INTERNATIONAL MARKETING

PLAN OF “THE HONEST

COMPANY” TO ENTER THE

CHINESE MARKET

GROUP 2:

Alexis KAGARAKIS

Leelavathy SWAMINATHAN

Luiz Felipe DE MELLO MONTEIRO

Mehmet BÜLBÜLDERE

Thi-Thanh-Thao HUYNH

Executive Summary …………………………………………………… 4

Company Profile and Current Market Strategy ………………… 5

Situational Analysis …………………………………………………… 7

The Honest Company Market Entry Strategy: Key Channels … 13

The Honest Company Market Entry Strategy: The 4P’s ………… 16

Conclusion ……………………………………………………………… 24

References ……………………………………………………………… 25

TABLE OF CONTENTS

In recent years, there has been an increased demand for natural,

safe, and environmentally friendly baby products, household

supplies, and soaps and detergents. Already a success in the U.S. and

Canada, The Honest Company seeks to expand to a new market.

Because of a growing middle class and a platform that will give the

company an acceptable level of risk and high potential for earnings

and growth, the most reasonable and opportunistic market seems to

be China.

In this case study, we will examine The Honest Company’s current

business and marketing strategy, analyze the potential market for its

products in China – Tmall Global, in particular— and develop a

market entry strategy to ensure the company’s successful entry into

the Chinese market.

EXECUTIVE SUMMARY

4

COMPANY PROFILE AND

CURRENT MARKET STRATEGY

Company Profile –

Who We Are

The Honest Company is a business

devoted to providing the safest

products possible to its customers.

Founded in 2011 by actress Jessica

Alba and Christopher Gavigan, the

company has taken the baby,

household, health and personal

care industry by storm. Shocked at

the hazardous chemicals found in

common household cleaners,

soaps, and detergents, Gavigan

and Alba co-founded the

company with the purpose of

creating safe products for families in

order to give children the healthiest

and safest start to life, at an

affordable price. The company’s

debut came at the right time, as

there has been a simultaneous

changing consumer social attitude

as consumers become more

environmentally conscious. This

increase in demand for

environmentally friendly, fair and

sustainable products has helped

The Honest Company become a

beloved brand by many consumers

in the U.S. and Canada.

Mission

The Honest Company strives to

make the world less toxic and help

benefit the next generation to live a

healthy and safe life. The

company’s mission is to work

together as team for better

outcomes with dynamism, integrity,

and honesty, with creativity and in a

fun and motivating environment to

produce better results by offering

healthier and safer products to

customers.

Vision

The Honest Company’s vision is to

protect people and the planet by

creating high-end products and

providing continuous quality of

service. The company always strives

to be better and provide customers

with the safest and healthiest

products possible.

5

Company’s Current

Marketing Strategy

The company started as on online

e-commerce store to help mothers

who, like Alba, didn’t have the time

or shopping cart space to purchase

all household, baby, and other

supplies at the grocery store. While

The Honest Company started as an

e-commerce company, it has since

expanded to major retail stores

such Target, Whole Foods,

Nordstrom, and Costco.

The Honest Company also places

significant value on customer

feedback, in order to continuously

improve products and customer

service. By starting the company

online, this gave the company the

ability to respond quicker to

mistakes and customer feedback

from the beginning, which resulted

in product improvement and

customer loyalty.

One of the company’s founders,

Jessica Alba, is an asset for the

business, as she is also the face of

the company. Customers associate

The Honest Company with Jessica

Alba. The company has significantly

leveraged social media through

both The Honest Company and

Alba’s social media channels.

Finally, The Honest Company

always tells the brand’s story in its

marketing. Unlike most companies,

many consumers know why Alba

started the company, and what the

company’s core values are. This

strategy is in line with the

company’s mission and values.

6

Political

The People’s Republic of China is a

communist country led by President

XI Jinping. While the country has

seen economic growth and greater

personal freedoms and choices,

there are still strict political controls

and a controlled national media.

