In 1935, Heng Yuan Xiang invested in a factory to produce own wools to fight against the monopoly of imported goods. In 2017, the annual sales reached 5 billion yuan, with nearly 60% coming from online, up by 26%. To date, HYX Group has more than 100 affiliated factories, around 170 offline dealers, over 1,000 retail outlets, and more than 6,500 online shops.
CIW eBook “The digital transformation of China’slargest wool and textile enterprise” shares an overview of Hengyuanxiang’s digital transformation and how Tmall played a critical role.
Latest update: April 2019
Access Level: all CIW Premium subscribers, CIW Standard (annual billing) subscribers
Table of Content
- About Hengyuanxiang
- Start from scratch
- Global expansion with Tmall strategy
- The consumer-centered era