25 Feb 2004
Belting Ahead(HKTDC Fashion - Fabrics & Accessories, Vol 02,2004)
Vol 2, 2004
Yue Fung Thai Co
Belts in trendy styles form a core speciality at Yue Fung Thai Co, which produces a wide variety of fashion accessories for markets such as the US, Europe, Japan, Eastern Europe and the Middle East
Capitalising on a comeback in belt fashion in recent years, Yue Fung Thai Co achieved a satisfactory business result in 2003, according to Yim Yui Kai, manager at the OEM manufacturer of belts, logos and keychains.
"Seeing that the European and US economies are picking up, our customers there are replenishing their stocks quite urgently and so we expect a better year in 2004," Yim says.
To take advantage of the positive business environment, Yue Fung Thai intends adopting a proactive marketing stance with its products this year. "To this end, we need to strengthen our publicity through participating in exhibitions and placing advertisements in magazines," Yim says. He says this strategy aims to lure more customers and open up the Chinese mainland market.
"In addition, we will strive to enhance our competitive edge by visiting more customers to collect the latest market information," says Yim, who points out that fashion trends and belt styles change rapidly.
"To maintain a close connection with importers in the US and Europe and to keep abreast of the market is our top priority," he adds. That includes answering the market's increasing concerns about environmental and product safety. "We ensure that all materials such as metal and leather used for production are free from harmful substances," he says.
"To strengthen our customers' confidence, we will provide them with a product safety certificate issued by an accredited quality assurance agency upon request," he adds.
All products are produced at the company's factory in Guangdong Province on the Chinese mainland. It also has a 1,200-square-foot showroom in its Hong Kong office that serves as a meeting place for buyers worldwide.
"In view of Hong Kong's status as an international business centre, keeping a showroom here provides added convenience to buyers who are frequently travelling to this part of the world," says Yim. "Buyers coming to our showroom are also able to source from an assortment of our best-selling items and new designs."
Apart from customers in Europe and the US, the company's products are well received by buyers from other markets including Japan, Eastern Europe and the Middle East.
"The US is our favoured market with its big order size, while Japanese buyers are those asking for the highest quality standards. However, they are willing to pay a relatively higher price," Yim says.
He attributes the company's success to several major elements. "A pragmatic and trustworthy manner is always uppermost in our mind," he says. "It is important to establish trust with customers. You cheat them once and they will never come back."
The firm also makes sure customers understand the quality and details of products, giving them comprehensive advice on product information. Prompt delivery and sincere customer service is also a priority.
"In terms of business, about half of our turnover comes from old customers who have been with us for more than 10 years," says Yim. "We regard this result as testimony to our excellent service and good business attitude."
WRITTEN BY VANAPA ONGVISES
Yue Fung Thai Co
Flats B-D, 5/F, High
Wan Fty Bldg,
47 Hoi Yuen Rd, Kwun Tong,
Kowloon, Hong Kong
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