The success of last month’s inaugural China International Consumer Products Expo (Hainan Expo) and the increasing importance of Hainan’s offshore duty free business was underlined by a high-power video released at the opening conference that preceded the event.
Leading CEOs from a host of companies including L’Oréal Group, Kering Group, Swarovski, Rémy Cointreau, DeBeers Forevermark, DFS Group, Johnson & Johnson, Alibaba, JD Retail Group, Richemont, Bacardi, Diageo, Shiseido and many more saluted the event in the video (below).
The united message from the CEOs underscored the drawing power of Hainan and the Expo, which welcomed 1,505 companies and 2,628 exhibitors from 70 different countries. The Expo attracted over 240,000 visitors and was covered by 160 different media outlets.
DFS Group Chairman and CEO Benjamin Vuchot said: “As we know, the Hainan Free Trade Port is a landmark initiative and a significant strategic decision that marks new heights in China’s opening. Our participation in the event showcases our world-leading expertise and partnerships.”
L’Oréal Group CEO Nicolas Hieronimus added, “China has never stopped opening its doors wider and wider to the outside world. This has given Chinese consumers ever greater access to high-quality and innovative brands, products and services.
“It’s a truly ground-breaking approach to unleashing the potential of the Chinese market, by tapping into Hainan’s position at the crossroads of China’s dynamic domestic and travel retail markets.”
Rémy Cointreau Group CEO Eric Vallet added, “The Hainan Expo will be an important milestone for China, Hainan and international businesses. Therefore, it was important for us to participate actively and bring our most prestigious brands and products to the Expo. We share more than a century of history in China with our brands.”
“The Hainan Expo is a great platform and opportunity for Swarovski to share our new vision, new collection and new brand experience with all our customers and potential partners,” said Swarovski CEO Robert Buchbauer.
“Diageo is one of the world’s leading international beverage and alcohol companies. We are proud to showcase our brands at this significant event and are deeply grateful to the organisation for inviting us to participate,” commented Diageo CEO Ivan Menezes. “We believe the premiumisation trend, where consumers will drink better not more, will endure. We are confident that our diverse portfolio will be able to cater to all kinds of consumers at the Expo.”
Bacardi CEO Mahesh Madhavan added, “We want to bring to life our premium portfolio of global and iconic brands to enable consumers to make moments matter. Digital adoption, especially among travellers, has accelerated and evolved. Bacardi and our customer China Duty Free Group have been at the forefront in building on this. We stand together with our partners to shape up a new era for travel retail in China.”
Shiseido China CEO Fujiawara Kentaro said: “Shiseido sees a new opportunity in Hainan. We will take advantage of the Hainan Expo and the Hainan’s unique advantage as a Free Trade port to showcase Shiseido’s Skin Beauty Innovations.”
Nestlé GCR Chairman and CEO Rashid Qureshi said, “Nestlé has witnessed the opening up of this great country since we entered China in the 1980s. We have embodied the increasingly close economic ties between china and Switzerland, the only guest country of honour at the Expo.”
“Due to the epidemic, global consumer demand is rapidly shifting to China,” said Alibaba CEO and Chairman of the Management Board Zhang Yong. “This brings a historic opportunity for the upgrading and expansion of the Chinese consumer market. New supply also spurs new consumption.”
JD Retail Group CEO Lei Xu added, “In this context, holding the first Hainan Expo can leverage the advantages of the Hainan Free Trade Port to bring diversity to domestic market supply and better meet people’s high-quality consumer demands. It can also promote China to the wider world and pursue a dual-cycle development pattern relying on domestic and international economic cycles.”
Footnote: Every fortnight The Moodie Davitt Report publishes Hainan Curated, in association with Foreo, a selection of all recent stories from the offshore duty free sector in Hainan province.
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