WITH all this talk about new industries eclipsing old ones, and compounded by the onset of COVID-19, there is a lot of uncertainty about the business landscape.
Young and old alike are wondering about which industries they should venture into, or what they should study. Should they get into coding, data analytics, bio-tech research…. It’s a list of new industries and new kinds of jobs that are coming up faster than they can be filled.
But while all the attention is trained on the hype being generated by the newbies with desires to be unicorns, there is a bedrock of long-established local brands that continue to do steady business, growing their reach and connecting with new audiences by remaining relevant.
Some of them are household names that continue to be used by successive generations.
Eu Yan Sang has been serving customers in the traditional Chinese medicine (TCM) field since 1879. Richard Eu is the fourth-generation Chairman of the brand, having taken it public and then going private as it moved into the wellness arena, while expanding its reach.
It is one of the largest TCM groups in Asia, as Richard grew it from 6 to 250 retail stores and clinics.
Fong Loo Fern took over CYC Company when it was in the doldrums. Faced with intense competition, the tailoring brand looked like it might be stitched up. But Loo Fern found new avenues to leverage, by making uniforms, and now, masks.
Loo Fern used to work at the US Department of Commerce in the US Embassy as a Commercial Specialist, where her job was to link US Companies with Singapore businesses and to promote US brands in Singapore.
Edy Tjugito found himself in the driver’s seat of the business when his father passed away in 1970. He spent the next 5 decades growing Borden Company from a business with 2 products to one exporting 20 products to more than 30 countries.
As a non-executive director, Edy lets the professionals run the business, but offers his experience and insight. He is pushing to involve more technology in the business, and keeps up to date in that regard.
How will these brands fare as the digital wave washes over the world, and COVID-19 leaves a lasting mark?
What are they thinking of when it comes to the future of their brands?
Catch the WED WEB CHAT — Heritage Brands Going Strong! on 11 Nov 2020, from 12:45pm — 1:30pm.
Register for this webinar using this link: https://zurl.co/sgK7
You can watch previous WED WEB CHAT discussions on www.storm-asia.com.