October 28 marked a significant milestone for the largest watch mall in China, "Wanwang Network," as it celebrated its third anniversary at the Nansha Golf Club in Guangzhou. The event, titled "International Watch Business Trends in China's Electric Market," brought together representatives from global high-end watch brands, Chinese watch experts, dozens of luxury media outlets, and Wanwang members for an exclusive gathering. During the event, industry leaders such as Wang Xiaowen, founder and chairman of Xiao Xiao and Chang Wen-sheng Culture, participated in a "Fenghuang Dialogue" discussing the development of international watches in China, market patterns, and other key topics.
Following the dialogue, the press had the opportunity to interview Mr. Xiao Xiao, president of Wanwang Network. Here are the highlights of the conversation:
**Reporter:** What sparked your interest in watches, and when did you decide to start your business?
**Xiao Xiao:** I've always loved watches. My interest began during junior high school when my classmates wore them, and I found it really cool. However, my family didn't allow me to buy one back then. After graduating from college, I bought my first watch with my first salary. Most men have an innate love for mechanical devices.
**Reporter:** How did you come up with the idea for Wanwang Network?
**Xiao Xiao:** Initially, I ran a comprehensive luxury website, but after a few years, I realized that a general approach wasn't working. I decided to focus on watches, originally including diamonds, bags, and other luxury items. Later, I concentrated solely on watches. We started by finding reliable suppliers and building our competitive edge through independent brand partnerships.
**Reporter:** You mentioned He Bolin as your first brand. How did the collaboration begin?
**Xiao Xiao:** At the time, He Bolin hadn't reached the level required for official distribution. However, I showed sincerity and convinced their boss. He was optimistic about the Chinese market and believed in the future of watches. I still feel grateful for his trust.
**Reporter:** Now, many brands choose you as well. What are your criteria for selecting intermediaries?
**Xiao Xiao:** The conditions are similar across the board—discounts and cooperation terms are usually comparable. The difference is subtle, which makes the industry more accessible.
**Reporter:** Do you have a dedicated team for choosing brands?
**Xiao Xiao:** Yes, we have a team that gradually screens brands. I personally visit factories, meet brand owners, and ensure mutual understanding between our companies. I avoid brands that are just registered without real craftsmanship or production.
**Reporter:** What watch are you currently wearing?
**Xiao Xiao:** This is Bo Gao, one of our latest introductions.
**Reporter:** What’s the story behind this watch?
**Xiao Xiao:** It has a unique design and superior movement, recognized in the industry. Each brand I represent, I personally test and wear before deciding to include it in our collection.
**Reporter:** How do you find new brands?
**Xiao Xiao:** Through exhibitions and word of mouth. Europe has thousands of brands, but only a few hundred are truly independent. These brands know each other and often recommend partners. We communicate directly via email, and we even set up an office in Europe to build relationships.
**Reporter:** Have consumer preferences changed over the years?
**Xiao Xiao:** Not much. Chinese consumers tend to prefer conventional styles, while those who can afford it may seek personalization in the future.
**Reporter:** Was your first customer deal exciting?
**Xiao Xiao:** Definitely. Our first Patek Philippe sale was around two or three million, and it was thrilling.
**Reporter:** Do you have any sales records?
**Xiao Xiao:** Yes, we once sent a special order to Hubei.
**Reporter:** Any memorable customer stories?
**Xiao Xiao:** Some customers, though not necessarily wealthy, were very straightforward. They simply asked if we had the watch and when it would be available.
**Reporter:** What’s the distribution of your customers?
**Xiao Xiao:** Mainly in first and second-tier cities, due to online shopping habits and watch culture.
**Reporter:** What new departments or services have emerged as Wanwang Network grows?
**Xiao Xiao:** We now have customer service, operations, marketing, brand cooperation, and European strategic teams.
**Reporter:** Are you involved in offline stores?
**Xiao Xiao:** Not directly. We assess dealers based on their capabilities and integrity.
**Reporter:** Is there conflict between online and offline sales?
**Xiao Xiao:** No. Online information is more credible, and customers trust us.
**Reporter:** How do you collaborate with banks?
**Xiao Xiao:** Banks are strict partners. Initially, they didn’t trust us, but after proving ourselves, they became loyal collaborators.
**Reporter:** Do you have joint activities with banks?
**Xiao Xiao:** Yes, including direct sales in bank malls and installment options.
**Reporter:** What do Europeans think of the Chinese market?
**Xiao Xiao:** Many are optimistic, but some still hold biases. We need to showcase our strengths.
**Reporter:** Do you participate in public welfare activities?
**Xiao Xiao:** Yes, like car shows. Watches and cars attract similar audiences, so it's a good match.
**Reporter:** When did you start the new media platform?
**Xiao Xiao:** It began in 2012, and we officially launched it this year.
**Reporter:** What’s the mission of this platform?
**Xiao Xiao:** It’s for brands and professionals to share insights and promote products. It’s not for profit but for communication.
**Reporter:** Is the platform independently operated?
**Xiao Xiao:** Yes, it’s not for profit but for brand promotion.
**Reporter:** How does the O2O platform work?
**Xiao Xiao:** With mobile internet growth, we help physical stores boost online presence and increase sales.
**Reporter:** Have you launched promotional campaigns?
**Xiao Xiao:** Over three years, we’ve given away thousands of watches to consumers as a gesture of gratitude.
**Reporter:** Who are your role models in the watch industry?
**Xiao Xiao:** I listen to experts and practitioners, not just famous figures.
**Reporter:** Are you a rational watch enthusiast?
**Xiao Xiao:** I enjoy watches, but I’m not obsessed like some collectors.
**Reporter:** Do you have a standard for collecting watches?
**Xiao Xiao:** I collect what I like, especially those with advanced technology.
**Reporter:** How many watches do you own?
**Xiao Xiao:** Not too many. I focus more on business than collections.
**Reporter:** What are your hobbies?
**Xiao Xiao:** Working is my biggest hobby. I enjoy the process.
**Reporter:** Do you play golf?
**Xiao Xiao:** I don’t play, but I agree with the idea of networking through it.
**Reporter:** Are there other collaborations besides auto shows and golf?
**Xiao Xiao:** Yes, our marketing team collaborates monthly.
**Reporter:** How do you handle marketing?
**Xiao Xiao:** Marketing is important, but we’re still improving. We focus on supply chain and customer experience.
**Reporter:** Does your reputation affect consumer trust?
**Xiao Xiao:** Yes, word of mouth is powerful online.
**Reporter:** Do you have a membership system?
**Xiao Xiao:** Yes, but we focus on service, not just sales.
**Reporter:** How do people accept your model?
**Xiao Xiao:** Many know the network, but only a fraction actually purchase.
**Reporter:** What’s the main advantage of Wanwang Network?
**Xiao Xiao:** Professionalism and responsibility—this is our core value.
**Reporter:** Any other areas you're focusing on?
**Xiao Xiao:** No, I believe we’ve covered the main points.
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