With the news that American electronic cigarette brand JUUL is valued at US$38 billion in 2018, electronic cigarettes have attracted much attention at home as a foreign trade export industry for many years. In the fields of capital, media, personal IP, industrial capital, they all shake hands with electronic cigarettes across borders in succession, so as to prepare to enter the industry. Huge attention is attracted, and the track suddenly became more heated and noisy!
Because of the support of Source Code capital, IDG and other capital, RELX, founded by Wang Ying, a former Didi executive, took the lead in bringing a wave of electronic cigarettes to a small climax in China.
Subsequently, uncle Tongdao founder Cai Yuedong announced the release of YOOZ electronic cigarettes in the circle of friends; Smartisan technology founder Luo Yonghao announced that former core members of Smartisan Technology had founded FLOW electronic cigarettes, and news of all parties entering the field of electronic cigarettes flooded in.
Shenzhen is the largest producer and distribution center of electronic cigarettes in the world. Through years of overseas expansion, Shenzhen has bred a number of internationally renowned brands. However, under the influence of the domestic influencer economy and the crazy spread mode of new brands, the enthusiasm of many traditional brands of electronic cigarettes has greatly decreased, and there seems no survival chance without “capital + media + IP + PPT” playing method. Brands do not conform to the domestic law of life, named as the “old brand” by new brands are severely beaten by reduced dimensionality attack. There is a situation of being excluded from the Chinese market to old brands!
Back to topic: Legendary iJoy Founder Wang Xizhi
Wang Xizhi, the founder of iJOY, who is the vice president of the Electronic Cigarette Association of the Chinese Chamber of Commerce, is a younger one among the “old brands”. Everyone in the industry knows that although Wang is young, he has been famous for a long time in the electronic cigarette industry. He is not only the founder of the electronic cigarette brand IJOY, but also a hidden martial art star.
Wang Xizhi was an authentic rural child. After watching the film Huang Feihong starred by Jet Li at an early age, he has been totally fascinated by “Kung Fu”.
When he was 8 years old, his father sent him to an old Kung Fu master five kilometers away from home to study traditional martial arts. In high school, he joined the school martial arts team and began professional training. During his college years, he also served as the captain of the college martial arts team.
Whether it’s rainy or cold or hot, he keeps training every day. In other people’s eyes, Wang Xizhi is a “Kung Fu idiot”.
Over the years of practicing martial arts, Wang Xizhi has always regarded Li Lianjie as an idol and goal. Not only in kungfu, but also in the spirit of perseverance, which has become Wang Xizhi’s criterion, has been encouraging him to move forward and overcome difficulties one after another.
Wang Xizhi’s life motto is to get rid of all difficulties and refuse to retreat if he fails to achieve his goal. In order to realize his dream of becoming a kungfu star like Li Lianjie, he has made many efforts that ordinary people can not understand.
For the sake of martial arts and movies, and for the sake of masterminding their dreams and realities, after graduation from university, Wang Xizhi chose a roundabout way to realize his dream – entrepreneurship.
After ten years of hard work, he seems to be successful in his career to outsiders, but he is not satisfied with himself, because he does not want to be carried away by life and forget his original dream.
In 2019, Wang Xizhi, who is in his prime, starred in the first swordsman movie of his life, Warfare Genie, and paid tribute to his idol, Mr. Li Lianjie.
“Perhaps only by not forgetting the original dream, and pursuing your dream, and actually pursuing your dream, can we always have it.” This is Wang Xizhi’s belief all the time!
Later, Wang Xizhi joined Taiji Chan founded by Li Lianjie and Ma Yun and became one of the shareholders with his love and perseverance for Kung Fu. He was also personally guided by the idol Li Lianjie.
War Genie is a martial arts film directed by director Zhang Jiahao, starred by Wang Xizhi, Liang Jiaren, Xie Yunshan (Xiaodingdang), Wu Yijia and Yu Yiling.
In this film, Wang Xizhi plays a strong martial arts guard soldier named Luo Lianwu. Luo Lianwu’s justice character is exactly a knight-errant.
There are a lot of action scenes in the film. Wang Xizhi insists on going to battle, sleeping only four hours a day, shooting for more than 20 consecutive days. He also takes time to deal with company affairs. Although it is very hard, he still smiles with the director with interest and says, “This film is of great significance to me, not only a dream, but also realizing it to me.” It is priceless to challenge and identify oneself.
In May 2019, in order to concentrate on his long-cherished wish, Wang Xizhi began to step down as CEO of IJOY and only served as Chairman of the Board. Although his company’s specific business operations and management involvement is gradually diminishing, he is also full of deep feelings for the electronic cigarette industry.
Where there are people, there is an ecosystem. Wang Xizhi is honest and hates evil, which is related to the practice of martial arts, but for everyone, he is always sincere.
1. “Eight years ago, when I entered the industry, I was also a layman. As a newcomer, I wanted to enter the industry with all my heart. At that time, I never played cards according to the routine. It was because of ignorance and no fixed thinking pattern, I had many innovations from different dimensions.
