China is vast; Chinese enjoy French cosmetics, and the market is expanding exponentially. Exporting to China is nowadays like an inescapable El Dorado. However, addressing this complex market is not that easy; choosing the right strategies and following the essential steps is unavoidable. Some practical advice by the experts gathered by the French Cosmed, for its 3rd International meeting.
“In 2007, more sky-scrapers were under construction in China than there were in the entire USA. In this country, new consumers are many more than the full panel of French consumers. Today, China is a dominant country, and will be even more tomorrow. It is an unavoidable actor of our economy. Going to China, it is going to find growth where it is,”
affirms Patrick Bogaerts, the founder of
One Stop Group
, a specialist in supporting companies during their development in China.
“However, beware!”
he adds immediately,
“after the figures of the French MEDEF (Movement of the Enterprises of France, the largest union of employers in France), 76.4% of the French companies that develop business with China lose money, or fail, within the first three years. By scores or by hundreds of millions, euros are wasted due to a lack of preparation. When one knows nothing about China, one is headed for disaster.”
Yet, the Chinese market is accessible, and a success story is possible. As long as one takes the right path and uses the right tools.
Time to think
Before starting the project, better to start by thinking, says this expert. And by asking oneself the right …
