Despite the pandemic and the lockdown, Bielefeld-based family company Dr. Wolff sees great potential in the Asian market and is consistently expanding its commitment there. Its participation in the 17th Asia-Pacific Conference of German Business from 13 to 14 November underscores this intention.
“It is finally possible again to be at the Asia-Pacific Conference this year and I sense the great mutual interest in further cooperation between the entire ASEAN region and Germany. It became clear that deglobalization is not an option for anyone, and that the entire world has an interest in good cooperation between the two great powers, America and China: Diversification remains important, as does the Chinese market. This is also proven by our success on Singles Day, which is not only held in China, but also in the entire ASEAN region”, says Eduard R. Dörrenberg, managing partner of Dr. Wolff Group.
This year, for the sixth time, the shopping event plays a weighty role in the Asian business of the Bielefeld-based shampoo manufacturer. The first figures on the Chinese platform Tmall from the previous weekend indicate a year-on-year increase in sales of around 40 percent in China alone (approx. 500,000.00 euros in daily sales). Other Chinese platforms are currently still being evaluated. Dr. Wolff significantly outperformed in the market, as the overall development of the Chinese market was less dynamic. “We keep believing in the Chinese market, we will continue to invest, and are convinced that companies need to be there. Also, because digital trends are emerging and talent is growing there,” said Dörrenberg..
Singles Day is increasingly gaining importance in Southeast Asia. Dr. Wolff participates the online shopping festival not only in China, but also in Singapore, Malaysia, Thailand, the Philippines and, for the first time, in Vietnam. The team in the city-state of Singapore shipped over 1,000 parcels via its own fulfillment structure on Friday alone. The team generated around 70,000.00 euros in daily sales in Southeast Asia.
As an entrepreneur with several locations in Asia, Dörrenberg is convinced that further growth and globalization are necessary and significant in order to be able to counter crises and risks in the future. “Overall, we see more opportunities than risks and will continue on this path,” says Dörrenberg, who himself lived in Singapore for four years. The first branch office in Asia was also established there in 2013, which turned out to be the right decision. As the conference clearly showed, Singapore is booming and increasingly becoming a hub for Asia, in line with the motto of the designated new Singaporean prime minister, who said at the conference “Good things can start in Singapore”.
Therefore, Dr. Wolff continues to look optimistically to the future and is already working on further steps in North and Southeast Asia.