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05/06/19
22:42
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Originally posted by amg63:
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https://grnrm.com/foreo/ https://www.youtube.com/watch?v=nAxguqCdBFU Quite an amazing story, Foreo found success through knowing exactly when and in which way to market themselves. Now they sell 1 product every 3 seconds. Their biggest success was with Tmall where they sold 100million CNY in 24hrs, in the last 3 years they have consistently been one of the best selling products and the best selling beauty product on Tmall, quoted from the youtube presentation. I have high hopes with Mr. Paul Peros who will help to commercialise a range of products and solutions. More importantly he will be the Chief Executive Officer of any companies that will be established from these new devices from what i can understand and will be responsible for developing and leading the company branded business worldwide. Finally we have someone working on a full time basis. We are currently paying him about 570K/year (20% of his pay to be paid out as shares) with milestones attached to any successes, he is well incentivised to take this off the ground. Fereo became an almost 2billion dollar company in 6 years, lets see what he can achieve with OBJ's technology at his disposal.
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I wonder if the Tmall success is in part because he speaks Chinese. Speaking the native language of your key demographic can propel your networking and negotiating capabilities significantly.