Aomaijia opens door to new e-commerce opportunities in China
Aomaijia, the fastest developing e-commerce platform in China takes five Australian companies on board, in a new agreement.
Aomaijia claims to have developed the most integrated e-commerce platform in China. It allows consumers to purchase overseas-manufactured products as well as have the ability to source brands directly from the supply chain, sales channels and consumer delivery, cutting down on delivery times whilst increasing the chances a product will be available. Established in 2015 in Guangdong, the platform launched in 2016 and by 2019 it’s consumer base had grown by over 200%, with now more than 30 million registered users across three digital platforms.
The company is now able to cement its status as one of the fastest growing e-commerce platforms in the country with a new deal signed between five Australian companies; Sukin, Kids Smart, Nestle Australia, B.box and TASMAN UGG. Swisse and Blackmores are already available on the platform and add their names to a list that comprises more than 100,000 product lines across 3,000 brands.
"Even though most of our sales go through digital channels we are not simply an online mall. Other online trading platforms allow overseas companies to connect very quickly with millions of Chinese consumers; but they have significant limitations. The biggest drawback is that online malls sell many products through second-hand agents who may or, in many cases, may not be appointed by product producers. They generate sales but the trade-off is a loss of control in branding, distribution and retail pricing."
China has managed get an edge over its two main online retail competitors, Taobao and T-Mall, by offering a catalogue where 90% of the products are made outside of China. Consumers have easy access to delivery tracking services across its entry into China all the way to its point of sale. This instils a sense of confidence from consumers and allows the market within China to have easy access to global products.
From a brand’s point of the view, the service grants a stable and sophisticated platform, Aomaijia offers supply chain financing and management, technical services and the tailoring and improvement of customer relationship management solutions, such as the tracking mentioned earlier. Brands will also have a much stronger hand in the presentation of their products and cultivation of their brand identity under the e-commerce platform.
"The Aomaijia platform was created to give suppliers, like those in Australia, control of their branding in China but also control over distribution, sales volumes and ultimately their profits," said Aomaijia CEO Ms Liu.
Seo JungJin: Who is EY’s World Entrepreneur of 2021?
Seo JungJin, founder of biopharma firm Celltrion, which most recently developed an antibody treatment for COVID-19, has been named the EY World Entrepreneur of the Year 2021, becoming the first South Korean in the award’s 21-year history.
Regarded as one of the world’s most prestigious business awards program for entrepreneurs, the EY Entrepreneur of the Year celebrates visionary and innovative leaders from across 60 countries who are transforming the world and fostering growth.
JungJin, who is now honoroary chairman of Celltrion Group, was up against a worthy cast of entrepreneurial competitors, taking the crown from among 45 award winners across 38 countries and territories.
Speaking during the virtual event, JungJin described his own interpretation of entrepreneurship as something that brings together “a group of people toward a common vision, embracing challenges as opportunities and committing oneself to contribute to the greater good”.
Why was JungJin crowned King Entrepreneur?
A South Korean native and now 63 years of age, JungJin founded biopharmaceutical firm Celltrion in 2003. In the nearly two decades since its founding, Celltrion has lived up to its goal of advancing health and welfare for all by developing ground-breaking drugs to treat autoimmune disease, various forms of cancer and, most recently, COVID-19.
The company, which JungJin started with just US$45,000 and five of his colleagues, has since growth to more than 2,1000 employees with sales permits in more than 90 countries and revenues exceeding US$1.69bn.
According to the panel, JungJin’s story is a shining example of the power of an unstoppable entrepreneur to change the world with the pandel moved by both his incredible story and his purpose-driven leadership, innovative mindset and entrepreneurial spirit.
Described by the chair of the EY judging panel Rosaleen Blair as “representing everything an unstoppable should be” from taking on the world’s biggest health care challenges to consistently creating long-term value for his company, JungJin’s story is one of incredible tenacity and perseverance that the judging panel felt most represented the entrepreneurial spirit.
“He’s taken breathtaking risks, both personal and professional, to found Celltrion and grow it into one of the world’s leading biopharmaceutical companies,” says Stasia Mitchell, EY Global Entrepreneurship Leader. “His passion for creating affordable, life-saving health care and flair for tackling global problems has led to many treatments that have helped millions of people worldwide and was especially evident this past year through the creation of a COVID-19 antibody treatment.”
How did JungJin get there?
JungJin's entrepreneurial journey started at an early age when he worked as a taxi driver to get himself through Konkuk University in Seoul, South Korea. After studying industrial engineering, he rose through the ranks of Daewoo Motor Co. before losing his job amid the carmaker’s financial troubles following the 1997 Asian economic crisis.
Following this, JungJin started collaborating with colleagues to explore business opportunities in different industries, though none delivered lasting success. The turning point came after he attended a talk hosted by renowned scholars, which inspired him to focus on the biopharmaceutical sector.
And so he founded Celltrion with just US$45,000 of his savings. The launch of Remsima, credited with being the world's first antibody biosimilar, quickly moved Celltrion up the ranks of the country's fairly underdeveloped pharmaceutical sector. Celltrion followed this success with the launch of drugs for breast cancer and lymphoma that today are being used worldwide.
With ambitions to be the world’s first in different areas, Celltrion has pioneered numerous uncharted areas to great success over the past two decades, most recently responding to the global pandemic by successfully developing an antibody treatment for COVID-19 and working to ensure a timely supply of the safe and effective treatment.
“When I first started, my vision was to help patients gain access to safe, effective and affordable medicines and thereby enhance the quality of people’s lives,” explains JungJin. “The success of Celltrion has enabled me to expand on this while finding new ways to fuel my entrepreneurial drive.”