Dongfang Zhenxuan is ready to expand overseas markets

Consumer Staples Author: EqualOcean News Jan 08, 2024 06:08 PM (GMT+8)
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Recently, EqualOcean noted that Dongfang Zhenxuan, also known as Eastern Selection, has initiated recruitment for TikTok-related operational roles, including positions like Content Operations Manager, Business Manager, Operations Manager, and TikTok Overseas Store Operator, with salaries ranging from RMB 20,000 to 40,000. This recruitment move by Dongfang Zhenxuan is seen as leveraging TikTok to join the trend of international expansion.

Established on December 28, 2021, Dongfang Zhenxuan is a live sales platform launched by New Oriental Online, primarily focused on supporting farming projects through live streaming. In 2021, the Chinese mainland's educational training institutions were significantly impacted by the domestic "Double Reduction Policy", resulting in a substantial devaluation of New Oriental's market value. Yu Minhong, the founder of New Oriental, reflected on the year 2021, noting a 90% drop in market value, an 80% decrease in business revenue, and the layoff of 60,000 employees, with cash expenditures nearing RMB 20 billion for refunding tuition, severance payments, and lease terminations. It was under these circumstances that New Oriental was compelled to transform its business.

The international strategy of Dongfang Zhenxuan didn't emerge abruptly but had been in the works. In January 2023, Sun Dongxu mentioned in a meeting that Dongfang Zhenxuan had registered the "EASTBUY" trademark in multiple locations in preparation for international expansion. According to Tianyancha, Dongfang Zhenxuan applied for several "EASTBUY" trademarks, encompassing categories like convenience food, website services, and scientific instruments. Sun Dongxu stated, "We are also preparing for international expansion, as many overseas friends currently watch our live broadcasts. The only difference is that while domestic friends can purchase, international viewers cannot. Therefore, Dongfang Zhenxuan's future products will not only introduce many imported products but also promote domestic products internationally, particularly those with distinctive Chinese regional features, eagerly awaited by global Chinese communities."

Whether Dongfang Zhenxuan's venture aboard the 'ByteDance ship' for international expansion will be successful remains uncertain. However, it is clear that Dongfang Zhenxuan's transition from traditional educational training to a live e-commerce platform, leveraging its existing human resources—former New Oriental English teachers—has been a successful transformation within China. Additionally, the burgeoning overseas cross-border e-commerce market and TikTok's strong growth in North America and other regions provide new growth opportunities for companies like Dongfang Zhenxuan.