introduce a premium brand to China

China Paradigm 77: How to introduce a premium brand to China with Mike Hofmann

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.