In the 80s of the last century, China's grain and oil market was still under the system of planned economy, and if the people wanted to eat oil, they had to carry glass or plastic empty bottles to the grain store to fill a pound of soybean oil, and they also had to wait in line, and sometimes they would encounter a situation of running out of stock.
At that time, the oil varieties were also very single, mainly soybean oil, peanut oil, rapeseed oil, etc., and the quality was uneven, and some oils would have peculiar smells or sediments, which affected the taste and health of eating.
In this context, a new grain and oil brand was born, which is Arowana. The emergence of Arowana has brought a breath of fresh air to China's grain and oil market, and it has adopted the form of small packaging, which is convenient for consumers to buy and store, and also ensures the freshness and hygiene of the oil.
It is also rich in oil varieties, including corn oil, soybean oil, sunflower oil, peanut oil, tea oil, olive oil, etc., to meet the needs and preferences of different consumers. Its oil quality is also very high, it has undergone strict testing and certification, meets national standards and norms, and has also won the trust and praise of consumers.
Rank among the grain and oil leaders
The founder of Arowana Group is called Guo Henian, and he is also the first person to have insight into the blue ocean of China's grain and oil market. Born in 1955, Kwok He-nian is a Malaysian-Chinese whose father was a grain and oil merchant and learned Xi the grain and oil business from his father since he was a child.
In 1976, Guo Henian came to China and began his entrepreneurial journey. It has successively operated grain and oil trade in Guangdong, Fujian, Shanghai and other places, and has accumulated a certain amount of capital and experience.
In 1986, his nephew Kwok Kong Feng registered the trademark "Arowana" in Malaysia and started selling Arowana oil in small packages. He found that China's grain and oil market is still very backward, there is no brand awareness, there is no professional sales channels, and consumers' demand for oil and quality requirements are constantly improving, which brings him huge business opportunities. It was decided to introduce Arowana oil to China to create a high-end grain and oil brand to meet the needs of Chinese consumers.
As soon as Arowana oil was launched, it was welcomed by the market, and the sales volume continued to rise, and the brand awareness also continued to increase. Guo Henian has also continuously expanded the scale of production, established its own factories and bases, and introduced advanced equipment and technology to ensure the quality and stability of the oil.
Arowana oil has developed from a small package of oil products to a national grain and oil brand, ranking among the leading positions in China's grain and oil industry, and becoming one of the most profitable food companies in China. Arowana oil has also become the first choice of Chinese consumers, known as "healthy oil, good oil, good taste". The success of Arowana oil has made Guo Henian a legend in the grain and oil industry, and also made him a billionaire.
However, just when Arowana oil is in full bloom, some unknown secrets have gradually surfaced, bringing huge crises and challenges to Arowana oil. These secrets have made the image and trust of Arowana oil unprecedentedly attacked and questioned.
Arowana's reputation plummeted
As a high-end grain and oil brand, Arowana oil has always been characterized by high quality and high price, and its oil price is much higher than other oil products on the market, even several times higher. The high price of Arowana oil makes many consumers feel that its oil quality is also very high and it is also worth buying. However, with the changes in the market and the intensification of competition, the high price of Arowana oil has also become a weakness of it, making it complained and disgusted by many consumers.
The first point is the price problem, the price of Arowana oil has always been a headache for consumers, and the price problem of Arowana is mainly due to the fact that when it released its performance report in 2020, it exposed its losses in the futures hedging business. Due to the increase in the price of raw materials such as soybeans, the company's hedge-based derivatives were marked to market at the end of the year. The news raised questions about the company's profitability and growth.
The unveiling of the domestic product of Arowana is mainly due to its investigation by the State Administration for Market Regulation (SAMR) in 2020. SAMR pointed out that Arowana used logos such as "domestic products", "Made in China" and "Chinese brand" on its official website, advertisements and product packaging, but in fact it did not really belong to the Chinese market.
The problem with Arowana GM oil ultimately led to a loss of trust and goodwill in the minds of consumers. Many consumers are reluctant to buy or use genetically modified foods, believing that genetically modified foods will cause harm or impact on human health. Some consumers even boycotted or abandoned the Arowana brand, believing that it betrayed the spirit of domestic products and national interests.
Seek to break the game and transform
As an old grain and oil brand with a history of more than 30 years, Arowana Oil has not given up, but actively seeks change and innovation, in order to reshape the brand image, regain consumer confidence, and return to the mainstream of the market.
On the one hand, Arowana Oil has increased its investment and management in product quality and safety, introduced more advanced equipment and technology, improved production efficiency and quality control, and ensured the freshness and hygiene of the oil.
On the other hand, Arowana Oil has increased its efforts to innovate and diversify its products, and has launched more types and specifications of oils that meet the needs and preferences of consumers, such as organic oils, low-temperature pressed oils, specialty oils, etc., to meet the health and food needs of different consumers.
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