Forbes on Nostr: Billionaire’s Snack Flagship Changes Growth Recipe As China Pace Slows ========== ...
Billionaire’s Snack Flagship Changes Growth Recipe As China Pace Slows
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Want Want China, the snack and beverage company led by billionaire Tsai Eng-Meng, is changing its growth strategy as sales and shares decline due to slower growth in mainland China. Revenue fell by 4.4% in the 12 months to March 2023. Want Want China is now focusing on private-label snack business and low-alcohol beverage drinks. It is also looking to increase its revenue from outside of mainland China, with a factory in Vietnam as the first step towards expanding globally. Want Want China's chairman, Tsai Eng-Meng, is keeping his family involved in the business as he pursues wider ambitions. The company is also considering entering the coffee drinks market and expanding internationally, particularly in Southeast Asia and Western markets. Want Want China's shares are down 16% from a year earlier and below their recent peak of more than HK$8 in 2022.
#WantWantChina #TsaiEngmeng #SnackIndustry #BeverageIndustry #ChinaMarket #PrivatelabelBusiness #LowalcoholBeverages #VietnamFactory #CoffeeDrinksMarket #InternationalExpansion
https://www.forbes.com/sites/russellflannery/2024/04/20/billionaires-snack-flagship-changes-growth-recipe-as-china-pace-slows/
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Want Want China, the snack and beverage company led by billionaire Tsai Eng-Meng, is changing its growth strategy as sales and shares decline due to slower growth in mainland China. Revenue fell by 4.4% in the 12 months to March 2023. Want Want China is now focusing on private-label snack business and low-alcohol beverage drinks. It is also looking to increase its revenue from outside of mainland China, with a factory in Vietnam as the first step towards expanding globally. Want Want China's chairman, Tsai Eng-Meng, is keeping his family involved in the business as he pursues wider ambitions. The company is also considering entering the coffee drinks market and expanding internationally, particularly in Southeast Asia and Western markets. Want Want China's shares are down 16% from a year earlier and below their recent peak of more than HK$8 in 2022.
#WantWantChina #TsaiEngmeng #SnackIndustry #BeverageIndustry #ChinaMarket #PrivatelabelBusiness #LowalcoholBeverages #VietnamFactory #CoffeeDrinksMarket #InternationalExpansion
https://www.forbes.com/sites/russellflannery/2024/04/20/billionaires-snack-flagship-changes-growth-recipe-as-china-pace-slows/