For over a decade, manufacturer Matsutek plied away at building its business wit...
SHENZHEN, China/SHANGHAI - For over a decade, manufacturer Matsutek plied away at building its business with big Western brands, supplying firms such as Philips and Honeywell with products made in its Chinese factories for the U.S. and other overseas markets.
Already disenchanted with the U.S. market after a legal battle with rival iRobot Corp in 2017, the tariffs were the last straw and in December Matsutek switched its focus to its own “Jiaweishi” vacuum cleaners - promoting them on Alibaba’s Tmall and Pinduoduo’s e-commerce platforms.“This was our wake-up moment. We realized we couldn’t rely on overseas markets alone, rather we should build our own brands in China,” Terry Wu, general manager of two Matsutek units in Shenzhen, told Reuters.
Indeed, for China-based companies heavily exposed to the U.S. market, it is one of their few strategic options aside from shifting some production to other countries - a tactic that is also gaining momentum. Additional tariffs that went into effect this month will bring the levies on Chinese glassware to 40% - a big hit to the industry, he added.
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