How Vape Tycoon Li Jianwei Grow from 20 Million to 400 Million – From OEM to Private Brand

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Recently, the public accounts of Alibaba International South China Site released an article named“Starting from the OEM to a self-owned brand, he opened the market in 128 countries with Alibaba”. The characters mentioned in the article are very inspirational and worth learning.

The article is divided into three parts, mainly telling that Shenzhen Xinyikang Technology Co., Ltd. started to work by OEM. Later, with the help of Alibaba International Station platform, it has become a well-known enterprise in the vape industry in 128 countries and regions in the world within 10 years. The person who created this miracle behind the scene is Li Jianwei, the CEO of the company. He led the company from an annual turnover of more than 20 million to more than 400 million, the global sales of more than 60 million vape, and it is the industry’s famous “Vape King.”

1. Li Jianwei: I firmly believe that there is no way out of doing OEM, because the profit rate is low, and there are many uncertain factors.

Magnetic voice, smooth tone… Li Jianwei usually gives people a very peaceful and casual feeling. However, this person is able to continue to innovate and forge ahead in his career. Initially, Li Jianwei only joined several friends to open a factory to do vapes, and the business was booming. He even received a large order of two or three million US dollars from American customers. When everyone thought that the situation was good, the American customer began to drastically lower the price. Mr. Li and his shareholders did not budge, and the client ended up working directly with other lower-priced contract manufacturers. This gives Mr.Li a great shock and enlightenment, he firmly believes that there is no way out of doing that, because of the low-profit margin, and a lot of uncertainty. In 2011, Li Jianwei and his shareholders formally founded the Xinjiang Technology Co. Ltd.(INNKOIN)

In 2011, after the establishment of Shenzhen INNOKIN Technology Co., Ltd., Li Jianwei paid special attention to the brand, and successively launched Innokin, iTaste, Coolfire, Endura and other series, totaling more than 100 products. Compared with the popular round-bar vape on the market, Li Jianwei has developed a more sophisticated vape, which makes it more playful and increases the power to better replace vape. Brands and technologies have made INNOKIN stand out. Although the price is two or three times more expensive than other manufacturers, it is still in short supply. This gorgeous turn made Li realize that building a brand and reputation is the future of the industry, while technology and innovation are the foundation of the brand. Now INNOKIN invests more than 20 million yuan each year in research and development, and has more than 300 technology patents, many of that have become the industry standard.

2. Li Jianwei: Alibaba International Site is equivalent to CCTV in our foreign trade industry. My strategy is to make quality products frequently exposed at international stations.

Speaking on the platform of the Alibaba international station, Li Jianwei’s feelings are quite deep. He recalled that as early as 2009, the company began to use Alibaba, and the result was good, and many new overseas customers were developed. When the new company was founded in 2011, the former customers were gone, and he used Alibaba as the main promotion platform. At that time, the company launched a square portable vape, initially worried about sales, but after three months of promotion on the homepage of Alibaba International Station, it quickly attracted many international customers, and the maximum turnover reached 1.2 million US dollars per day. It is a number that makes Li Jianwei feel shocked. Eventually, the vape sold for more than 200 million yuan a year, becoming hot style, which led to a growth of 1000% of the transaction value that year. With the help of Alibaba’s international platform to sell overseas, Li Jianwei’s tried and tested marketing strategy, he said that most of the 128 countries and regions that the products are sold through Ali into the local. “Most of our customers in the new area have found us on Alibaba, for example, in France and Russia and in some countries in eastern Europe. After the transaction was completed, the new customers brought our products to the local, like a fire and brought new customers. Now the company’s annual turnover has reached 400 million, 70% of which is completed through Ali.

“Alibaba International Station is equivalent to CCTV in our foreign trade industry. My strategy is to make quality products frequently exposed an international station”. Li Jianwei said that in the new trade festival in March this year, the company achieved good results, with online transactions of two or three million dollars, and also acquired a large number of new customers. “For our company, new customers are more important than orders, because new customers mean new markets, new growth points, and Ali precisely provides us with such a platform and opportunity. ” Stimulated by the good record of the New Trade Festival, Li Jianwei revealed that the company is still preparing for the new trade festival in September, and has already prepared new products and promotional resources have been launched. He hopes to use the new trade festival to create the Vogue.

3. Li Jianwei said keeping the initial heart and sticking to the bottom line is what we have been doing.

Since its inception in 2011, INNOKIN of Shenzhen has made “innovation” and “safety” the core concept of vape manufacturing.

The founder of the company, Li Jianwei, is full of confidence in the development prospects of the vape industry. He believes that the future of vape is likely to completely replace traditional cigarettes, which is one of the reasons why he is constantly upgrading his technology. Some of the peer vape manufacturers may simply upgrade their power, while Li Jianwei focuses on technological innovations such as smart power correction, ultra-precise temperature control, and low-temperature combustion. In addition, in the appearance of the shape, the INNOKIN is constantly innovating, creating a popular product that combines fashion and performance.

Safety is a common issue in the industry. In recent years, many cases of vape explosions have been reported in foreign countries, especially the United States. For security issues, Li Jianwei believes that safety is the premise of enjoyment. In this respect, the INNOKIN has never been, and will never be taken lightly. Keeping the heart and sticking to the bottom line is something we have been doing. To this end, Shenzhen Xinyikang Technology Co., Ltd. (INNOKIN) always puts the safety and durability of products in the first place in the process of the production.

Summary: At present, vape export trade of the main marketing channels, in addition to the Alibaba International Site, there are global resources, made in China, Amazon, Instant Express, DH Gate Net, etc, and use major video sites and social media platforms for promotion, such as popular Youtube, Facebook, Twitter, Linkedin, Instagram, Google, and more. And, of course, there is also cooperation with foreign vape influencers.

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