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In 1987, Qinghou Zong and two partners borrowed 140,000 RMB and started their entrepreneurial venture in Hangzhou: Wahaha. The first year was a hard period of exploration and learning, and Zong was selling ice cream, soft drinks and exercise books from a tricycle. It was not until the second year that Wahaha made remarkable profits, by producing nutritional drinks. Zong chose the name ‘Wahaha’ for his company; the literal translation is ‘laughing child’, which means a happy child. Wahaha initially aimed to tap a niche in the market for a ‘children’s liquid nutrient’. With Chinese single-child families, and the parents’ full concern for their single child, Wahaha was a resounding success from the beginning. Nowadays its product covers eight categories and has more than 150 products, including dairy drinks, bottled water, carbonated soft drinks, fruit juice, tea drinks, health foods and canned foods.
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- Chinese Companies Need Strong and Open-minded Leaders
Anne S. Tsui
- Palgrave Macmillan UK
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