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Traditional Chinese Medicine Brand Eyes 100 Overseas Stores By 2015
Jul 23, 2012
Traditional Chinese medicine brand Tongrentang plans to further expand its investment in Japan, Europe, America, and Middle East in the next few years, and it aims to increase the number of its overseas outlets to 100 by 2015.
Founded in 1669, Tongrentang had been designated to provide medicines for the pharmacy of the imperial palace of the Qing Dynasty for 188 years. In 1993, it opened the first overseas pharmacy in Hong Kong. Since then, the company has developed 18 owned and jointly-owned branches as well as 69 pharmacies in 16 countries and regions. In addition, it registered 149 trademarks in 69 countries and regions worldwide.
According to Chen Kaixi, Tongrentang's reseller in Malaysia, Tongrentang has become a well-known pharmaceutical brand in Malaysia and it is well accepted by local people due to its populist positioning. For the next step, Chen plans to cooperate with Tongrentang to establish a health care center in Malaysia.
Head of Japan's Nissui said that they hope to combine Tongrentang's traditional Chinese medicine technologies with Nissui's experience to promote their cosmetics business in Japan.
To reduce its overseas expansion pressure, Tongrentang has signed a strategic cooperation agreement with the headquarters of Confucius Institute to establish a new platform for cultural expansion in foreign countries. Meanwhile, Tongrentang is inviting apprentices from all over the world to promote its local talent strategy and support its overseas business development.