The Lucky Dragon (ProQuest: Formulae and/or non-USASCII text omitted) Hong Kong, Special Administrative Region, China

The Lucky Dragon is a vitamin, Chinese medicine and nutraceutical company located in Causeway Bay in Hong Kong. Although the company was ran for 50 years by the Ng family, after the patriarch Mr. Ng Shu Chorn passed away, his children decided to sell it, as none of the three children were interested...

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Bibliographic Details
Published inJournal of business case studies Vol. 12; no. 1; p. 29
Main Authors Eliason, Robert G, Pargas, Fernando A, Yankey, Michael D
Format Journal Article
LanguageEnglish
Published Littleton The Clute Institute 01.01.2016
Subjects
Case studies
Corporate culture
Corporate profits
International business
Profit margins
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Summary:The Lucky Dragon is a vitamin, Chinese medicine and nutraceutical company located in Causeway Bay in Hong Kong. Although the company was ran for 50 years by the Ng family, after the patriarch Mr. Ng Shu Chorn passed away, his children decided to sell it, as none of the three children were interested in managing the store or sourcing products and selling them to other shops. Increasingly, competition from mainland China had been eroding profit margins of similar businesses in Hong Kong, and each of the siblings had respectable jobs, so cashing in was the best course of action. Anderson Products LLC, a health and wellness company headquartered in Provo, Utah, had hoped to expand to the seemingly lucrative Chinese market, but they were inexperienced with international business and afraid of mainland China regulations. They saw the advertisement for the sale of The Lucky Dragon as a great opportunity to get their feet in the door, under the more auspicious regulations that Hong Kong could offer. Keywords International Business; Management; Family-Owned Business; Culture
ISSN:2157-8826