August 13, 2016

Mr. Waffle

Multi-channel sales strategy allows Belgian Waffle maker to gain ground on the Chinese market

Context:

Created in 2013 by Belgian investors, Mr. Waffle is specialized in baking authentic Belgian waffles for the Chinese market. All products are prepared in China from imported ingredients.

Challenges:

In order to take ground on the Chinese market, Mr.Waffle required the implementation of a smooth Go-To-Market strategy taking into account:

  • Optimization of related legal set up costs;
  • Innovative distribution approach within the constraint of limited resources.

Innotek Asia Services:

Innotek Asia supported Mr. Waffle on two major aspects to effectively settle the Belgian Waffles maker on the Chinese market:

  • Legal set up of 2 entities: one Holding Company in Hong Kong and one WFOE in China;
  • Co-design of a structured Offline Sales Strategy based on events participation, listing of products in pop up and flagship stores as well as the  development of a franchisees network.

Customer Benefits:

After 3 years, sales reached 5 million RMB (750K USD)

The Figure

More than 100 events, 2 flagship stores in Shanghai and Nanjing, 10 franchisees

Multi direction sales strategy that enabled profit to grow quickly

50% savings on legal set up of the 2 entities compared to market price