On January 14, Guangzhou Liyi Technological Innovation Investment Co., Ltd. (hereinafter referred to as “Liyi Technology”) subordinate to Liby Group and Guangzhou Hengfeng E-commerce Co., Ltd. (hereinafter referred to as “Hengfeng E-commerce”) controlled by HHuo Qiwen of Henry Fok Group signed a strategic cooperation memorandum in Guangzhou in respect of building a joint incubation platform for new brands of big daily chemical and FMCG fields in order to complement each other's advantages, share brand growth dividends and inject new business growth points to two enterprises.
President of Liyi Technology Chen Mingzhen (right) and president of Hengfeng E-commerce Huo Qiwen (left) signed a strategic cooperation memorandum
As a domestic leading daily chemical enterprise, Liby Group initiated “1+2 strategy” in the end of 2018 and built a supply chain and channel platform led by multi-brand matrix and brand to transform from a traditional manufacturing enterprise and a brand owner to an open platform-based brand service enterprise in the aspect of business model and realize digital management and sustainable development of enterprise. Liyi Technology shouldered the mission to explore new racing tracks and build new brands for Liby Group, accelerated breaking through limitations of a single industry through incubation platform and capital means and facilitated landing of new channels, new products and new brands and capitalization breakthrough. Presently, Liyi Technology has succeeds in incubating 6 new brands in hair care, oral care and tableware detergent fields.
Since its establishment, Hengfeng E-commerce has developed into a cross-border social e-commerce platform to select local reputable products in accordance with the concept “Link a global beautiful life” through customizing consumer need-oriented selection criteria jointly with “specialized selectors” by virtue of global supply chain and international warehouse logistics cooperation resources and going deep into all parts of the world. Now Hengfeng E-commerce cooperates with more than 200 international brands of more than 10 countries such as Australia, Japan, Korea and Singapore in selecting more than 1000 popular products of skin care, cosmetics, personal care, affordable luxuries, maternal and infant industry and household industry.
The strategic cooperation will share recourses, complement each other's advantages, build a joint incubation platform for new brands, identify and segment trends and needs more accurately, build high-growth new brands, facilitate with both parties’ rapid growth and share bran dividends and development opportunities based on global 200+ excellent brand resource library, global supply chain resources and online KOL resources of Hengfeng E-commerce as well as strong market and consumer research ability, brand endorsement and offline channel management experience of Liyi Technology.