Chinese consumer brands are using Singapore as a strategic launchpad for global expansion, leveraging its blend of Asian and Western cultures.
While Chinese companies have long toyed with global ambitions, their latest strategy involves a concerted effort to reach Southeast Asia via Singapore."Singapore is a place we call it like where east meets west, right? So for Chinese companies, if they want to go overseas, I think Singapore is a nice middle ground," said Xiaofeng Wang, principal analyst at global market research company Forrester.
The new generation of Chinese brands are different — they're not trying to hide their"China identity," said Forrester's Wang. "In the next 5 years, Chagee will be focusing its expansion efforts across eight countries, namely Singapore, Malaysia, Thailand, Indonesia, Vietnam, Philippines, Japan and Korea, with the SEA nations being the priority," Lu told CNBC.
But there are also those who find it challenging to sell their wares because of cultural underpinnings, despite Singapore's mix of Chinese, English and Southeast Asian cultures