China’s Leading Fruit E-commerce Figure Speaks at MBS China Centre
In the evening of 26th Nov, Mr. Loren Zhao, co-founder of Fruitday.com was invited to MBS China Centre and delivered a keynote speech to share his entrepreneurship story and the development of the company’s business model to over 80 audience. MBS alumni, current Global MBA students as well as potential students were attracted to the event. The experience of how Fruitday kick-started and the challenges Loren and his business partners met during its nascent stage greatly inspired some current Global MBA students and alumni who are transforming their career from professional managers to entrepreneurs. He advised the new entrepreneurs to identify the right business model for their own business to match today’s fast-growing trend in the e-commerce market.
In only seven-years’ time, China’s star online retailer Fruitday has become a leading figure in e-commerce, which is widely regarded as a legendary success. The recent investment from JingDong with $70 million investment in the firm also raised heated discussion in the business world. What are the key factors of Fruitday’s strong growth?
During the keynote speech, Loren also took Fruitday’s growth path to illustrate the exploding e-commerce landscape of China and further provided a comprehensive analysis of current global trends of online retailing and its China applications. He pointed out that the e-commerce market has become fiercely competitive in China, with a growing number of players rushing to establish a presence in every sector. It is essential for business leaders to establish a consistent branding message in the market to win customers' trust. More importantly, management team should build up key differentiators in the fierce competition. Take Fruitday for example, its own first-class logistics and procurement system are the core value of the company. The mature operating experience and innovative marketing strategy guarantee large consumer base and high customer loyalty, which Loren regarded as the solid foundation for the firm to further expand in the future.
After Loren’s speech, Global MBA graduate Sunday Huang joined to share her own business - Oswell Dental, Yueyawang.com. Then energetic and thought-provoking interactions between the speaker and audience were carried out. Loren further discussed in-depth topics raised by alumni and students from different professional backgrounds including supply chain, financing, marketing, IT management and etc. This provided a more comprehensive outlook for all audience of how Fruitday set up its unique business model.
A lot of Global MBA candidates were deeply impressed by the event as MBS China Centre is offering diversified and inspiring extra-curriculum activities for students to expand networking and tap into real business world.