2024 Recap - Interviewing 9 of the best Asia-based entrepreneurs

Re-imagine your Asia dream from the ground

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Hello ,

In 2024, I interviewed 9 of the best Asia-based young entrepreneurs in the FMCG industry. I heard about their life stories, business and insights. Their businesses are based in China, Vietnam, Japan, South Korea, and Taiwan.

In this newsletter, I chose a selection of their quotes:

  • Your Asia Journey

  • Market Vibe

  • Top 3 Pain Points

  • Busting Industry Myth

๐Ÿ‡ป๐Ÿ‡ณ Tom Daniels, Co-Founder, OneLink Holdings

๐Ÿ‡จ๐Ÿ‡ณ Matthew Heller, Founder, Xpand Asia

๐Ÿ‡น๐Ÿ‡ผ Nick Wang, Brand Ambassador, Prestige House

๐Ÿ‡จ๐Ÿ‡ณ Sam Sheehan, Co-Founder, OneLink Holdings

๐Ÿ‡ฏ๐Ÿ‡ต Kenya Oba, Seafood Restaurantuer

๐Ÿ‡จ๐Ÿ‡ณ Ashwin Pillay, Commercial Director, Redfern Digital

๐Ÿ‡ฏ๐Ÿ‡ต Janis Arbidans, Co-Founder, Avenatur Oat Milk

๐Ÿ‡ป๐Ÿ‡ณ Benji Lamb, Founder, Asia Circles

๐Ÿ‡ฐ๐Ÿ‡ท Jieseon Kim, Managing Director, Pronswer Group

๐Ÿ‡จ๐Ÿ‡ณ CHINA ๐Ÿ‡จ๐Ÿ‡ณ

๐Ÿ‡ป๐Ÿ‡ณ VIETNAM ๐Ÿ‡ป๐Ÿ‡ณ

๐Ÿ‡ฏ๐Ÿ‡ต JAPAN ๐Ÿ‡ฏ๐Ÿ‡ต

๐Ÿ‡ฐ๐Ÿ‡ท SOUTH KOREA ๐Ÿ‡ฐ๐Ÿ‡ท

๐Ÿ‡น๐Ÿ‡ผ TAIWAN ๐Ÿ‡น๐Ÿ‡ผ

As we wind down 2024, I would like to thank you all for tuning in. Without your interest and curiosity, I could not have done this. I sincerely hope that you continue your own Asia journey, tell others about the experience and encourage others to join you on the journey.

Hope you had a fantastic Christmas. Hereโ€™s to a Happy New Year.

Yours Truly,
Peter Park / ๋ฐ•๊ทœํ˜•

Your Asia Journey

My heart was always in growing my own brand. We felt that there is a big gap in Asia, and consumers do not have enough good quality and wide-ranging oat-based products.

Janis Arbidans ๐Ÿ‡ฏ๐Ÿ‡ต

*

I realised early on from trying different opportunities that I like sales. This gave me confidence to take on more calculated risks.

Jieseon Kim ๐Ÿ‡ฐ๐Ÿ‡ท

**

I identified a massive need in the Chinese market for quality partnerships in manufacturing that had an โ€˜on the groundโ€™ approach.

Sam Sheehan ๐Ÿ‡จ๐Ÿ‡ณ

**

I learned from a persistent salesman from fish markets about a fundamental human need, where we want to be seen and heard.

Kenya Oba ๐Ÿ‡ฏ๐Ÿ‡ต

***

I asked if I could be an asset in solving communication issues with foreign brands. He became my first customer in China and until this day.

Matthew Heller ๐Ÿ‡จ๐Ÿ‡ณ

*

I initially wanted to start a premium New Zealand pet food brand. Now I lead our Commercial Team across Asia, supporting both in-market and new-to-market brands.

Ashwin Pillay ๐Ÿ‡จ๐Ÿ‡ณ

**

After 7 years in the sourcing & custom manufacturing industry and from the background research I had done, I made the move to Danang, Vietnam.

