In today's era of globalization, it is no longer uncommon for us to take for granted products from other countries. However, it may come as a surprise that there are products that appear to be produced by domestic companies, but are actually from other countries.
In our daily life, some products are considered representative of domestic enterprises, but in fact they come from other countries. The most incredible thing is that one of the products is Arowana blended oil that every household probably uses!
Edible oil is a necessity in the daily life of families, and Arowana blended oil has a market share of 45% in China, making it a household name. However, few people know that Arowana is actually a "foreign fish" from Malaysia.
Since Arowana blends first entered the Chinese market in 1992, it has achieved unprecedented success and is thoroughly integrated into the daily life of every Chinese. Arowana is even included in China's national brand plan and achieved sales of 257.5 billion yuan last year.
Arowana is founded by Malaysia's richest man, Kwok Hok Nian, who started his own business in his 20s. His father, a sugar and grain trader, provided him with the capital to start up. Guo returned to Malaysia after further studies in the UK, founded the country's first sugar factory, and at the age of 30 controlled 5% of the world's sugar business. He also founded businesses in various sectors including Shangri-La Hotels and Resorts, becoming one of Malaysia's most recognisable businessmen.
Guo Henian first came to China in the late 80s of the 20th century, and he was inspired by the phenomenon of Chinese using empty bottles to exchange for cooking oil at grain stores. He decided to set up a edible oil factory in the Shenzhen Special Economic Zone to produce small packages of edible oil, and named it "Arowana".
Arowana's success is also due to the cooperation of COFCO, a Chinese state-owned enterprise. COFCO wanted to tap into the domestic oil and fat market with the experience of foreign companies, and chose Guo Henian, a businessman of Chinese descent, as a partner. Although COFCO helped Arowana enter the Chinese market, the Guo family still retains de facto control of the Arowana business.
The marketing of Arowana is also very positive, and advertisements can be seen everywhere, even frequently appearing on CCTV. Arowana has also sponsored sports such as the Beijing Olympics and the Chinese women's volleyball team to establish its own image. These actions have allowed Arowana to establish an image of a domestic brand in the hearts of the Chinese people, even if it is actually a foreign enterprise.
However, sales of Arowana have recently declined. It has repeatedly exposed the problem of counterfeit products, such as the large-scale counterfeit Arowana oil incident exposed in Wenzhou in 2015. In addition, Arowana was involved in GMO issues due to its blended oil properties, leading to its blacklist by customs. These incidents took a toll on Arowana's reputation, leading to a decline in sales.
Despite Arowana's reputation in China, Chinese people are increasingly concerned about food health and safety. Food safety is a long-term issue, and only by ensuring that consumers eat and use with peace of mind can we develop in the market for a long time. Whether Arowana is a domestic or foreign business, food safety and health are always paramount.