Jacqueline Lam, founder of Mihaibao, shares her secrets for selling products in a different culture.
Created to help Europeans sell luxury goods in China, Mihaibao targets products favoured by the Chinese and features a website design that feels familiar. The start-up has raised €1.4 million from international investors.
TECHNOLOGIST Why is it difficult for the Chinese to buy European products ?
JACQUELINE LAM First, not all websites are translated into Chinese. Sometimes they don’t even work or are very slow. Second, Chinese e-consumers can’t pay in yuan and have to pay extra tax.
TECHNOLOGIST What problems do Europeans face when doing business with China?
JACQUELINE LAM European companies have the most trouble with import duties. Some of them don’t understand how the country’s postal service works and simply can’t send their products.
TECHNOLOGIST How does Mihaibao facilitate the process?
JACQUELINE LAM Mihaibao has created a website that is perfectly adapted to Chinese consumers. We started by selling handbags and now sell a range of fashion items. We don’t have a proper inventory. When a customer buys a product on our website, we just go get it from the supplier. Our system transparently calculates the cost, shipping fees and exchange rate and takes care of delivery.
By Clément Bürge