In the future, Chinese companies and their overseas brands will seek to evolve in a manner that betters adheres to regulatory bodies, protect consumer data and leverage technology and social media platforms to enhance scalability while at the same time reduce costs. Meanwhile, although Douyin is controlled domestically, its other globalized business such as TikTok was registered under the name of a holding company in the Cayman Islands. Now, the new CEO of ByteDance Liang Rubo and a few other executives are operating from offices in Singapore and Los Angeles. For instance, ByteDance has been trying to decentralize its global business. After accessing governments’ moves to industry giants and the trading tension between China and the U.S., Chinese brands seeking overseas business are looking for different operational modes to avoid further regulatory entanglements. In addition, the Chinese government implied a technology crackdown by asking for an ownership stake in the ByteDance Chinese version of TikTok-Douyin, which triggered Republican Senator Marco Rubio’s suggestion that President Joe Biden should ban TikTok in the United States. shares plummeted to a record low after it ran afoul of the Chinese regulatory environment as well. The subsequent suspension of Ant Financial Group’s SBFG IPO, and a fundamental company restructuring also ensued.
#The future trend of chinese conji series#
Since late 2020, Alibaba got ensnared in a series of scandals that contradicted guidance from Chinese regulatory bodies and as a result saw $2.75 billion in fines for antitrust violations. In 2021, China has been enhancing operation regulations by encouraging domestic companies that expand overseas to follow a series of domestic regulations and file for local registration. The third trend we observe is the shift in operational modes. The success of Florasis and other Chinese brands demonstrated how local Chinese brands can establish a foothold in the US market in a relatively short time horizon despite tumultuous relations between Washington and Beijing.ĭidi shares plunged since their June trading debut Bloomberg The influencer went viral with products and has now reached over 14 million followers. The first single video went viral rapidly and reached content exposure to over 5 million people. Before the launch, it targeted a micro-TikTok influencer with 200k followers, to do a makeup tutorial video with Florasis products. To localize its products, Florasis used the power of social media and marketing influencers. In 2020, Florasis planned to launch a new product line overseas. As a brand with the most traditional Chinese style, Florasis, a domestic cosmetics brand started in 2017 found its way into the global market including western Europe, North America, Oceana, and Russia. By utilizing the power of e-commerce, Chinese brands are opening a new market with localization. It was agreed during the forum that defining the brand image and localizing products with branding strategies to align with target audience culture is the key to Chinese brands’ success overseas. On December 1 st, 2021, The Chinese Brands Overseas Summit Forum was hosted online and localization became a ubiquitous catch phrase. The second trend is the growing maturity of branding localization.
0 kommentar(er)
