While e-commerce giants like Amazon and Alibaba continue to rise, many physical-store retailers are dying off. MINISO is a rare exception, however. Founded in 2013 by Chinese entrepreneur Ye Guofu and Japanese designer Miyake Junya, MINISO has exploded into an emerging business empire with 1,800 stores in 40 countries, delivering an eclectic collection of affordable, curated goods, challenging the physical retail naysayers. What is the key to MINISO’s success? Through careful consideration of the customer and a unique aesthetic, it manages to do what online stores cannot: Deliver an experience.
A common challenge faced by Western tech giants like WeWork and Airbnb: in China there are locally made equivalents already. Yet China is a market hard to ignore. Six years after its founding, WeWork entered the Chinese market and is trying to adapt. Localization happens in every detail, from office design to the hiring of team members. but how will the company win the already very fierce competition among the co-working spaces in China? With a more global network, or a more experienced team in the shared-office? How will it deal with the Chinese government?
Yidao Yongche was the first car-hailing business in China. At first, the company was badly affected by opposition from local authorities—but later on was hit by the rise of Didi and Uber China, which became popular through subsidies and low prices. In July, Chinese authorities finally legalized car-hailing apps and stipulated that unfair competition, such as steep discounts and subsidies, should stop. So will Yidao seize the opportunity and grow? Zhou Hang, CEO and founder of Yidao, talks about his company and the future of the “internet of cars”.
French carmaker Renault has finally begun production in China after selling imported cars here for more than a decade. In February 2014, Renault signed a joint venture agreement with Dongfeng Motor Corporation. Carlos Ghosn, chairman and CEO of the Renault Group, once said that he hoped that Dongfeng Renault could get 3% of the Chinese market. Jacques Daniel, CEO of Dongfeng Renault, has his work cut out for him: the market is slowing down and rivals are already well-entrenched. In this interview Daniel explains how the company is adjusting its strategy for a slowing Chinese market, marketing to the Chinese consumer and the opportunity in electric vehicles.
When you think of sports brands, there’s pretty much a 50% chance that it’s Adidas that comes to mind. This, after all, is the company that has provided the match ball for the FIFA World Cups, whose final is the most watched sporting event in the world, since 1970. But for all that, success in China hasn’t been a given, and at the turn of the decade Adidas found itself languishing in fourth place behind the likes of Nike and Li-Ning.
Over the past 30 years Haier CEO Zhang Ruimin has led the company through several path-breaking business model changes, which have helped the company build a strong brand, grow both organically and through acquisitions, globalize and “get close to the customer”. Zhang is now leading the company through yet another transformation to make it what he calls an “internet-based platform company” made up of extremely responsive micro-enterprises. For the closest parallel, think of a Silicon Valley within a company. In this rare interview, he talks about his management philosophy.
Unlike parent company Lenovo, ZUK is trying to woo youngsters and blaze its own path. To do that it is immersing its engineers in their environment and involving youngsters in the conceptualization and design process.
BMW China President and CEO Karsten Engel on how China became the company’s largest market globally, and how things are shaping up in the ‘New Normal’.
Chinese smartphone company OnePlus has received many accolades in the global market. Can it recreate the same magic in China?
Chinese fast fashion brand Handuyishe is beating well-established rivals by focusing exclusively on e-commerce. Why is that a good strategy?