Tom Daniels ๐Ÿ‡ป๐Ÿ‡ณ

***

I spent a lot of time reflecting, moving from doubt and lack of confidence to eventually changing my mindset and affirming my decisions and abilities.

Nick Wang ๐Ÿ‡น๐Ÿ‡ผ

*

I worked for free for this small digital agency in Shanghai that ended up growing to 125 employees in 3 years. China started to โ€˜cool downโ€™ in 2019/20 and I started looking for the next land of growth and opportunities.

Benji Lamb ๐Ÿ‡ป๐Ÿ‡ณ

Market Vibe

The Vietnamese people forged their own identity from the pain past with a rich culture.

Benji Lamb ๐Ÿ‡ป๐Ÿ‡ณ

*

The Korean culture (K-Culture, Hallyu ํ•œ๋ฅ˜) is a thing now. There is something in there to explore.

Jieseon Kim ๐Ÿ‡ฐ๐Ÿ‡ท

**

China is in transition, motivated to maintain its competitiveness and sustainability in the face of ever-changing global perceptions of the country.

Sam Sheehan ๐Ÿ‡จ๐Ÿ‡ณ

***

Chinaโ€™s annual GDP growth halved from the historical average of 9.5% between 1978 and 2019 to 4.7% as of June, 2024.

Matthew Heller ๐Ÿ‡จ๐Ÿ‡ณ

*

In Japan, there are two types of people. Those who keep working with little regard for change or improvement, and those who have no choice but to take things into their own hands.

Kenya Oba ๐Ÿ‡ฏ๐Ÿ‡ต

*

The China market is non-stop and the atmosphere of Shanghai is addictive.

Ashwin Pillay ๐Ÿ‡จ๐Ÿ‡ณ

**

Once Japanese consumers like your product, they will be loyal.

Janis Arbidans ๐Ÿ‡ฏ๐Ÿ‡ต

***

Many people believe that successful people or individuals with sophisticated tastes drink single malt whisky.

Nick Wang ๐Ÿ‡น๐Ÿ‡ผ

*

Leveraging its proximity to China and learning from Chinaโ€™s years of perfecting manufacturing processes and supply chains, Vietnam has the potential to grow into a viable option for companies wanting to manufacture in Asia.

Tom Daniels ๐Ÿ‡ป๐Ÿ‡ณ

Top 3 Pain Points

Our interviews revealed three persistent challenges in 2024.

First, market entry continues to demand careful navigation, with entrepreneurs emphasising the critical need for strong local partnerships to manage regulatory complexities and varying consumer preferences across markets.

Second, supply chain resilience remains crucial, with businesses still adapting to post-COVID logistics disruptions and longer production lead times, particularly in emerging markets like Vietnam.

Third, competitive pressures have intensified significantly, with entrepreneurs facing margin compression from both traditional and digital channels. However, opportunities exist through quality differentiation and innovation, particularly in markets like Taiwan and Vietnam where consumer sophistication is rapidly evolving.

Success stories highlight the importance of maintaining product quality while adapting to local market conditions and building strong partner relationships.

๐Ÿ‘ป๐Ÿšซ๐Ÿ’ฅ Busting Industry Myth

This canโ€™t be done

*

I want the cheapest and the best

**

Getting the cheapest product is the most important objective.

***

Vietnam is still a small player in Southeast Asia.

*

Sending your product to China will inevitably lead to it being copied.

**

What works in other markets will automatically work in China.

***

Single malt whisky is always more premium than blended whisky.

*

Older whisky is always better.

**

Real premium Japanese sakes are available outside Japan.

***

Once Chinese customers love your products, you are set for success in China.

*

Oat-based products are not tasty and enjoyable.

**

Vietnam is a rural backwater country.

***

Few local Vietnamese brands are successful.

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