Most importantly, his business is no multinational "chips to ships" Empire. Instead, Kim focused on a single category-plastic and glass containers and other types of crockery and household goods. But he has factories in China and Viet Nam, as also South Korea, and sell its products all over the world. You will find in London's Harrods department store and trend-setting Shanghai, where lock & lock was named the most popular brand from 2006 to 2010.
Beginning last year lock & lock went to the public, and that's when the 58-year-old Kim was very rich. Share of the company rose 142% in the last year, and its market capitalization is now $1.7 billion. One company with sales of the Yellow Sea, from which 38% was his total Korean investment Darling as a China play. Kim owns 54% of the shares, and helped him part 40 richest South Korea last year in no. 26 and rise, no. 22 this year with a net worth of 965 million dollar-US$ 570 million a year ago.
Kim began as a trader in a traditional market and his company founded in 1978. But he followed his success in 2000, after he took the ubiquitous Tupperware plastic food containers and--he sagt-- it improving it more airtight. He sold his container and fields on home shopping TV channels in discount stores and a flagship store in a fashionable shopping area of Shanghai. He opened a factory in Korea as he already one in China had, catering for Chinese customers who thought overseas products better than those produced in China. A 90-strong research and development group comes with almost 2 new products per day, 700 in a year. Cross-cultural flexibility is promoted: a sealed box that stores rice in Korea is popular for pet food in the UK; a container that keeps fresh in Mexico nachos holds fashion accessories in Hong Kong.
It is all paid. Lock & lock controls 63% of the Korean market for airtight plastic containers now long ago surpassed Tupperware. Make 30% of the business, with another 30% consisting of plastic boxes for offices and apartments. Last year, 40% its revenue grew to 197.5 million $, its net profit up 43% 58.9 million $.
With sales booming in China-where it before the No. 1 spot in the plastic container market-Kim has moved in other emerging markets. Now he is focused on Viet Nam, Indonesia and Thailand, then he is called destination Cambodia, Laos, Brazil, Chile and Colombia. And he plans a second list in Hong Kong, he says, is a useful bridgehead for China mergers and took over. He is cagey about timing, but believe that his brand still has reached its peak.
At home, the local culture defies Kim with its emphasis on education. He is typical of many business owners, for action and impatient with anything from books or teachers learn wired. "Why do you need graduated something good?" he asks. "The knowledge set a direction and Entscheidungen--you can not learn this from books;" "You need a sense of balance."
Kim grew up in the southeastern city of Daegu in a family, the rückständigsten-- was up to his father went bankrupt. Found that he left a self-made man, start high school at 16 do business in Korea's busy traditional markets: "I broke before finals;" I said, 'I need to focus, to make money!' "From the mid-1970s he was import and distribute some 200 overseas commercial arena kitchenware and houseware brands in Korean most competitive: Seoul the sprawling South Gate market."
But for a friend, the also tableware products, for a European brand, import of was it had not good. The brand decided to no longer needed in Korea himself and his friend. After a decade the brand building was Kim's friend paid. "I wanted to happen to me", he recalls.
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