Eu Yan Sang: Trust creates brand
From a medical hall to a global healthcare company, Eu Yan Sang today is without a doubt one of the leaders in the traditional Chinese medicine (TCM) industry in Asia, outside China.
Currently, the company manufactures and retails Chinese herbs and medicines across Singapore, Malaysia and Hong Kong Special Administrative Region (SAR) in China.
Eu Yan Sang owns more than 100 retail stores under its brand name with a portfolio of more than 260 top-quality branded products and 1,000 different types of Chinese herbs.
Eu Yan Sang Group CEO Richard Eu weighs a kind of medicinal herb. |
Being Singapore's first publicly listed TCM company, and more recently being listed in Forbes Asia "Best under a Billion", Eu Yan Sang has modernized TCM to meet today's lifestyle and keep its brand relevant.
Much of the company's strength is in its constant pursuit in research and development of TCM products relevant to today's consumer needs as well as maintaining quality products using scientific methodologies such as fingerprinting of raw herbs to assure consistency in its efficacy.
The group's chief executive officer (CEO) Richard Eu emphasised: "While we use the wisdom of thousands of years of TCM knowledge as our base, we keep our company at the forefront of the industry by introducing scientific methodology and Good Manufacturing Practice (GMP) standards into our business. This scientific approach has enabled our product validation to enter non-traditional TCM markets such as Australia and the United States."
Eu believes the success of the Eu Yan Sang brand is built on trust that consumers know what they are getting from the company.
"Our approach to branding is to ensure customers associate positive attributes with our company such as quality, reliability and efficacy," the CEO noticed.
It is with this belief and approach that the company secured exclusive worldwide distributor status for Wisconsin-grown American Ginseng last December.
Eu Yan Sang Center boasts advanced facilities. |
With this sole right, Eu Yan Sang currently procures, processes, brands and markets this fine herb globally.
Widely recognized as one of the best types of cultivated American ginseng, Wisconsin-grown ginseng is highly sought after in Asian markets, especially in China, which made up about 70 percent of Wisconsin Ginseng exports in 2005.
To grow the brand, Eu Yan Sang constantly looks for opportunities to chart new waters.
Eu feels that the company has immense potential to grow in Western Europe as well as North Asia, particularly China.
Last November, the company invested 110 million yuan in a new, 1,196-square-meter facility for manufacturing and research and development in Yuen Long, Hong Kong, which signifies the group's commitment to scientific advancement in the region.
"Our goal is to make TCM accessible to a broader and larger audience," Eu continued. "We currently have a presence in six countries and regions Hong Kong and Macao special administrative regions in China, Singapore, Malaysia, Australia and the United States. We epitomize the advantages of being Singaporean, in that we can relate to East and West. This will also help internationalize the brand and grow our brand value beyond what it is today."
For more information, please visit: www.euyansang.com
(China Daily 03/12/2007 page4)
