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Time-honored brands should innovate to expand
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Time-honored brands should invest in innovation to ensure they continue to grow in a sustainable way, organizers of a fair honoring these brands said yesterday.
“Most of the time-honored brands are owned by medium-sized or even small-sized companies ... thus relentless innovation is the only way for them to pursue sustainable growth,” said Tang Pengrong, exhibition department manager at the Shanghai East Best Group International Trade Promotion Co, one of the organizers of the China Time-Honored Brand and Famous Brand Expo.
For the first time in the fair’s seven-year history, it will allocate an area for companies to demonstrate their efforts in innovation. The organizers said products like bamboo-made Forever bicycles, fashionable Laofengxiang jewelry and multi-purpose Phoenix sewing machines will be shown in the area.
“We expect to see China’s time-honored brands try to balance between keeping the tradition and becoming vogue,” said Shao Yuling, secretary-general at the Shanghai China Time-Honored Brands Association.
More than 204 brands which boast a long history will be displayed at the four-day fair at the Shanghai Exhibition Center, which opens on September 26. The organizers expect sales to be bigger than last year’s 8.16 million yuan (US$1.3 million).
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