In this episode of China Paradigm, Mike Hofmann, Managing Director at Melchers (Beijing) Ltd., speaks with Matthieu David-Experton about supporting the exportation and operations of companies in China.
- 1:02 About Melchers
- 3:48 Net sales
- 5:27 Melchers’ case studies that are most illustrative of China
- 8:09 Competing with other companies
- 10:06 Elements and circumstances to why companies would use Melchers’ services
- 12:41 Navigating risks
- 14:26 Costs of service and business model
- 16:15 Introducing a premium brand in China
- 20:31 Training and time investment for selling a luxury product
- 22:37 Organization and company set up
- 25:50 Locations
- 30:35 Standard way of working with malls
- 31:56 Most successful format for market entry
- 34:17 Cost of companies having their own shop in premium locations by space
- 35:09 Budget allocations to opening the first shop
- 37:40 Managing online presence of luxury brands
- 40:40 Working with a TP (T-Mall partner)
- 43:45 Concerns about the TP
- 44:50 Books that inspired Mike’s China journey
- 46:05 Staying up to date with China
- 46:55 Something Mike would do in China if he had extra time
- 48:34 One unexpected success in China
- 50:28 One unexpected failure in China
🔖 Retail business development in China: to be focused and specialized
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We believe, that China, with 20% of world population and as the second world economy, is impacting every single business, small to big. That is why it is a new paradigm. How does China impact your business is the ultimate question we will answer through those podcasts.
China paradigm is a China business podcast sponsored by Daxue Consulting where we interview successful entrepreneurs about their businesses in China. You can access all available episodes from the China paradigm Youtube page.
