Per­cent

China Daily (Canada) - - SHANGHAI -

how much of the group’s to­tal sales e-com­merce

ac­counts for the first time one of the world’s most pres­ti­gious award cer­e­monies was sup­ported by an en­ter­prise.

“The key to our de­vel­op­ment is our brand­ing. We are not look­ing to be­come a For­tune 500 com­pany by rev­enue. We want to be­come a brand with a his­tory of hun­dreds of years,” added Chen.

Brand­ing mat­ters aside, the de­vel­op­ment of the com­pany’s core busi­ness has been an equally im­por­tant fac­tor in its longevity. Chen said that Hengyuanx­i­ang has man­aged to main­tain its lead­ing po­si­tion in the mar­ket by con­stantly de­vel­op­ing new tex­tiles and wool prod­ucts, as well as stay­ing ahead of the curve. From 1997 to 2007, the group’s sales rev­enue soared from 1 bil­lion yuan ($152.58 mil­lion) to 4 bil­lion yuan.

When e-com­merce started to im­pact the tra­di­tional cloth­ing in­dus­try around 2011, Chen said that Hengyuanx­i­ang was quick to re­act to the trend by es­tab­lish­ing its own on­line sales chan­nels. From 2012 to 2015, the com­pany’s e-com­merce rev­enue

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