(TheConservativeTimes.org) – Chinese consumer markets are using Singapore as a cultural testbed for their goals of expanding globally. Singapore is a great location for the expansion because of its blend of Asian and Western cultures.
Chinese tea brand, Chagee, opened up three stores in Singapore to kick this off. Many other brands such as Pop Mart have also joined in Singapore and they even had their annual toy show there. Chinese companies have spoken of global ambitions before, but their latest strategy pushes this agenda by expanding into Southeast Asia and starting in Singapore.
The principal analyst at global market research company Forrester, Xiaofeng Wang, spoke out about the plans. Wang said, “Singapore is a place we call it like where east meets west, right? So for Chinese companies, if they want to go overseas, I think Singapore is a nice middle ground.”
The go-to-Market Director of Southeast Asia at Pop Mart International, Jeremy Lee, said that Pop Mart is considering establishing a headquarters in Singapore.
Lee said, “If there is anything Pop Mart’s executives want to launch in Southeast Asia, anything they want to start looking at or whether it works, Singapore is a good testbed to start … to quickly look at whether the idea works or not, and then kind of fine tune from there.”
Chinese companies long manufactured Western items, but now they are working on establishing their own brands. Wang said that this new generation of Chinese brands is different from what we’ve seen before, and they’re not trying to hide their “China identity.”
These brands will be embracing their cultural identity and this will help them stand out from the competition and give them a “unique advantage,” according to Wang.
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