At that time, many predecessors regarded iJOY as a black horse. In a blink of an eye, we would become the “old brand”! We should also thank these “influencer brands” because they make electronic cigarettes more lively in China and educate many consumers. We should embrace the attitude of learning and learn from each other’s strengths.
2. Actually, whether it is “Influencer Brand” or “Old Brand”, it is the absolute truth for us to jointly maintain the healthy and stable development of the industry. At the same time, “Influencer Brand” is good at capital business model, communication and understanding the psychological needs of young consumers; Because of the long settling time of the industry, technology accumulation and product reserve, “Old Brand” has a clear view of the history of the industry, a sound industrial chain, guaranteed expansion of production capacity, and a sustainable cash flow growth reserve. ;
3. “E-cigarette enterprises still need to cultivate overseas markets deeply. In fact, IJOY began to prepare teams and products for domestic market a year ago. The entry threshold of domestic market has been raised to the level of 100 million yuan by means of capital play. The veteran brand which has been attacked by dimensionality reduction is not out of the picture. There are two main points in this situation. The demand of the domestic market has not really risen, and it is expected that it will take another 1-2 years. Secondly, because “Old brands” have been fighting in overseas markets before, no one in the same trade has entered the domestic market first. The entry of the capital market has not yet been reflected by everyone. In fact, the main reason is to wait for the national policy to be clear. I believe that this year many companies will take action. “;
4. “Electronic cigarette is a new type of tobacco products. All enterprises should have the correct industry values of National Interests are Paramount, Consumer Interests are Paramount. Electronic cigarette enterprises need to conform to the times and solve employment problems without caring profits only. A good brand company will eventually have feelings, a sense of social responsibility and value. Have the desire to serve the noble ideal of mankind.
5. “The era of product as king is not over yet, and the next step is to return to who can come out of good products to impress users, no matter which brand is getting popular, we have to applaud, because it is to give confidence to the industry!” Because the industry is now in the adjustment period, the next position of each enterprise may need to be clearer, when the box mod got popular, many pod manufactures who did not transform timely were running a poor business.
The arrival of nicotine salt, is not friendly to mod vape, on the contrary, the manufacturers who insist on making pod systems have come back to life. Last year, the manufacturers of box mod to pod systems should not have a very good life, this is the cycle!
Only by building a strong organizational system and talent reserve can enterprises go on for a long time. We should have a vision. Today does not mean tomorrow will be better. We can keep up with the development trend of the industry, and we dare to innovate and find our own position to survive.”
6. “Over the years, I have emphasized the importance of upstream and downstream supply chains and the industry structure. The supply chain of box mod vape felt that life was difficult. I think we should have confidence that we can overcome difficulties together. No matter what kind of vape gets popular, there will be room. In the past, not every soldier in the army had to equip with heavy machine guns. Ultimately, pistols are the most used weapons. I think it’s a time to embrace change, see the future trends, and understand the trade-offs.
At present, there are not many enterprises that can complete the layout of overseas brand, OEM, CBD and domestic brand business chain, but this layout must be supported by capital. The companies that did subtraction last year are all living well now. It is meaningful that an industry can survive only if it has a good life in the upper, middle and lower reaches. The law of development of natural selection and survival of the fittest will not change. I often warn the team that if we insist on brand, we must always maintain a sense of urgency, constantly improve our organization, adapt to future competition, or sooner or later we will be eliminated!”;
7. “Friends circle news said JUUL is Ready to Throw 100 Million to Enter China, and people go after it blindly. I think that different people have different opinions, wise people have different opinions and bravado is a common tactic of large overseas companies. If the information is true, they may be testing the situation of the Chinese market and the attitude of the government. They definitely want to enter the Chinese market. Juul’s entry into China shows that China attitude is open, his entry will also accelerate the maturity and shuffling of the Chinese market, and his entry will also accelerate the entry of Domestic capital market. I think Juul’s entry into the Chinese market is a good thing, but in the future they should not be able to beat Chinese brands. Just like Uber in China, they can’t beat Didi. We should be confident about that!” ;
8. “Last year, we have been optimizing internal reforms. It is painful for enterprises to adapt to industry changes. But if we do not change now, there may be no painful opportunities in the future. We are seeing the global market more and more clearly. We are open to the introduction of outstanding talents. There are still many opportunities for electronic cigarettes in the future. It just started.
IJOY is currently enrolling many talented people who are energetic, what I can do is to build a good platform, IJOY has completed organizational change, welcome more people with lofty ideals to join, I am only a major shareholder, not the boss, but through a common dream, we bring everyone together to work hard to do something. Our CEO is called Chen Wei now, wish everyone will support his work in the future! ” ;
9. In China, it is better to prohibit smoking and not advocate vaping electronic cigarettes, especially for minors.
10. Wish the industry a healthy, happy and sustainable development!
IJOY, RELX, MOTI, YOOZ, FLOW and other brands will meet you at Shanghai IECIE International Electronic Cigarette Exhibition in 2019. Looking forward to a good performance for all these brands!