The current domestic outbreak of COVID-19 has eased, but it continues to wreak havoc on a global scale. The outbreak has had a major impact on the global economy, and the global economic recession is a foregone conclusion. China’s rapid economic growth has always relied on the “three pillars”, one of which is foreign trade. The trend of “de-globalization” will become more and more obvious in the future, and the impact on foreign trade enterprises will be the biggest. There are a large number of domestic foreign trade companies, many of which are still foundry-based. The companies that do OEM for large foreign brands have been affected greater influence. Foreign orders have dropped sharply. They lack their own brands, and it is difficult to expand the domestic market in a short time. A fatal blow will affect the development of the companies.
In fact, there are already many local enterprises in China, starting from foundry, and started on the road of creating their own brands ten years ago. Now I want to think that the practice of a private contract manufacturing company that has maintained a long-term cooperative relationship with our laboratory design team while studying at Zhejiang University seems to be exceptionally ahead of schedule. The company is located in Xiasha, Hangzhou. It was originally dedicated to OEM for well-known foreign brands of socks. It has been deploying its own brand of sports socks since more than ten years ago. After nearly ten years of difficult operations, it has finally improved greatly. Although the coverage of the product audience is not large and belongs to the niche professional sports people, it has also opened up a market world in China.
Perhaps only such enterprises can survive in the current special period, so I think that opportunities are always given to those who are most prepared.