It is wonderful to see fellow MAI Group company, ICD Property sponsor Melbourne's #LightUpMelbourne Festival. This will be the first large lantern event in Australia & is an exciting initiative to share Chinese culture with the broader community.
On the 22nd of February 2019, the Mai Group hosted its 10-year anniversary party at the Melbourne Town Hall. The party was to celebrate the group’s success over the past 10 years, thanking both the Mai family and our partners for their significant contributions/support over our journey and to toast to sustained success in the future.
Businesses that embrace the value of their people will thrive in increasingly unpredictable times.
More than thirty percent of Australian start-ups fail in their first three years, while established businesses are challenged to adapt, according to the Department of Industry. Staying relevant is hard not only because it requires flexibility, but because the nature of relevancy is also constantly changing. MAI Group CEO Michael Mai says the most successful businesses will be those that put their people first, not their profits.
When you meet a leading entrepreneur for the first time, it’s hard to know what to expect. Clichés of fast cars and arrogance may spring to mind, but with Michael Mai, it couldn’t be further from the truth. He exudes confidence, entrepreneurialism, ambition and intelligence, yes, but his manner is mature, unassuming, polite, warm and welcoming. You soon realise that despite being born to one of China’s most influential, successful and wealthiest business men Boliang Mai, CEO of China International Marine Containers Group, Michael Mai is humble, and thankful for being born into a privileged family. As well as wanting to build on his own success with his businesses including ICD Property and Mai Capital, he wants to pay it forward by helping those dealt a less lucky hand of cards in life.
Following Single’s Day (11/11), it can be easy to distinguish China’s e-commerce system from others purely by its market size. Alibaba’s sales figures for Single’s Day in 2018 outperformed the combined sales for e-commerce platforms in Australia for the entire duration of 2017. Consumers in China spent approximately A$42.4B[i] on Alibaba platforms on Single’s Day this year, in contrast to the A$21.3B spent online by Australian consumers in 2017.[ii]
This Spring MAI Capital is supporting the not-for-profit YGAP’s Polished Man movement which encourages men to paint their nails blue to raise awareness for violence against children. The entire premise of this movement is to spark conversations through the attention drawn to the single nail painted on the hand and create an opportunity for a discussion on a classically neglected issue.
MAI Capital regularly gets a variety of questions about market entry in China and the broader trends in the China market. Our Investment Director, Tom Ellis, answers some of MAI Capital’s most frequently asked questions and provide some invaluable insights based on his experience working directly with our China Partners.
In a few weeks, I will be giving a presentation at the Naturally Good Natural Organic & Healthy Products Expo in Sydney.
Ahead of this, Nutra Ingredients-Asia reached out to get some general advice for companies specifically in the health food and supplement space that want to expand their products to China, covering a range of interesting topics.
Throughout 2017, we at MAI Capital have been able to see some of the best that Australian and Chinese business has to offer, and have been regularly posting on our site about developments and events that occur within the space that we operate in. Coming to the end of 2017, we thought that it would be a good idea to take the opportunity to highlight some of the key themes that we have identified this year.
In our previous article, we gave a quick rundown of China’s Singles Day and how we see it as a great opportunity for Australian businesses to expand their sales horizons.
But now that Singles Day is over for the year, it is a good idea to take a step back and see what took place. From our perspective, there are three key takeaways.
For those who exist within the E-commerce space in China, there is no bigger event than Singles Day. During Singles Day 2016, China collectively spent around AUS$22.63bn online. This makes Singles Day the 10th largest e-commerce market in the world, almost being larger than the entire Australian market . Something to think about if you sell anything online to Australians.
Over the past few weeks, our Investment Director, Tom Ellis, was invited to attend multiple events within the Australian early stage community.
This includes the Muru-D Melbourne Boot Camp, a fireside chat at the York Butter Factory, the University of Melbourne MAP Gala and the River Pitch series hosted by River City Labs and Steve Baxter in Brisbane.
It does not take much effort to find a litany of both domestic and international companies that have unsuccessfully tried to break into the Chinese market – often spending a considerable amount of time, resources and money in the process. By Grant Titmus, originally published by GROW Magazine
At MAI Capital, the team recently returned from one of our regular trips to China. As part of this we were lucky to meet with some great Australian companies. This was a great chance to catch up with some brilliant entrepreneurs who had successfully made their way from Australia to China. These conversations were insightful to highlight both the incredible opportunity, but sometimes challenges, that exist in expanding into new markets.
While many in the west have heard of WeChat, the most popular social network in all of China, many of them do not fully comprehend its functionality and impact. For people in China, it doesn’t matter that they can’t use Facebook, Twitter or Snapchat due to the country’s internet firewall, because they have WeChat.