With the U.S. election of Donald

Trump as president, there is concern

about the future relationship

between the U.S. and China. If

president-elect Trump keeps his

promises to end or renegotiate

international trade deals and

impose higher tariffs on Chinese

imports, there is a possibility of

sparking a trade war. It is unclear

what kind of effect this may have on

companies such as The Honest

Company entering the Chinese

market.

Legal

The 2008 Chinese milk scandal was

a crisis in the country that spurred

new regulations and the creation of

regulating bodies in the

government. Because of several

food materials and adulteration of

melamine, which is a toxic

chemical, in 2008, six infants died

from kidney stones, 54,000 babies

were hospitalized as a result of

kidney damage and 300,000 victims

were affected in China. In response,

China created a Food Safety Law

forbidding any unauthorized food

additives, and the China Food and

Drug Administration (CFDA) was

created to centralize food and drug

safety. Today, enforcement of food

safety regulations remains

unsatisfactory, and confidence in

Chinese dairy products is weak, thus

much of the baby formula market is

led by foreign brands.

While the government (and

Transcosmos) has made it easier for

foreign companies to enter the

Chinese market, many large foreign

MNCs have faced legal issues in

China. Generally, China is

considered to be lax on enforcing

regulations, but two examples of

foreign companies facing legal

issues include Google and

GlaxoSmithKline, who have both

faced legal issues with the

government. It is important for

foreign companies to bear in mind

both the benefits and the legal risks

of operating in China.

SITUATIONAL ANALYSIS

7

Economic

The Chinese economy has become

much more open over the past 40

years, has opened up to foreign

companies and become more

involved in the global economy.

Though the Chinese government still

plays a large role in regulating the

economy, there has been growth in

the private sector, fiscal

decentralization, and increased

autonomy for companies and state

enterprises.

China is considered a Big Emerging

Market (BEM), has a growing GDP

and China’s middle class is also

growing rapidly. In 2015, China’s

GDP was $19 trillion and the GDP

per capita was $14,100. China’s

poverty rate fell from 85% to 15.9%,

or by over 600 million people. This

rise in the middle class means there

is a growing portion of the

population with an increased

disposable income.

International trade and foreign

investment inflows have been major

factors in China's remarkable

economic growth during the past

quarter century. China is the world’s

largest economy; though, China’s

per capital income is still below the

world average.

China’s One-child policy was

applied in China between 1979 and

2015. It was changed to a two-child

policy in 2016. Based on this

information, it can be understood

that most of the families in China

have only one child or two children.

Therefore, it can be assumed that it

is more likely for Chinese to spend

more of their income on their

“unique” children compared to the

other countries as a result of paying

more attention to one child.

Cultural

Culture is extremely important in

international marketing, and buyer

behavior and consumer needs are

partly influenced by cultural norms.

The Chinese culture is very different

from American culture, therefore it is

important for American MNCs to

learn about and understand the

culture before entering the Chinese

market. Some of the main values of

the Chinese include harmony,

righteousness, wisdom, honesty,

and loyalty. There is also a strong

importance of family, but also

extends to include friendships.

8

Generally, there are multiple

decision makers in the Chinese

culture. Living with parents after

marriage or pregnancy is common

in China. As a result, not only

parents of the baby but also

grandparents make decisions

related to the upraising of a baby.

Therefore, marketers in the baby

care industry should enforce the

idea of honesty, and should not just

limit their target audience to

mothers, if they hope to gain a loyal

following.

C-section preference is also a

factor that impacts the baby care

product industry. According to a

study conducted in 2007 and 2008,

China had the highest

documented rate of C-section,

which was 46% of total births.

As a result, a high need for breast

pumps and infant milk formulas can

be expected because of delayed

lactation. There is also a large baby

population in China, which

indicates that China is a huge

market for baby care products.

Social

Living standards have improved for

many Chinese citizens in the past

several years. With increased living

standards and income, consumers

are able to spend more money on

products.

