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