Chinese consumer brands are using Singapore as a strategic launchpad for global expansion, leveraging its blend of Asian and Western cultures. Companies like Pop Mart and Chagee are focusing on Singapore for market testing and as their regional base, aiming to penetrate Southeast Asia. Despite cultural and strategic challenges, Chinese brands are embracing their unique identities and adapting to different markets with tailored strategies, says Forrester analyst Xiaofeng Wang. Hangzhou-based toy company Dodo Sugar, pictured here at the Pop Toy Show in Singapore on Aug. 23, 2024, is expanding to Thailand and other parts of Southeast Asia. CNBC | Sonia Heng
Chinese consumer brands are using Singapore as a cultural testbed in their quest to expand globally, thanks to the city-state’s unique blend of Asian and Western cultures.
In August alone, Chinese tea brand Chagee opened three stores in Singapore. Pop Mart, a Beijing-based retailer of collectible toys, wrapped up its second annual toy show on the island late last month with over 50 artists.
While Chinese companies have long toyed with global ambitions, their latest strategy involves a concerted effort to reach Southeast Asia via Singapore.
“Singapore is a place we call it like where east meets west, right? So for Chinese companies, if they want to go overseas, I think Singapore is a nice middle ground,” said Xiaofeng Wang, principal analyst at global market research company Forrester.
Pop Mart’s executives are considering establishing an international headquarters in Singapore, Jeremy Lee, Go-to-Market Director of Southeast Asia at Pop Mart International, told CNBC on the sidelines of the Pop Toy show in late August.
“If there is anything they [Pop Mart’s executives] want to launch in
