From November 5th to 10th, the 8th China International Import Expo (CIIE) was held in Shanghai, bringing "globalization" back into the spotlight. As a major consumer industry group rooted in Shanghai, Shanghai Yuyuan Tourist Mart (Group) Co., Ltd. showcased its achievements in overseas expansion at the expo, featuring brands such as Laomiao, Nanxiang Steamed Bun Restaurant, Shanghai Watch, Tonghanchun, and its renowned Yuyuan Lantern Festival. The company aims to leverage the CIIE platform to explore further globalization opportunities.
As an enterprise with centuries of cultural heritage, Yuyuan Inc. has developed a distinctive approach to global expansion—focusing on "zero cultural discount" markets while preserving authentic Chinese cultural elements. This strategy integrates cultural, commercial, and tourism synergies to achieve both cultural and commercial value.
The concept of "zero cultural discount" stems from academic discussions on "cultural discount" in brand globalization, which refers to the diminished appeal and value of cultural products in cross-border markets due to cultural differences. Unlike some companies that adapt their offerings for localization, Yuyuan Inc. avoids assumptions about foreign consumer preferences. Instead, it emphasizes genuine Chinese cultural expression, using innovative presentations to help global audiences better appreciate the essence of Chinese traditions.
For example, on September 30th, Yuyuan’s core jewelry brand Laomiao opened its first overseas store in Kuala Lumpur, Malaysia—a strategic move given the city’s mature gold market and large Chinese community. The brand’s "fortune culture" resonated strongly with local consumers, significantly lowering cultural barriers.
Additionally, the Yuyuan Lantern Festival has gained international traction. In Bangkok, Thailand, the 50-day "Mythical Creatures of Mountains and Seas" lantern exhibition at ICONSIAM attracted over 4 million visitors, generating nearly 1.2 billion global impressions. In Singapore, the "Butterfly Dance Mid-Autumn" display at Gardens by the Bay blended Zhuangzi’s philosophical tale of "Zhuang Zhou Dreams of a Butterfly" with mythical creatures from *Shan Hai Jing* and Shanghai’s iconic White Rabbit brand, evoking emotional connections among global Chinese communities. Following the success of the French edition, multiple countries in Europe, the Middle East, and Southeast Asia have expressed interest in hosting the festival.
Yuyuan’s global efforts have earned recognition. The French lantern festival was selected for Shanghai’s 2023 "Chinese Culture Going Global" funding program and won the city’s "Silver Dove Award" for international communication. The Thai edition was also included in Shanghai’s 2024 "International Chinese Culture Promotion" initiative.
In recent years, Yuyuan Inc. has prioritized globalization as a core strategy, continuously strengthening its presence in overseas markets. Guojin Securities noted that Yuyuan’s diversified business optimization and rich legacy IPs position it advantageously in the current cultural export boom. Similarly, Kaiyuan Securities highlighted that Yuyuan’s brand and product globalization strategy sets a benchmark for Chinese cultural exports, with overseas revenue expected to become a key growth driver.
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