Social media plays a large role in

China and in consumers’ buying

habits. WeChat is China’s largest

social media platform. The app is

used by consumers to make

purchases and send money or gifts

to friends. In 2015, 688 million

Chinese had internet access. This

indicates that social media and

other online platforms play a key

role in the growth of companies in

the Chinese market. Chinese

consumers are also largely

influenced by celebrities.

9

Technological Chinese e-commerce is developing

very fast and companies are

investing heavily in the sector to

offer more sophisticated and

complete online services.

McKinsey released a report called

“China’s iConsumer 2015” conta-

ining the internet intensity and the

e-commerce behavior of 630 million

Internet users in China. It is possible

to observe that 39% of the internet

users spend more than 21 hours on

the internet per week.

Furthermore, the way that Chinese

customers are shopping is also

changing due to technology

advances. While shopping in a

physical store, the Chinese

customer is using the mobile phone

to find the best price.

The Honest Company will certainly

benefit from the technological

advances because of the

significant increase of e-commerce

transactions in China. According to

the McKinsey report, “Mom & Baby”

products are in top 20 of goods

purchased online in the Chinese

market and the average number of

online purchases is 23 times per

year.

10

SWOT Analysis

Strength is considered an internal

factor and can be controlled by the

organization. The strengths of The

Honest Company are identified

below:

Product Quality:

The products produced by The

Honest Company are organic and

are made with high quality raw

materials. The company uses non-

toxic household products. The

business is growing fast and the

quality of the products are one of

the key factors for the brand

success. Customers in USA and

Canada are willing to pay higher

prices for products that are certified

as organic. The Honest Company

and their suppliers are certified by

the most important regulating

agencies for cosmetics and food.

Brand reputation:

Brand Image:

The founder of the company is the

movie star Jessica Alba who

decided to create the brand due to

the difficult to find organic and non-

toxic products in the market. The

organization image is very

attached to the actress who has

positive reputation in USA.

Weakness is considered an internal

factor and can be controlled by the

organization. The weaknesses of

The Honest Company are identified

below:

Difficulties to produce organic: the

priority of the company is to

produce all the products in USA,

however some products (i.e.

Diapers, Wipes and Dish Towels)

have had to be produced in China.

The company explained that the

project presented by The Honest

Company was rejected by all US,

Canadian, and EU manufacturers,

because it was too high cost, highly

labor intensive,

11

and would need re-tooling and

upgrades in equipment and

services.

Opportunities is considered an

external factor and cannot be

controlled by the organization. The

main opportunities of The Honest

Company are identified below:

Strong baby population: In 2010,

there were 56 million babies in

China. In 2014, the population of

ages 0-4 was over 80 million.

According to 2015 statistics, 20

million new babies are born in China

each year. These numbers show

that China is a huge market for

baby care products.

2008 Chinese milk scandal: The milk

and infant formula containing the

toxic materials in the food safety

incident was produced by a local

brand. As a result, baby food safety

probably started to be taken more

seriously by Chinese parents. There

is an opportunity for foreign brands

to lead this market.

Threats are considered to be an

external factor and cannot be

controlled by the organization. The

main threats of The Honest

Company are identified below:

Multiple decision makers: Living

with parents after marriage or

pregnancy is common in China. As

a result, not only parents of the

baby but also grandparents make

decisions about the upraising of a

baby. If older people are assumed

to be more traditional and into local

brands, a potential barrier can be

faced by the company in breaking

into the Chinese market.

Discount for empty tins and boxes:

Some of the international brands

selling their products in China

experienced a serious problem in

the past. Some local retailers

collected the empty original tins of

international formula brands, put

the locally produced formula into

them and sold them as the

international brands. Foreign brands

must be vigilant in their efforts to

prevent this.

12

The Chinese market offers The Ho-

nest Company a unique

opportunity to enter the market with

an acceptable level of risk and high

potential for earnings and growth.

