
Dezan Shira & Associates
A misspelled surname, $500, and Deng's Southern Tour. Thirty-two years later: 40+ offices, $50M revenue, six crises survived by staying put.
The world's second-largest economy with 1.4 billion consumers and rapidly expanding premium segments, where sophisticated digital infrastructure meets growing appetite for authentic Global South brands and cultural products.

World's largest consumer market with 1.4 billion people and sophisticated digital ecosystem, where founder-led premium brands leverage heritage craftsmanship, regional terroir, and authentic storytelling to differentiate in competitive landscape.
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A misspelled surname, $500, and Deng's Southern Tour. Thirty-two years later: 40+ offices, $50M revenue, six crises survived by staying put.

Launched during SARS into Shanghai's missing middle. Academy-trained consistency made quality exportable—China's first service brand abroad.

Zero TV ads. Zero magazine spreads. 15,000 KOL partnerships. Perfect Diary proved trust networks beat ad budgets—#1 on Tmall.
Searchable listing of all brands in the China market
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When Dezan Shira expanded to India and Vietnam in 2008, skeptics called it crazy. A decade later, US-China tensions proved the bet prescient.

Banned from Hong Kong, expelled from Japan. Sun Yat-sen found refuge in Penang, where merchants who never saw China funded its liberation.

In 1292, Marco Polo called it the greatest port in the world. Today most have never heard of it. The lesson: trust networks outlast governments.

$16B peak → 98% crash → the strategic lesson. Traffic arbitrage builds awareness, not loyalty. Only brand equity protects margins.
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