I would be willing to bet you have never heard of Goodbaby. However, they control 70% of the market carts in China. They are producing two of every five walkers sold in the U.S. and they have a 15% market share in Europe, primarily in the category of luxury models. There is a very good chance that you Goodbaby product in your home and do not even know. Goodbaby makes 10 000 wheelchairs day, most of them abroad for the brand. In all they make 15 different labels.
Zhenghuan song is intended to become the world's number one maker of infant and child products. But when he designed a rocking chair in 1989, one of his employees mistook him for a stroller. Song added wheels and the rest as they say is history. Since May 2009, the company is still privately owned, but its IPO was on many investors' radar.
Goodbaby opened its flagship store in Shanghai 2006th Its target market is middle-class Chinese family. Ironically, not far off a competitor who caters to wealthy Chinese families are willing to spend big money on foreign products label. Goodbaby not only has a share in this trade too, but many of the products for sale are located right in China by Goodbaby.
Zhenghuan Song number one challenge today is to label Goodbaby top seller in its own right. He faces the challenge of overcoming the global bias, which recognizes a made in part by unscrupulous Chinese company that produced shoddy and dangerous for babies. He knows it will take time, but he is confident that China will one day enjoy the same reputation that Japan is not producing quality goods.
song taken an interesting path for strollers mogul. He began his career as a math teacher at the end becomes a vice-principal. When China first began to experiment in capitalism, some schools are needed to create companies that fund. That song borrowed from his fellow teachers and opened a factory microwave oven, which was a big failure.
end, through former connections, got a factory job making carriage parts. The song soon saw that the profits will be higher for finished goods. Over the past 20 years, Goodbaby has an innovative design stroller. They feel their R & D is what sets the company apart from its competitors. That and the fact that they have made a combined rocking chair / stroller business.
Goodbaby produced a trolley under the brand names Cosco, Safety First and Eddie Bauer to name a few. Other non-stroller brands manufactured by Goodbaby as Quinny, Nike Kids and Tommee Tippee. One difference that sets them apart from other Chinese manufacturers of infant and child products Goodbaby welcomed foreign investors and take advice from your experience. It's helpful to understand the expectations of the world market.
In 2006, China focused private equity firm, Pacific Alliance Group, bought 67 percent stake in Goodbaby, caused what some call the first western style influence the purchase of Chinese companies. It was the company's equity, which is expected to be Goodbaby public. However, this did not happen. But instead, Pag has hired Morgan Stanley to sell their shares to other interested private equity firms.
This sale will have a very high profile, because traditionally, the Chinese government has not easily granted to foreign investment and private ownership of business culture in China is strong. What began as a factory is now more than ten specialty factories and they have their own industrial park employing over 16,000 people.
What's next? Goodbaby plans to grow its online presence as many young Chinese parents like to shop on the Internet. If history is any indication, expect to see much more Goodbaby in the years to come.
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