In this market, there is a conver-

gence between successful plat-

forms such as Tmall Global, a

perfect local condition with the

Shanghai Free Trade Zone, and an

ideal partnership that allows for a

turnkey solution through the com-

pany Transcosmos. The Honest

Company will make its entry into this

market through Transcosmos onto

Tmall Global.

Brand reputation:

Transcosmos and its

Platform Tmall Glo-

bal

The supply chain partner for The Ho-

nest Company will be Transcosmos.

Transcosmos is a full-service com-

pany that helps foreign companies

enter Asian markets. By working with

Transcosmos, entry into the Chinese

market will be simplified for The

Honest Company.

THE HONEST COMPANY MARKET

ENTRY STRATEGY: KEY

CHANNELS

13

Transcosmos, which has been

operating in China for 10 years now,

is an ideal choice for The Honest

Company because it provides full

services including: a contact cen-

ter, HR, marketing research

financial, order management,

system development, big data

analysis, internet advertising, and

website construction and

management. With its one stop

global E-commerce, Transcosmos

will make The Honest Company’s

debut on Tmall Global simple and

cost-efficient. These services offered

by Transcosmos are significant

because it will save resources for

The Honest Company. For example,

rather than having to find, hire,

research and train employees on

customer service in China, Trans-

cosmos offers this service for the

company. Using Transcosmos is the

best entry mode because it will take

away a certain level of risk from The

Honest Company in the transition

into this market.

Tmall Global is a business-to-con-

sumer platform that allows Chinese

consumers to purchase a wide

variety of products on one platform.

Tmall Global is the biggest online

shopping platform in China, and it is

a trusted platform for Chinese con-

sumers to purchase foreign pro-

ducts. Additionally, this platform will

allow The Honest Company to

reach consumers throughout the

entire country, rather than having to

select just one or a few cities if it

were to open a few physical stores.

As shopping on Tmall Global is a

cultural phenomenon in China, it is

crucial for The Honest Company to

have a presence and make its

debut on this platform if it hopes to

successfully enter the Chinese

marketplace.

The Honest Company should ex-

pect costs associated with Tmall

Global to include a deposit fee,

annual technology and service fee,

14

and sales commission. The deposit

required can range from $8,000 to

$25,000. An annual service fee

varies depending on product

category. A sales commission is

applied for every transaction

made. There is also an annual

technology and services fee. For

milk powder/ supplements/ nutrition

and diapers/bathing/baby food,

there will be a technology

commission fee of 2% and the

yearly technology fee of $5,000.

Shanghai Free Trade

Zone

The Shanghai Free Trade Zone is a

28 square kilometer area that has

allowed China to open its market to

foreign companies. There are four

areas of the free trade zone,

including: Waigaoqiao Free Trade

Zone, Waigaoqiao Free Trade Lo-

gistics Park, Yangshan Free Trade

Port Area and Pudong International

Airport Free Trade Zone. In this free

trade zone, there are tax prefe-

rential policies that are beneficial to

foreign companies. Transcosmos

utilizes the Shanghai Free Trade

Zone, which will allow The Honest

Company to ship products there

and keep them in a warehouse –

tax free – until items are sold. This will

reduce logistics costs and reduce

delivery times to consumers, in a

culture where prompt delivery is

important.

The Honest Company will benefit

from the convergence of these

three platforms in many ways. By

using Transcosmos as the supply

chain management, Transcosmos

will take the “heavy lifting” work

from The Honest Company.

Transcosmos will help reduce the

chances of failure and potential

legal problems for The Honest

Company’s entrance into the

Chinese market. The company will

will have a higher chance of

success by working with

Transcosmos and using Tmall

Global. Through Transcosmos and

Tmall Global, The Honest Company

can operate locally in China.

15

THE HONEST COMPANY MARKET

ENTRY STRATEGY: THE 4P’S

As a company that aims to have an international

profile, penetration into the Chinese market can be

a good opportunity, as long as the right market entry

strategy is followed. The proper market entry

strategy should be explained by the four main

factors, which are commonly known as the “4P’s of

marketing”. For each factor, current facts regarding

Chinese culture and politics should be taken into

consideration, in addition to the product portfolio

and vision of The Honest Company.

