That year, Mandarin's overseas expansion had reached its peak.
Mandarin has been working hard on research and development for many years. Liu Mingchuan and Wang Cainian have made great contributions to the company. Later, Chu Yu recruited several well-known professors, acquired two domestic laboratories, and also acquired an Argentinian essential oil brand and a French skin care brand. Mandarin then acquired a fragrance soap brand, Lavrou, and even acquired the well-known skin care brand Laura for 4 billion RMB.
Mandarin's brand has grown rapidly through continuous acquisitions and expansions.
In the past, when Li Miao formulated overseas plans for Mandarin, he didn't have much confidence. He felt that if his brand wanted to make money in other countries, it would seem like he was asking for help from others, and he always had a lack of confidence.
Things are different now. Back then, Mandarin became an instant hit by hiring star athletes as spokespeople. In recent years, Mandarin has continued to use star athletes. Mandarin expanded early, and the quality of its products is good. The company invests at least several billion yuan in research and development every year.
Fortunately, the economy has been good in recent years, people are willing to spend money, the Chinese market has grown, and the overseas market has also been growing.
Mandarin now owns 14 brands of varying sizes.
Mandarin draws on the strengths of these brands and learns from their experiences to grow.
Originally just a small sapling, Mandarin has grown into a towering tree through continuous acquisition and expansion, and is now a huge skincare empire!
Mandarin is the most well-known Chinese brand abroad and a major source of tax revenue for China, making it a major taxpayer.
Mandarin's bags have become a top-tier luxury brand, highly sought after by people both at home and abroad.
In 2002, Mandarin's revenue reached US$17 billion, with a profit of approximately US$2.6 billion.
In 2003, Mandarin's revenue increased by 24% year-on-year, the highest in recent years. At this growth rate, Mandarin is expected to become a leading international skincare brand.
In the same year, Chu Yu and Li Miao, along with several other senior executives, held a meeting and formulated Mandarin's future expansion plan. The brand would spend more money on advertising to enhance its brand effect, while also increasing investment in scientific research in preparation for the best era of online shopping!
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