In recent two years, the Belt and Road initiative has expanded a huge market for Chinese companies. However, globalization can be a mix of opportunities, challenges and risks.
Entrepreneurs are born with innate sensitivity to trend. Jack Ma, Wang Jianlin, Dong Mingzhu and several other famous Chinese entrepreneurs have expressed their intention to go globalization. MUMUSO is also among the pioneers in business globalization. It has already opened franchise stores in southeast Asia, Middle East and Europe. Moreover, it has also conducted in-depth business investigations to find out the local conditions and customs and paid an attentive ear to and solicited suggestions for improvement from our consumers and partners(e.g. : What are the appeals of MUMUSO to you? Are our shopping environment comfortable? What interesting experience do you expect? What supports do you need? etc.). In the meantime, it has also created jobs, boosted local economy, and improved local people's livelihood.
It turns out that this forward-looking branding strategy is successful. According to feedbacks from foreign social media and consumers, the popularity and referrals of MUMUSO are on the rise. Judging from the data from our partners' stores, the repatronage rate of consumers is also going up. Mr. Xia Chunlei, CEO of MUMUSO, said to a reporter during an interview: "All our market surveys are to serve the global market. Eventually we will sort up the feedbacks from our consumers and partners and use them for our global marketing. For this purpose we will cooperate with world-class consultancy services to share data and develop applications’’.
The latest news about MUMUSO's globalization is that MUMUSO successfully took a foothold in Russia on June 29, 2017. This move indicates that MUMUSO has been marching into the mid- and high-end European market. The in-depth expansion of MUMUSO into Russia not only drives the diversification of local retail sector, but also offers local consumers a delightful, care-free, and fashionable shopping experience.
MUMUSO's ambition is more than that. As an in-fashion leisure brand that has global influence, MUMUSO will expand to more countries and regions in the future. The opening of the first MUMUSO flagship store in Russia marks a steady step of the brand's globalization effort.