16

Product In the product portfolio of The

Honest Company, there are several

categories, including:

Diapering

Feeding

Personal Care

Cleaning

Vitamins & More

Gear & More

Feminine Care

Although there is a broad range of

products, each has a common

characteristic: being the safest

among its kind. This makes The

Honest Company products,

especially baby care products,

different.

To better manage the market entry

period, The Honest Company

should focus on a smaller number of

products, rather than all of them. If

the following factors are taken into

consideration, categories and

product strategies

can be decided more reasonably:

Strong baby population

Children and baby care

product sales in China

One-child policy

C-section preference

2008 Chinese milk scandal

Multiple decision makers

Difference of approach

between large and small

cities

With all these criteria, it can be

concluded that focusing on baby

care products would be a

reasonable choice. However, the

choice between standardization

and customization should be

decided carefully.

Although product reliability is

important for all products, for

formulas, it is much more important

compared to the others. Therefore,

standardization strategy should be

followed for formulas. To be able to

better monitor the production

17

period, the option of producing

them in China can be eliminated.

On the other hand, for packaging

of all products or diaper production,

customization can be applied. The

Honest Company has already been

producing some of its products such

as wipes and diapers in China.

Therefore, continuing production in

China and making some

customizations for Chinese

producers can be easily managed.

For example, The Honest Company

has a product called “soothing

baby bottom wash” with Sweet

Orange Vanilla scent. This scent

works for the American market;

however, the appeal of this scent

might be different for Chinese

consumers. They might prefer these

products without any scent. This

requires a consumer survey.

In conclusion, regarding product

strategy, The Honest Company

should:

Prioritize baby care products

especially for feeding instead

of women’s and men’s care

products to manage its

marketing in China more

easily

Use standardization for for-

mulas not to conflict with its

vision

Use customization for pro-

ducts such as diapers

Use customization for pack-

aging and branding with

China-related items to be

appealing to the consumers

who are in small cities or

grandparents

Benefit from Transcosmos’s

customer services oppor-

tunity instead of starting a

new center for this in China to

reduce its costs and to

respond Chinese customers

faster

Pricing

Pricing policy is another crucial

factor affecting market entry

strategy. To determine the details of

this policy, possible effects of the

following factors should be

discussed:

Citizens’ rapid income gro-

wth

Example from tier-3 cities: Ac-

cording to Forbes, consumers

living in smaller cities have a

higher tendency to spend

more on baby care products

compared to the big city

consumers.

18

2008 Chinese milk scandal:

Due to the scandal related to

the products of a local

producer, reliability of local

brands is still being

questioned by Chinese

consumers. In addition to

purchasing power and the

willingness to purchase,

decreasing reliability of local

producers also indicates that

The Honest Company does

not have to follow “lowering

profit margin” policy. Prices of

The Honest Company pro-

ducts can be higher than the

local producer products.

Support provided by Trans-

cosmos: thanks to

Transcosmos, The Honest

Company will have

advantages related to the

taxation and inventory ma-

nagement cost. Most of the

sales will be performed online

through Tmall Global. Depen-

ding on the effectiveness of

this advantage, The Honest

Company can apply some

discount campaigns or have

the chance to keep its prices

lower than the prices of other

international brands.

Discount for empty tins and

boxes

Depending on this criteria and

price-quality matrix, “premium

strategy” or “penetration strategy”

can be used. However, if the

tendency of Chinese parents to

spend more on baby care products

and the high profile of The Honest

Company are taken into

consideration, “premium strategy”

can be more reasonable and

advantageous. Depending on this

strategy, The Honest Company

does not have to reduce its prices.

However, the company can try to

target the prices of other premium

brands, if possible.

