Mia.com is secure in its position as a market leader despite the presence of big shots such as Alibaba Group Holding Ltd. (Photo : Getty Images)
What started as a small business for a former stay-at-home mother is now a Beijing-based e-commerce firm valued over $1 billion, according to an article by China Daily.
Liu Nan started Mia.com, a cross-border e-commerce company as a small online shop where she sold baby products through Taobao.com. After her first year, sales increased to 13 million yuan, with products as such baby formula, garments, diapers and toys as top sellers.
A big investment of 8 million yuan by a venture capital firm in March 2014 ultimately transformed her small online business into a billion-dollar operation.
Liu sources branded baby and mom products overseas, then re-sells them through Mia.com. Most of her customers are middle-class Chinese parents who are looking for good-quality products.
"I'd say I was lucky enough to tap into the imported baby products sector before it became a big thing in China's e-commerce world," Liu said in an interview with China Daily.
Numerous e-commerce companies have popped up since then, following Liu's business model. Competition is now fiercer than ever, but Mia.com is secure in its position as a market leader despite the presence of big shots such as Alibaba Group Holding Ltd.
"Unlike large e-commerce platforms, which see baby products as an important sector to boost their overall sales, we are dedicated to helping middle-class families access the best mom and baby products from abroad. That is the only thing we do," Liu said.
Another factor that gave Liu an edge over her competitors is her role as a mother to a 5-year-old daughter. This led to a unique perspective in understanding baby and mom products much better than her male counterparts.
"Everybody is discussing diapers as if you (men) really understand diapers, as if you had touched one before," Liu once told a male executive from a competitor.
Liu understands, however, that her role as a mother is not enough to support her company's sustainable development.
"The rapid development of the company raises the bar for management," Liu said. "When you think out of the startup box, you find that you need people with more experience and vision."
