Managing brands with a license to thrill

take Chinese brands to the US, when there are more famous Chinese brands. Our network should not be just one-way; it is going to go two ways to help develop Asian brands in the US and in Europe.

What is the company’s strategy in China?

We are targeting mostly mid-level consumers, not luxury consumers. We will focus a lot on online business, and on retail selling to department stores and hypermarkets like Wal-Mart, depending on the brand. We are also opening up some of our own stores that are connected to online sales, so that shoppers can come to our store to see what the brand is about, try things on, and maybe just order it and have it delivered to the house. It’s a more interconnected, multichannel way of buying brands.

Currently e-commerce accounts for 15 percent of our revenue.

We are working with the two major e-commerce players in China, Tmall and JD.com Inc. We were there at the night of Nov 10, the night before the kickoff of Nov 11 — the online shopping festival. My wife Coco was singing that night.

What is your business philosophy?

The one thing I believe in is doing the right thing. So everything we do, should be right for the employees, right for the shareholders, right for the customers. That’s very important. In order to get there, I surround myself with the best people, people who are better than me, in many ways. I also give people relatively a lot of freedom.

My employees and I all know that we are part of a bigger story. We are in this together, and creating something that is bigger than all of us. We are changing something, changing the industry.

In the sourcing business, we changed the industry. I want to change the brand industry and I think all the people around me want the same thing. They are excited about it.

What has led you to your success?

One thing for sure is we all work very hard. Not just me, the whole company, the people around me. Being a good person is also very important. Being honest and always doing the right thing, even if it costs you money, because your word and your name are more important than money.

The more you do that the more you can build your own brand and people believe in you.

My wife believed in me from the day I met her and people around me believed in me. The key is not to lose that goodwill.

At the end of the day you only have your brand and your image.

How do you maintain the balance between work and life?

It’s very hard to keep a balanced life. My wife doesn’t keep a balanced life, either. She works really hard, too. People thought that when she married me, she would become a stay-at-home mum and wife. She did that for a little while, but not for long. She chose to work really hard, not for money but for what she loves.

I’m the same way and my children are used to that.

My wife and I are used to each other. Our life revolves around her work, my work and the kids, so it’s integrated. It is better now that my older daughter works for Global Brands in London.

It is also very important to stay healthy in order to keep a balanced life. To exercise your body and you mind is very important.

What suggestions would you give to ambitious youngsters in China?

Canadian

The world has changed a lot. I always believed in being a pioneer in whatever you do. It could be to start something in a new city in China, or it could be a new type of technology. If you want to go into business, you need to find something that people don’t know they want yet.

Getting into your own business is very difficult. I would suggest young people go work for somebody first before they start their own business. Youngsters should work hard, they should think for long term, and they may have to work for somebody for 10 years before they have the background and experience to go out and have their own business, because starting a business is very tough.

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