High

Price

Medium

Price

Low

Price

High

Quality

Premium

Strategy

Penet-

ration

Strategy

Superb

Value

Medium

Quality

Over-

charging

Strategy

Average

Strategy

Good

Value

Strategy

Low

Quality

Rips

Off

Strategy

Cheap,

Flashy

Strategy

Bargain

Price

Strategy

19

In conclusion, The Honest Com-

pany’s pricing strategy should be as

follows:

Prices can be higher than the

prices of local producers.

The Honest Company should

try to keep its prices slightly

lower than other inter-

national premium brands, if

possible. This depends on the

transportation cost and ad-

vantages provided by Trans-

cosmos. Having lower prices

than the other international

brands will increase the num-

ber of consumers trying The

Honest Company products,

which can lead to brand

loyalty.

Discounts can be applied for

the consumers bringing emp-

ty tins or boxes. Therefore,

o material cost can be

decreased,

o recycling approach

can be promoted,

which is consistent with

the vision of the com-

pany

o brand image can be

protected against the

risk of counterfeiting.

As indicated before, the amount

and the possibility of discounts

depend on the transportation cost

and Transcosmos advantages.

Promotion

By taking the Chinese culture and

tendencies of Chinese society into

consideration, the following

methods can be used for promotion

of The Honest Company products in

China:

Branding and Motto: To make

Chinese consumer feel closer to

and familiar with the brand, a logo

with Chinese characters should be

used. To avoid language related

controversies and incorrectly

translated messages, the motto

used on the packages and in the

advertisements should be simple

and short. “Honestly” can be used

for this purpose.

20

WeChat-Moments: WeChat is the

most commonly used and most

powerful social media tool in China.

It has “Moments” option for

advertising, like Facebook ads

showing up in the timeline/news-

feed. For companies registered in

mainland China, the bulk price paid

at the beginning is around $7,500

while it is around $20,000 for foreign

companies. It is possible to target

the users depending on location,

age, gender, interest and phone

network. The cost per 1,000 views is

around $5.8 for non-specific

location ads, $20.3 for the users in

Beijing and Shanghai and $13 for

the users in 35 first and second tier

cities.

As can be seen from the exemplary

ads, it is possible to include brand

logo and name, ad description, a

URL link and up to 6 pictures.

Babytree.com: One of the first baby-

advice websites in China was

Babytree.com. On this website, it is

possible to make discussions about

pregnancy and raising babies. It

also offers advertisement option for

companies.

Celebrity endorsement: Chinese

consumers are influenced by

celebrity endorsements. The Honest

Company has an advantage since

Jessica Alba is a founder of the

company, and can be used to

promote the products in China. In

addition to Jessica Alba, for

instance, Fan Bingbing can be an

ambassador for the brand. She is

one of the most famous Chinese

actresses and singers in China.

21

Her involvement with social res-

ponsibility projects regarding child-

ren is another factor making her a

reasonable choice. However, the

following issues should be consi-

dered: The Honest Company’s bud-

get for advertising and China law

requiring celebrities to actually use

the products that they are adver-

tising.

TV ads (only on local channels of

small cities): TV ads can also be

used to promote products.

However, national TV channel ads

can be very costly. In addition to

national TV channels, regional/local

TV channels should be used

depending on the advertisement

budget of The Honest Company. It

would be more reasonable

because consumers living in smaller

cities are influenced more via TV

ads compared to the big city

consumers, according to Forbes.

Discount for empty tins and boxes:

As indicated in the previous section,

collecting the old tins and boxes

would be consistent with the

company vision and helpful to

protect the brand image. The

discount percentage should be

decided depending on the budget

of the company.

Place

Since the market entry strategy will

include Tmall Global, the only sales

channel will be the online platform

at the beginning to lower the cost

and to manage the process in an

easier manner. This approach can

be expected to work because it is

known that online shopping is very

common in China.

22

Depending on the demand coming

from Chinese consumers, using

retailers can be an option in the

following years. However, again, it

should be very carefully monitored;

therefore, the number of retailers

should be kept limited when they

start using retailers. For example,

only big malls in Beijing and

Shanghai can be used.

