Chinese diamonds open up the European and American markets

Abstract Introduction: In just three years, Wanbang Laser managed to outperform its 50-year-old American competitors and successfully captured the European and American markets. Within a short time of entering the U.S., the company secured 5% of the market share and became the first Asian firm to break into the U.S. diamond tool industry.

During an interview, the reporter discovered that the company’s finished goods warehouse is less than 20 square meters. This is because 90% of their products are exported directly, resulting in nearly zero inventory.

According to reports, Wanbang Laser has expanded its sales network from Europe and North America to regions such as the Middle East, Australia, South America, and Russia. By 2012, the company achieved annual sales of 400 million yuan, marking a significant milestone in its rapid growth.

The company's success can be attributed to its strong focus on innovation, efficient production, and strategic international expansion. With a lean operation model and high export rates, Wanbang Laser has proven that even a small-scale business can make a big impact in global markets.