In 2011, China-based Wensli Group’s newly appointed chairwoman was preparing to transform the company’s silk business into a global luxury brand. It was a lofty goal for a company that started out as a state-owned silk factory before growing into the largest silk-producing company in China. Tapping into the luxury market, however, presented a challenge because Chinese companies were better known for producing cost-conscious products. That meant Wensli, a family-owned business, was facing a huge hurdle in building a brand in a marketplace where it simply had no experience. What steps are needed for the company to gain a foothold in the high-end luxury segment currently dominated by European players? Should the company seek talent expertise from beyond its borders to build an international luxury brand?
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