On September 4th, the 17th Asia Fruit Logistica opened at the Asia World-Expo in Hong Kong SAR, China. Pagoda debuted at the event under the theme "United in Diversity, Thriving Together", announcing its entry into the international consumer market. The exhibition attracted over 750 professional exhibitors and buyers from 40 countries and regions worldwide.
At the event, Pagoda presented its supply chain and logistics capabilities, highlighting a selection of fruits including melons, green grapes, apples, and prunes. The exhibit featured eleven categories comprising 15 types of fruits and an assortment of organic vegetables labeled as "Three Zero". The booth attracted a wide range of visitors, encompassing both international and domestic buyers, partners, and attendees of the exhibition.
Mr. Zhu Qidong, Deputy General Manager of Pagoda Group and head of the B2B Business Group and Overseas Store Development Business Unit, mentioned that Pagoda plans to utilize its over two decades of supply chain experience, its track record in B2B overseas expansion, and comprehensive market research to initiate its entry into the consumer market outside of China, beginning with Indonesia. Moreover, Pagoda's B2B overseas operations have experienced expansion across various countries and regions, achieving a growth rate of approximately 30% in the first half of 2024.
Mr. Zhu highlighted that Pagoda's move to enter the consumer market internationally is aimed at facilitating its global expansion and fostering long-term growth. He noted the limited presence of specialized fruit retailers on the global stage, especially those offering a structured combination of products and services. The market for entities adept in both B2B and B2C operations, along with a robust supply chain, is notably small. Despite the high development levels and purchasing power in many countries, there exists a noticeable discrepancy between the demand for high-quality, affordable, and well-supported products and what is currently available. Pagoda sees this gap as a key area where it can apply its strengths.
Industry analysts highlight that Indonesia, as the largest economy in Southeast Asia with a large population where fruits are a staple in daily diets, especially with the rising middle class, presents a significant market opportunity. The disparity in local fruit quality and the lack of membership systems and after-sales standards make Indonesia a promising choice for Pagoda's overseas debut.
Pagoda has announced its collaboration with a partner in Indonesia that aligns with its corporate ethos and philosophy. This partner is experienced in managing high-end market operations and has a deep understanding of local regulations and market dynamics, suggesting a harmonious partnership. Pagoda intends to inaugurate its first outlet in Indonesia by the year's end, with the objective of developing a strong operational model in the country that could serve as a foundation for future expansion into additional markets.
For more information:
Shenzhen Pagoda Industrial (Group)Corporation Limited
https://www.pagoda.com.cn/en