We are living in conditions that are new and strange to us. ” He was of course referring to those times; but his words strangely echo for us today. It’s not my intention to provide a history lesson today, however, in appreciating our history we can sometimes find new ways forward… …and forward is where we have gone as a country; from diff icult beginnings to global leadership. Similarly, the seed of an idea my grandfather had, has grown from a small store front in Chinatown to a diverse group of companies across western Canada and Asia. Our lines of business cover grocery, drug retail, a charter airline and even a luxury Relais & Chateau resort. We are now well into our fourth generation of the Louie family at the helm of the business and the fifth one is waiting in the wings. Those businesses all began, or grew, based on Hok Y at’s focus on building a business based on a simple but powerful foundation, of anticipating what customer’s needs were. It was true then – and is still true today. As a family company we appreciate that each generation must make their own mark. As leaders of communities or companies, we must be cautious not to impose ourselves on successive generations. We can provide context, support, and guidance ... But they must be allowed to make their own way. Our corporate strategy for future growth has evolved over time. We have had to let go of some of our traditional businesses in response to market trends – and we have embraced new lines of business, to meet the changing, and future needs, of our customers. Page | 5
I think as a business and community leader, I would be remiss if I left here today without commenting on the current landscape globally, and here at home in Canada. I say this, because a core value instilled in each generation of my family, is that business leadership also means providing leadership in our communities, and demonstrating good citizenship. While others throughout our history may claim this - we are now at a crossroads as Canadians, with many unique factors at play. This past January was my 25 th year attending the world economic forum in Davos. During that time there have been many global events that have influenced the discussion there, but none more so than this year. While the official theme was on responsible leadership , the unspoken agenda was questions surrounding Brexit, the rise in populism and curiosity about then president elect Trump. In the absence of U.S. leadership at the conference, there was great excitement about president Xi Jingping of C hina’s speech. Though he never mentioned him by name, it was clear he was sending a subtle message to the U.S. President-elect, when he spoke of conflict and trade wars having no winners. He also expressed that détente and global trade among all nations was the only way to go forward. … I t would be interesting to hear president J ingping’s thoughts n ow that we are two months into M r. Trump’s contentious presidency! One of the reports featured annually at Davos is the Edelman trust barometer, which I’m sure many of you are familiar with. Oxfam once again this year released their report on who holds the bulk of wealth globally. Page | 6
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