List of 'global' Chinese brands ever growing
Miniso founder: 'Without courage, there's no success'
By WANG ZHUOQIONG | China Daily | Updated: 2024-11-12 10:26
"For sustainable development, companies must possess strong governance capabilities that align with modern global standards," Li added.
For Miniso, going global since 2015 has been about more than just store openings.
Founder Ye Guofu highlighted that Miniso's strategy has focused on what he terms "interest-based consumption" — a model centered on lifestyle and emotional value for consumers.
"Today's consumers want more than functional products. They value experiences and emotional joy," Ye said.
Miniso's new brand strategy, the Global IP Joint Collection Store, focuses on partnerships with popular intellectual properties worldwide.
"We collaborate with over 150 well-known IPs to design unique products," he added. "Our vision is to become the world's leading IP design retail group."
Miniso's success in Indonesia, where the company opened a 3,000-square-meter store in Jakarta, reflects the power of its model in young, vibrant markets, he said.
"Indonesia has a youthful population, and Miniso's growth there is strong," Ye said. "Young consumers want fun, engaging shopping experiences, which is exactly what we provide."
As Chinese companies expand their global footprint, they continue to face both opportunities and challenges. With robust strategies focused on technology, inclusiveness and community partnerships, these enterprises aim to establish themselves not just as global players, but as local contributors in every market they enter, he said.
"Without courage, there's no success," said Ye, and urged Chinese entrepreneurs to boldly step into international markets. "Chinese enterprises should confidently move forward and embrace the world, starting with Southeast Asia."
Wu Dan, CEO of Hero Games and the first investor and co-producer of China's first AAA game, Black Myth: Wukong, has seen the game become a global sensation since its release in August. Inspired by the classic novel Journey to the West, it has captivated players worldwide with its rich storytelling and high-quality production.
Wu echoed Ye's sentiment that "going overseas requires courage", particularly in the gaming industry's R&D efforts on a global scale.
"Many people don't fully understand China's current standing in the gaming world," he noted. "For example, nearly 50 percent of our users are already international, with around 15 million players outside the Chinese market."
The company has successfully entered markets in Southeast Asia and South America, but Wu acknowledged that their operations in North America have been challenging.
"Our games haven't fully matched local tastes, and strong localization is essential to succeed in any market," he explained. "That's something we're still working to improve."
Wu pointed to the importance of localization in promoting Black Myth: Wukong globally.
"When we started marketing in the United States, we discovered that US players were searching for 'Sun Wukong' in pinyin, drawn by his heroic qualities," he said. "In Europe and Thailand, audiences are more interested in the historical aspect, while in Japan, players often search for 'Black Myth'."