Willie Tan

CEO of Skechers China, South Korea and Southeast Asia

Q1

Given the complex current global economic and geopolitical situations, how do you position the Chinese market in your overall global business radar? What’s your outlook for China’s economy and your company’s operations in the country for this year and next?

TAN: China’s position and influence in the global business community have become increasingly important. With the development of the economy and improvement of national strength, China has taken a leading role in many areas, such as its achievements in scientific and technological innovation.

Skechers is full of confidence about the Chinese market as its people pay more attention to healthy lifestyles. National policies have also shown support for sports. The Chinese market has hatched numerous new consumption scenarios, products and services regarding the sports industry, allowing the segment to rise rapidly. The market’s demand for sports and leisure products is increasing, signifying huge potential for our growth.

SUN: China is one of our strategic markets. As China is expected to become the world’s largest luxury goods market by 2025, Hugo Boss sees a lot of growth opportunities. Additionally, Hugo Boss refreshed the brand in 2022, which is very successful in China, and Chinese consumers have been responding well to the new strategy.

We will continue to invest in retail, including exploring store locations in high-end districts and trendy malls. With 200 points of sale in 65 cities, we aim to increase that number. This year, we have introduced a new Boss concept store in Guangzhou, Guangdong province, which just opened on Sunday.

BOZEC: For Tapestry, China is not only a market, but a source of inspiration for breakthroughs and innovation. Our growth prioritizes China as a key market, powering our global growth.

Favorable policies to benefit enterprises are being implemented and promoted, which has also injected kinetic energy into China’s economy. According to our financial report for the 2023 fiscal year, our business saw a 5 percent increase in China, achieving 50 percent growth in the fourth quarter. We see significant potential across our brands in the years to come, and we remain confident in China’s economy.

MACHADO: China is our top export market (40-50 percent) for our pulp products and has presented itself as our fastest-growing market, which poses a significant opportunity for Suzano to increase its presence and further support the industry. We are planning to expand our activities in China not only with our current businesses, but also by tapping new markets, mainly bio-businesses.

To enhance its long-term commitment to China, Suzano further expanded its team in Shanghai in 2022 to better serve the country’s strategic call for its low-carbon economy transition and local customers’ corresponding needs.

ZHAI: The Chinese market has always been important in our global business landscape. I’m optimistic that the next two years will trend toward positive and proactive developments. This year is the first for economic recovery following the pandemic and a breakthrough year for the 14th FiveYear Plan (2021-25). The Chinese market has a huge market size and room for growth. Additionally, the government announced various policies, a positive signal of continual high-standard opening-up. Therefore, we will remain focused on our business in China.