Posts tagged as: China

Chinese consumers want authenticity

The Economist reports that Chinese consumers are falling out of love with fakes (The Economist, 14th January 2012). Counterfeit goods are now looked down upon as more and more Chinese consumers aspire to flaunt a brand name. McKinsey found that the number of consumers who said they were willing to buy fake jewellery fell from 31% in 2008 to 12% in 2011. In other words, the authenticity of real brands, with real heritage is becoming increasingly valued.

Samsung’s success hard to copy

Samsung began as a small noodle business in 1938 and has since swelled to a network of 83 companies accounting for 13% of South Korea’s exports, becoming one of the countries most influential chaebols. Other companies, particularly those from China, are naturally keen to know the secrets of their success. However, the model will be hard to emulate; “for all its modern technology, Samsung’s story is an old one writ new – the well-run family firm, with a strong culture and a focus on the long term” (The Economist, 1st October 2011). In other words, its corporate heritage is what makes Samsung unique.

 

Heritage is not just about history. Essentially, it is about staying true to your values. The heritage of a brand needs to be cared for as much as the heritage of a nation; in some ways more so. But heritage is one of a company's greatest assets and Brand Heritage News intends to provide a forum for discussing these trends. We do not intend to analyse branding per se, nor are we particularly focused on heritage brands (i.e. those brands which use heritage as part of their USP) but rather the evidence of any company's (young or old) attempt to preserve and communicate its brand's heritage.