Editor's note: The Entrepreneur of the Year (EOY) Awards is a program created by Ernst & Young to identify, salute and reward outstanding Chinese entrepreneurs who have made significant contributions to the economic growth and prosperity of China.
Ernst & Young announced the winners for 2008 on November 21, including those in consumer products, real estate, service, industry, technology and energy.
Following is China Daily's interviews with the 12 winners and their profiles:
Ding Shizhong, board chairman and chief executive officer of Anta Sports Products Ltd
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【11】 【12】 Ding was convinced he could build a homegrown sports brand to rival global sports companies. True to his vision, Anta Sports has developed into one of best-known Chinese brands of sports footwear, clothing and accessories over the past 15 years.
The company has a 7 percent share of China's branded sports gear market, ranking it second among domestic brands and not far distant from renowned global brands in the country.
Behinds the success is a highly effective branding strategy, including targeted sponsorship in sports such as table tennis, volleyball and basketball. Using a mid-range market strategy, Anta differentiates itself from more expensive brands such as Nike.
The company has 5,193 authorized retail outlets nationwide, employs 12,500 people, and has a sports science laboratory for technological innovation. Anta generated 3.2 billion yuan in revenue last year, a 155 percent increase over 2006.
Q: How do you perceive the entrepreneurial spirit?
A: "Never stop" is my company's slogan. It is also the motto in my working life. In addition, bearing corporate responsibility is also part of the entrepreneurial spirit.
Q: Can you share with us some valuable insight you gained in operating your business?
A: A pragmatic attitude and high efficiency in management were crucial to Anta's startup period and still plays an instrumental role in the company's development today.
Q: What factors pushed your company's rapid growth?
A: One is the fast-growing, enormous Chinese market; the second is our accurate branding strategy; and the third is Anta's highly efficient, impassioned teamwork.
Q: Could you give us a further explanation of your branding strategy?
A: Competition in the Chinese sports product market is quite fierce. Against such backdrop, Anta has still achieved strong growth, which has a direct relationship with its branding strategy.
Since its founding, our company has been targeting the mass market and our target consumer group is young sports lovers, especially aged between 17 and 24 years old. It is quite a big group in the Chinese market.
Q: Is the current economic downturn an opportunity or a challenge to Anta?
A: Both. On the one hand, the global economic downturn has influence in the consumption market, which will pose a challenge to us. On the other hand, the downturn will also bring us more opportunities.
For instance, we will have more options in selecting suppliers. Moreover, we have ample funds for further development since going public (last year).
A company will become more competitive if it can manage to continue growth in the challenging circumstances.
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