23

CONCLUSION

Due to its success in the U.S. and in Canada, The Honest

Company sees an opportunity to expand internationally. The

company sees entry into the Chinese market as the best option

due to a rapidly growing middle class, a platform and intermediary

that will make entry into the market simplified, and an opening in

the industry, particularly for baby formula.

As a result of the market analysis, The Honest Company is

encouraged by the potential for growth and international

expansion by entering the Chinese market. To increase chances

of success, the company should be especially conscientious of

cultural tendencies, consumer preferences, and the impact of

technology and the use of the internet for shopping.

In conclusion. having the highest population in the world,

being the second largest economy by nominal GDP, offering

advantages for newcomer international companies and being

close to the other potential markets such as India, we find China is

a very good location as a milestone for the future of The Honest

Company.

24

REFERENCES

https://www.honest.com/

http://www.forbes.com/2010/09/30/china-baby-care-market-infant-milk-mothers-markets-economy-

bcg.html

http://www.forbes.com/global/2010/0118/companies-technology-internet-babytree-baby-love.html

https://www.statista.com/statistics/298238/china-children-and-baby-care-product-sales/

https://www.globalphilanthropic.com/blog/2015/03/philanthropy-in-china-baby-boomer-billionaires/

https://en.wikipedia.org/wiki/One-child_policy

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nese_women_deliver_babies_via_c_section_.html

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3dbPinmT4uGM&usg=__fbCzzwakn1b0ur6FzbVJI4ZL1iI=&sa=X&ved=0ahUKEwibgJ2q0ezQAhWSSxoKHXp

WBFkQ9QEIIjAD

http://about.tmall.com/

http://images.google.fr/imgres?imgurl=http%3A%2F%2Fmedia.gettyimages.com%2Fphotos%2Fyoung-

chinese-boy-with-hands-on-hips-parents-and-grandparents-behind-picture-

id138538270%3Fk%3D6%26m%3D138538270%26s%3D170667a%26w%3D0%26h%3DC5hUTbKCSs3wzavv

ycxut-

afObTX8OslaX1hld5ykNI%3D&imgrefurl=http%3A%2F%2Fwww.gettyimages.com%2Fdetail%2Fphoto%2Fc

hinese-children-playing-with-toys-on-the-floor-royalty-free-

image%2F138538268&h=338&w=507&tbnid=0hZ0bifJVmfW1M%3A&vet=1&docid=9EQnpiH7-

bsKoM&ei=zbFNWNCnMsP_aZ66mogK&tbm=isch&iact=rc&uact=3&dur=361&page=0&start=0&ndsp=18

&ved=0ahUKEwiQwsuy-OzQAhXDfxoKHR6dBqEQMwgdKAEwAQ&bih=662&biw=1366

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https://www.cia.gov/library/publications/the-world-factbook/geos/ch.html

http://www.forbes.com/sites/yanzhonghuang/2014/07/16/the-2008-milk-scandal-

revisited/#25447a344282

http://www.forbes.com/sites/greatspeculations/2016/12/12/heres-how-a-partnership-with-wechat-can-

drive-revenues-for-starbucks-in-china/#5fb6404e49bc

http://carnegietsinghua.org/publications/?fa=53613

http://en.china-shftz.gov.cn/About-FTZ/Advantages/ http://en.shftz.gov.cn/about-ftz/introduction/ http://transcosmos.com/about/ http://transcosmos.com/transcosmos%20investment%20portfolio_20160620.pdf http://about.tmall.com/ http://www.trans-cosmos.co.jp/english/company/news/160909.html https://about.tmall.com/tmallglobal/fee_schedule http://www.webretailer.com/lean-commerce/tmall-global/#/

https://blog.honest.com/why-are-our-wipes-made-overseas/#

https://blog.honest.com/make-products-china/

http://www.mckinseychina.com/wp-content/uploads/2015/02/China%E2%80%99s-iConsumer-

_EN_FNL.pdf

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