Quadpack manufacturing partner Yonwoo has opened a Chinese sales office as the first stage of its strategy to target the cosmetics market in China. Based in Shanghai, Yonwoo's plans include local manufacturing and a two-phase sales strategy to gain a firm foothold in the region.
"Life is getting better in China and people are looking for good luxury brands", explains Winters Jang, head of Yonwoo's overseas sales team. "The cosmetics market is growing rapidly, so the time is right for us to move in now. It is vital to have a local presence. In China, the relationship between supplier and customer is very important."
Building relationships is the main function of the sales office. It will be targeting Chinese branches of global companies initially, expanding to include local companies in the longer term. Yonwoo's Chinese client base already includes blue chip companies such as Unilever and Johnson & Johnson.
A Chinese manufacturing plant is planned within two years, to ensure competitive lead times. Projected sales are $30 million within five years.